London, November 27th 2018 – Retail app usage has grown significantly over Cyber Weekend, shows data released by Poq today.
Poq, the SaaS-based app platform analysed consumer behaviour on retail apps over Cyber Weekend, looking specifically at revenue and time spent within apps on Black Friday and Cyber Monday in the UK and US.
Poq who power the apps for retailers such as PrettyLittleThing, Missguided, Holland & Barrett, Made.com and others, have seen the equivalent of 21 years and 7 months spent within apps on their platform on Black Friday alone, this is a 40% increase from 2017.
Apps across the UK and US were analysed over Black Friday and Cyber Monday. Across both territories, the data showed that mobile apps’ share of both mobile web revenue and online revenue had grown by over 3x in comparison to Black Friday 2016.
The UK saw apps take a larger share of ecommerce as a whole, whereas the US saw apps take a larger share of overall mobile revenue than the UK. Cyber Weekend 2018 in the UK saw app-generated revenue account for 44% of mobile revenue and 28% of ecommerce revenue.
“We’ve been seeing this growing trend over a number of years” commented Oyvind Henriksen, CEO at Poq, who went on to say: “These recent results from Cyber Weekend are no different, they not only show growing consumer confidence in shopping apps, but illustrate the ease and convenience they provide to the shopper. We’re happy that retailers on our platform have had such a successful Cyber Weekend.”
There was an average of £2,091.71 revenue per minute going through the Poq platform on Black Friday, which is a 61% increase in revenue per minute from 2017.
The research, published today, also provides insight into consumer spending habits on apps. The app analysis identified that over Cyber Weekend 89% of shoppers returned to an app they had previously visited. The number of returning users is 20% higher compared to an average day in Q3 2018.
It can be assumed that this trend is attributed to the way in which retailers engage and build loyalty with customers via their apps – the use of push notifications has been cited as a driver of this to entice users back to apps with the promise of offers and deals.
Either way, many had predicted that mobile and mobile app usage over Cyber Weekend would increase. With Salesforce anticipating that mobile will account for 68% of sales throughout November and leading analyst house Forrester suggesting that 53% of online transactions in Europe will be via mobile.
View the full Cyber Weekend research from Poq here.