Unveiling Black Friday 2023 App Insights
Black Friday 2023 marked a pivotal moment in the world of retail, solidifying the dominance of online shopping and the increasing preference for mobile commerce. As we delve into the app insights for the poq super app platform, it becomes evident that the shift towards digital experiences is not just a trend but a transformative force shaping consumer behaviors and retail strategies.
- Global Online Revenue Surge: A Clear Shift to Digital
- Global online revenue witnessed an impressive 8% year-on-year growth, despite the reemergence of in-store shopping. This data underscores a profound preference for the convenience and accessibility of online shopping over traditional in-store experiences.
- Mobile Commerce Dominance: The Rise of On-the-Go Shopping
- A staggering 72% of all online shopping revenue was generated through mobile devices (app and mobile web combined), signaling a clear preference for the ease and flexibility of shopping on-the-go. This represents a 2% year-on-year increase, solidifying mobile as the preferred platform for consumers.
- App Revenue Boom: A Testament to Enhanced Shopping Experiences
- App revenue through the poq platform experienced an impressive 49% growth, driven by a substantial increase in traffic (40%), conversion rates (22%), and average order value (2%). These statistics highlight the undeniable preference for the enhanced, personalized, and seamless shopping experiences offered by dedicated mobile applications.
- Decline in Desktop and Mobile Web Revenue: The App Advantage
- In contrast to the flourishing app revenue, our customers whilst growing emphatically in app saw declines in both mobile web (-8%) and desktop (-2%) experienced declines as an aggregate. This further emphasizes the evolving landscape, with consumers opting for the immersive and feature-rich environments that apps provide over traditional web-based platforms.
- New App Users: A Conversion Powerhouse
- A striking statistic reveals that 1 in 2 new app users made a purchase, a remarkable 6 times more likely compared to mobile web users. This underscores the importance of cultivating an engaging channel, such as a dedicated app, to unlock the revenue potential that loyal customers are willing to offer in exchange for a personalized and streamlined mobile experience.
- The App Advantage: A Crucial Component for Retail Success
- The data speaks loud and clear: retailers without an engaging mobile app are missing out on substantial revenues that loyal customers are ready to offer. The app has become an essential channel for unlocking the full potential of consumer spending, providing a platform for personalized experiences that drive conversion and build lasting brand loyalty.
Black Friday 2023 has cemented the digital revolution, with online and mobile shopping taking center stage. The success of app-based experiences, as evidenced by the impressive growth in revenue and user engagement, as seen through the global customers utilising the poq super app platform emphasizes the need for retailers to prioritize and invest in mobile applications. The future of retail lies in creating seamless, personalized, and immersive app experiences that cater to the evolving preferences of the modern consumer.