The Shopping app insights_report_2024_ebook.pdf

Shopping Report 2024

1. The shopping app
insights report
EBOOK
Trends and tips for high-converting
customer experiences

2. The shopping app insights report 2
Contents
Introduction ������������������������������������������������������������������������������������������������ 3
Next-gen shopping: Streamlined, seamless user experiences.....3
Staying ahead with innovative techniques and tech �����������������������6
The state and evolution of e-commerce and shopping apps ��������7
Methodology and key takeaways............................................................8
The e-commerce and shopping app user lifecycle............................. 9
Installs, sessions, and retention rates..................................................10
Days of interest for e-commerce and shopping
app installs and sessions...........................................................................12
Evaluating the price tag of user acquisition....................................... 16
Cost per install, impression, and click + partners per app ����������� 16
Converting clicks to cash for revenue growth................................... 21
User LTV, in-app revenue, and average revenue per user............ 21
Conclusion.................................................................................................24
From data to dollars:
Elevating conversion rates and revenue............................................ 24

3. The shopping app insights report 3
INTRODUCTION
Next-gen shopping: Streamlined,
seamless user experiences
Advancements in mobile tech are resulting in the continued adoption of e-commerce and shopping
apps. Mobile wallets, which enhance conversion rates by streamlining payments, are projected to
handle 61% of all e-commerce transactions by 2027. And transactions are just one part of the picture.
From ad creative through to purchase and re-engagement, every interaction should be seamless—
making personalization and deep linking essential components for marketers in the shopping app
space to get right.
Younger generations’ spending power is also increasing
and reshaping the purchasing ecosystem. Gen Z, for
example, values social commerce (63%) and live streaming
commerce (57%) as key parts of their shopping experience.
These trends are particularly notable in China—now a
trendsetter in the shopping space—with Douyin (the
Chinese version of TikTok) generating $198.8 billion
in revenue in 2024 from its innovative use of social
commerce. These shopping experiences, which blend
entertainment with retail, are revolutionizing consumer
interactions with brands.
Shopping apps are also leading in the development of
next-generation shopping experiences, with transformative
uses of AI and AR enabling virtual fittings and in-home
visualizations. 49% of shoppers in the U.S. now prefer AR
try-ons to in-store dressing rooms. For marketers, this taste
for virtual experiences translates to increased engagement
and lower return rates. Subscription models are also
becoming more common in the e-commerce and shopping
app landscape, particularly among marketplace apps
inspired by models like Amazon’s Prime membership.

4. The shopping app insights report In addition to advancements in-app, growth for shopping
apps increasingly requires an expanded channel mix to
find audiences and maximize ROI. This is one area where
connected TV (CTV) continually demonstrates its upper-
funnel, assisting power. CTV, similar to social commerce,
blends traditional viewing experiences with interactive
shopping and innovative ad formats like pause screen ads .
Traditional retail channels also present significant
opportunities. Retail media networks, operated by
major brands like Amazon, Walmart, and Target, also
offer advertisers a unique opportunity to reach captive
audiences by selling ad space on their digital channels.
These networks give mobile app marketers the ability
to leverage their consented, first-party shopper data
and existing retailer-consumer relationships, enhancing
conversion likelihood.
We’ve analyzed Adjust's shopping app data throughout
this transformative period to uncover strategic campaign
optimization opportunities for mobile app marketers
and developers. This report provides you with industry
benchmarks and trends, along with insights on how to build
a data-driven, next-generation approach to attribution
and measurement. We set you up for success in the hyper-
growth Q4 shopping season, and beyond into 2025.
4

5. The shopping app insights report 5
Online retail sales in the U.S. are
projected to increase by 9.8% to reach
$1.2 trillion in 2024.
There are 2.6 billion shoppers
worldwide who use shopping apps to
purchase at least one item each year.
35
2.6
BN
By 2027, e-commerce is expected
to make up 22.6% of total retail sales
worldwide.
In 2023, marketplaces accounted for
35% of online shopping inspiration
globally.
U.S. back-to-school sales are expected
to grow by 3.2% in 2024, totaling $81.16
billion.
45.4% of shopping app trials convert
users into subscribers.
22.6
81.16
BN
45.4
%
1.2
T
The average App Tracking
Transparency (ATT) opt-in rate for
shopping apps was 34% in Q2 2023.
So far in 2024, we're seeing rates
reach as high as 50% on some days.
BONUS
% %

6. STAYING AHEAD WITH INNOVATIVE TECHNIQUES AND TECHThe shopping app insights report
6
Tiahn Wetzler
Director of
Content & Insights
Shopping apps are transforming how consumers interact
with brands and make purchases. By working with AI
and AR, and integrating dynamic channels like social
commerce and CTV, marketers can enhance user engagement and
create experiences that drive high conversion rates. In a competitive
market, where engagement and customer loyalty are critical to moving
the bottom line, staying at the forefront of intergenerational consumer
expectations—and the technologies behind them—is paramount. As
the shopping app landscape evolves, scalable growth will be achieved
through a strategic channel mix, smart personalization, and a data-
obsessed approach to measurement and analytics.”

