In App Annies excellent new blog post “Global App Store Records Shattered Yet Again in Q1 2018” apps are continuously on the rise. The combined spend in the two app stores are now over $18.4Bn. But it doesn’t stop there, apps are on the rise all over the spectra.
The growth in Q1 is not an anomaly, Business of apps reports the following growth forecast:
· Global mobile app revenue in 2016 – $88 billion
· Global mobile app revenue forecast for 2020 – $189 billion
Even the old maxim that Luxury brands and eCommerce does not match is no longer true. More and more of the luxury goods are now sold online, and increasingly on mobile according to the management consultancy McKinsey.
There is no surprise that native apps are having such positive future. Mobile now dominates as the preferred online channel, in the US it is now 71%. Native apps offers superior UX and speed which is crucial for any digital strategy as that is the main driver of conversion rates, i.e. how many goes from browsing to finalizing a sale.
The concern around nativee apps have been the cost and time to create and maintain the apps.
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