The world changed drastically in 2020, and several of these shifts remain, including an increase in mobile usage. When people stayed at home, mobile devices became cement, a means of managing our daily lives. Transforming in the process almost every vertical in the industry, from the way we have fun to planning and organizing finances and everything in between, our world is increasingly defined by mobile phones.
To help retailers navigate the landscape and identify opportunities for success in mobile devices from 2021 and beyond, Annie app presented the latest State Mobilee report. The findings provide an important overview of key trends and changes in mobile applications over the past year and what they mean for the future, including:
- In 2020, mobile devices spent 143 billion US dollars, spent 3.5 trillion hours and 218 billion downloads. Overall, adoption has progressed sharply in two to three years spanning 12 months.
- Mobile gaming is estimated to exceed spending of $ 120 billion in 2021 – occupying 1.5 times more market compared to all other gaming platforms combined.
- Mobile devices surpassed live TV during the time spent in 2020 with 4 hours per day compared to 3.7 hours. In this regard, mobile ad positions are growing (95% over the same period last year) as this type of ad is currently on track to exceed $ 290 billion in 2021.
Let’s now unpack some basic topics around mobile devices to keep in mind when we start executing New Year’s strategies.
Empowering the day trader and democratizing investment
According to the report, time spent in financial applications during 2020 increased by almost half (45%) worldwide outside China in 2020. Despite a turbulent economic year, mobile devices have been a common thread across the entire spectrum of fiscal governance, including research, decision-making, valuation, and buying or investing. It is a mechanism for participation and not only wealth building, but more importantly the establishment of financial literacy.
Currently, the basics of personal finance and investment are not usually taught in schools, which in some cases delays when people decide to actively start investing. Looking ahead to 2021, investment applications are intensifying, filling an important knowledge gap for novice investors and making investing more affordable and empowered.
Games and streaming: a new marketing frontier for influencers
According to App Annie, “The average American watched 3.7 hours of live TV a day, while in the second half of 2020 he spent 4.0 hours on his mobile device.” Furthermore, 40 percent more hours were streaming on a mobile device in 2020.
With more eyeballs favoring mobile devices, retailers have long pondered their ad positions and their tactics. Specifically, in 2020, $ 240 billion was spent on mobile ads. This figure is expected to rise to $ 290 billion in 2021, driven by celebrity collaboration, the 2020 approach has proven effective in cutting the noise that triggered 2.7 times the download.
It’s not just about rolling out mobile ads, but also taking into account the unique demographic opportunities that mobile offers offer for age groups. In addition, the data showed that in the American generation, Z Millennials and Gen X / Baby Boomers spent 16, 18 and 30 percent more time in their most frequently used applications compared to the previous year.
Not surprisingly, casual games for games and entertainment, including Twitch, TikTok, and ROBLOX, dominated app downloads among generations of Zers as brands became innovative and used those spaces as a new frontier for their impact efforts during the pandemic. The report further supported the topic, stating that mobile gaming is expected to exceed spending of $ 120 billion in 2021, while TikTok is expected to reach 1.2 billion active users this year.
The future of social trade and live shopping
Instead of delaying long-term brand strategies, the pandemic served as an accelerator of e-commerce, ensuring that three-year business growth plans became a reality in just six months. In 2021, these bold moves are expected to continue.
As consumer evolving habits encourage new channels to discover and buy, brands and retailers need to adapt to the situation and position themselves to connect with this growing, engaged and ready audience. Live shopping is one of the spaces to watch, and the report notes that social trade and live shopping by 2024 represent a $ 2 trillion market in the global market.
Since many people are more accustomed to shopping online, many will not return to their habits before COVID, even when they are able to, which is a plus for many platforms, especially for Pinterest and Instagram according to App Annie who found global Instagram downloads and Pinterest worldwide rose 50 percent and 20 percent, respectively, over the same period last year.
Join 100,000+ fellow marketing professionals who improve their skills and knowledge by subscribing to our weekly newsletter.