7. The shopping app insights report 7
25%
13%
-9%
34%
27%
-74%-36%
13%
-1%
21%
152%
E-commerce installs climbed 25% YoY
globally in H1 2024, and sessions rose
by 13%. Surpassing the overall vertical’s
average, shopping app installs rose 61%
YoY. Q4 shopping holidays like Black
Friday and Singles’ Day (Double 11) result
in huge install increases, as seen in 2023's
peaks. Installs were 40% above the daily
average on October 17 and 41% higher on
October 18.
LATAM and MENAT saw the highest YoY
growth in H1 2024. Installs were up 107%
and 152%, and sessions up 27% and 21%,
respectively. Looking at the key Q4 period,
Europe saw the largest install jump–rising
164% YoY in Q4 2023. E-commerce app installs and sessions
January 2022 - June 2024 (Global)
The state and evolution of
e-commerce and shopping apps
E-commerce app install and session growth
percentages YoY H1 2023 - H1 2024
50%
-50%
200%
150%
100%
0%
-100%
Global APAC Europe LATAM MENA North America
Installs
Sessions
APR 22
MAY 22
JUN 22
JUL 22
AUG 22
SEP 22
OCT 22
NOV 22
DEC 22
JAN 23
FEB 23
MAR 23
APR 23
MAY 23
JUN 23
JUL 23
AUG 23
SEP 23
OCT 23
NOV 23
JAN 22
FEB 22
MAR 22
MAR 24
APR 24
MAY 24
DEC 23
JAN 24
FEB 24
Installs
Sessions
107%
On November 13, 2023, two days before Mexico’s El Buen Fin, e-commerce app installs surged 23% and sessions
increased by 33% above the country’s daily average in 2023.
BONUS
JUN 24

8. The shopping app insights report 8
The methodology
VERTICALS:
E-commerce (all), shopping, deal discovery, and marketplace & classifieds.
REGIONS:
Global, APAC, Europe, LATAM, MENAT, and North America.
COUNTRIES:
Brazil, France, India, Indonesia, Ireland, Japan, Mexico, Philippines, Singapore, South Korea,
Thailand, Turkey, the United Kingdom (U.K.), and the United States (U.S.).
DATASET:
A mix of Adjust’s top ~3,000 apps and the total dataset of all apps tracked by Adjust. Our data
comes from two sources, one including a list of 45 countries and one with approximately 250
based on the ISO 3166-1 standard.
DATE RANGE:
January 2022 - June 2024
All dollar amounts represented are USD.
Methodology and
key takeaways
Shopping app installs globally grew 61% YoY from
H1 2023 to H1 2024.
The global median IPM increased nearly 18% from
1.94 in 2023 to 2.28 in H1 2024.
+61
%
+18
%
+40
Thailand had the highest ARPMAU peak in Q4 2023,
40% higher than the country’s 2023 median.
Key takeaways
Session lengths of e-commerce apps have decreased
globally by 6% from 2022 to H1 2024.
The global month 0 LTV median in 2023 was $4.14.
-6
%
4.14
$
%

9. The shopping app insights report 9
PART 1
The e-commerce and
shopping app user lifecycle
Installs, sessions, and retention rates

10. SESSIONS
North America
North America recorded
e-commerce app session spikes
throughout 2023 on shopping
holidays vs. the corresponding
month’s daily average for the country.
Memorial Day Amazon Prime Day Black Friday
+22% +66% (Day 1)
+55% (Day 2)
+11%
INSTALLS
Global
Deal discovery apps experienced
the largest install surges among
e-commerce subverticals worldwide
in May 2023, spiking on key days vs.
the month’s daily average.
May 1
May 8
(Pre-Mother’s Day)
May 15
(Post-Mother’s Day)
+131% +137% +157%The shopping app insights report
10
Days of interest for e-commerce and
shopping app installs and sessions

11. The shopping app insights report 11
E-commerce app session lengths
2022 - H1 2024 (Global)
E-commerce app session lengths by region and
country H1 2024
Globally, e-commerce app session lengths decreased by
6% between 2022 and H1 2024, down from an average of
11.2 minutes to 10.5. Shopping apps saw the largest change,
dropping 15%. In the e-commerce vertical–particularly for
shopping apps–decreasing time in-app can be a positive
indication of more efficient user journeys and the adoption of
frictionless payment options.
Compared to the global 10.5-minute average, MENAT’s
e-commerce apps had the highest session lengths at 12
minutes, followed by Europe at 11.2 minutes. Indonesia had the
lowest average session length at 7.5 minutes, despite APAC's
overall higher 10-minute average.
0 42 128 106
All
Shopping
Deal
discovery
Marketplace
& classified
0.12
0.04
0.05
0.01
0.02
0.07
0.03
0.03
0.03
0.10
0.03
2022
2023
H1 2024
11.2
10.7
10.5
7.1
6.6
11.2
11.4
9.7
India's e-commerce app session
lengths increased 19% YoY in H1
2024. The MENAT region saw an
11% increase.
BONUS
Time in minutesTime in minutes
12
9
8.6
8.2
9.1
9.9
10.1
11.2
7.5
7.7
9.3
9.3
10
9.6
10.5Global
APAC
India
MENAT
Indonesia
Japan
Europe
France
Turkey
U.K. & Ireland
LATAM
Brazil
Mexico
North America
U.S.
0 42 12 148 106

