Data from mobile attribution and marketing analytics company, AppsFlyer, shows that record numbers of British consumers turned to in-app shopping for Black Friday bargains this year, with eCommerce advertisers in its network seeing almost double (97%) the in-app revenue year-on-year.
The numbers indicate massive consumer spending in eCommerce apps – in-app-purchase (IAP) revenue on Black Friday was 50% higher than the average of the previous 30 days. This is particularly significant given that November is already a popular shopping period, and many Black Friday sales events started days or weeks in advance this year.
Consumers are also installing apps to make purchases; there were 35% more organic installs of eCommerce apps than the average of the previous 30 days on Black Friday. In addition, revenue per app install nearly doubled on Black Friday, showing the huge opportunity to drive increased sales through apps on this peak shopping day.
Key UK findings:
- 2020 has already been a booming year for eCommerce; Q2 outperformed the 2019 holiday season and Black Friday has driven revenue even higher than those levels of June and July 2020.
- Despite record-breaking in-app-purchase revenues on Black Friday this year, revenue per install only increased by 12% compared to 2019. This suggests that the overall revenue increase was generated by the number of new users shopping with their eCommerce apps. This is where the UK lockdown might have had significant effect, since shoppers had few options but to move online.
- App marketers upped their budgets to try and capitalise, with a 23% increase in non-organic installs and 21% increase in remarketing conversions.
Retailers now have a ‘golden’ opportunity to drive long-term engagement and loyalty. The holiday period is already a highly competitive space for marketers, and the increased media cost means that marketers have a greater-than-ever need to leverage data to ensure high-quality returns through smart targeting. By using data to inform and improve the in-app shopping experience in real-time, we have been able to see installs and revenue taking significant leaps during Black Friday 2020, a critical time for retailers to bank up their revenues in the run up to Christmas.
Paul Wright, Managing Director, AppsFlyer