A few years ago, many people would rather use the free version of an app and watch some display ads than a paid ad-free version. In Q1 2021, consumer spending has set a record by reaching 40% year-over-year on apps from Q1 2020.
In 2020, people spent more on apps and downloaded more apps across both iOS and Google Play during the coronavirus lockdowns due to the increased dependency on screens either to kill the time or to get their things done. Eventually, many people are considering paying to use apps without distractions or interruptions.
Top Downloaded Apps
Among the top downloaded apps, Games, Social, and Entertainment apps saw the biggest quarter-over-quarter growth regarding consumer spending, while on iOS, Games, Photo & Video and Entertainment apps accounted for the most powerful growth.
Top apps remain the same. Tiktok appears first, followed by Facebook then, Instagram. Regarding consumer spend, YouTube rises to number 1 App. In the first few months of 2021, YouTube has set a record for app spend. YouTube has outperformed TikTok and Tinder and has become the market leader in in-app purchases.
Read: YouTube Audio Ads Are On The Market!
All the previous data teaches us something, is that people spend their time and money on social media now more than ever. Since most of the downloads and the spending go to social media apps, it proves that social media marketing is crucial for any business.
Read: Clubhouse Social Networking App Has Taken The World By Storm!
The Effect Of The Pandemic On Consumer Spending
Consumer spending continues to grow significantly and shows a 40% increase in the first quarter of 2021. It proves the effectiveness of the pandemic on the number of purchases.
On YouTube, people spend their money on a few features like YouTube Premium, Channel Memberships, Super Chat, Super Sticker.
When people spend their money on features like these shows how they appreciate the app, as the users can consume the same content free of charge.
Do you want to connect with people on a deeper level through social media marketing? Contact one of our team members now