12. The shopping app insights report 12
SUCCESS STORY
Indian same-day grocery delivery app 1K Kirana reduced
cost per first transaction (CPFT) by 23%
using Adjust’s real-time raw data.
[Adjust’s] raw reports aided in creating a custom dash-
board which was plugged into some other elements of
the business, resulting in richer insights. Without Adjust
analytics, the acquisition & retention team would be
shooting in the dark.
Ankush Mangat
Manager - Digital Brand &
Marketing
Raw data analysis for
precise budget allocation
The insights gained from raw data analysis can help
to identify UX issues and churn points. These insights
can then be leveraged to reduce friction and shrink time-
to-purchase.

13. The shopping app insights report 13
E-commerce app sessions per
user per day 2023 (Global)
E-commerce app sessions per user
per day by region 2023
0 0
0.2
0.2
1.2
1.2
1.4
1.4
1.6
1.6
1.8
2.0
1.0
1.0
0.8
0.8
0.6
0.6
0.4
0.4
Both deal discovery and shopping apps closely reflected the
overall vertical’s day 0 sessions per user per day. In 2023, the
overall global median was 1.48, while the respective subverticals
recorded 1.45 and 1.46 medians. However, it was marketplace and
classifieds apps that remained higher across the board, dipping
from 1.84 sessions on day 0 to 0.2 on day 30.
APAC and Europe tied for the highest regional medians for day
0 sessions per user per day in 2023 at 1.43. North America came
in slightly lower at 1.32. Globally, users logged more sessions in
Q1 2024 than one year earlier, with day 0 sessions up 9% YoY,
day 7 by 55%, day 14 by 54%, and day 30 by a huge 77%.
Day 0 Day 0
Day 14 Day 14
Day 30 Day 30
Day 7 Day 7
Global
Deal
discovery
All North AmericaAPAC
Marketplace and
classifieds
Europe MENATLATAMShopping
1.48
0.060.07
0.20
1.48
1.43 1.43 1.42 1.42
1.32
0.07
0.10
0.14 0.120.11 0.11 0.11
0.08
0.090.08 0.08 0.08
0.06
0.060.06 0.05 0.05
0.04
1.45
1.84
1.46
0.09

14. The shopping app insights report 14
E-commerce app retention
rates 2023 (Global)
E-commerce app retention rates
by region 2023
0%
2%
12%
14%
20%
16%
10%
8%
6%
4%
In 2023, e-commerce apps averaged an 18% day 1 retention
rate globally, dropping to 5% by day 30. Deal discovery apps
also started at 18% but maintained a higher 7% retention by day
30, while shopping apps fell from 17% to 4%. Marketplace and
classified apps had the strongest retention, starting at 26% on day
1 and dipping to 9% by day 30.
Europe had the highest day 1 retention rate for e-commerce
apps, at 15.6%, followed by APAC and MENAT, each at 15%.
Europe also had the highest day 30 retention—4.2%. North
America had the lowest day 1 (11%) and day 30 (2.8%) retention,
highlighting an opportunity to sharpen retention strategies.
Day 0
Day 14
Day 30
Day 7
Global North AmericaAPAC Europe MENATLATAM
18.1%
15%
15.6%
14.4%
15%
11%
5%
7. 2%
10%
8.3%
7.5% 7.4% 7.4%
5%
6.3%
5.6% 5.5%
5%
3.8%
4.2%
3.8%
3.6% 3.6%
2.8%
0%
Day after install
AllDeal discoveryMarketplace & classifiedsShopping
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0 308 182 14 2416 26 2810 204 12 2261 3 5 7 2113 19171511 239 25 27 29
Europe’s strong 2023 retention
was heavily influenced by the
marketplace and classified
subvertical, which started at 22% on
day 1 and lowered to 8% by day 30.
BONUS
18%

15. “ Given the competitive landscape of e-commerce in North America,
the lower retention rates observed in the data highlight a critical need
for greater investment into strategic retention efforts. High initial user
drop-off emphasizes the importance of personalized and engaging
experiences to keep customers excited. Understanding customer
behavior through advanced analytics and implementing targeted,
data-driven engagement strategies is key to improving retention.
By fostering meaningful interactions and delivering value at every
touchpoint, brands can transform early adopters into loyal customers,
ultimately driving sustained growth in this saturated market.” The shopping app insights report
15
Rachel Bergman
GM North America

16. The shopping app insights report 16
PART 2
Evaluating the price tag
of user acquisition
Cost per install, impression,
and click + partners per app

17. The shopping app insights report 17
TIP
Boost IPMs by improving campaign
engagement with localized and
personalized content. Focus on
optimizing ad placements to
mitigate rising eCPM. Experiment
with a diverse channel mix to
identify the best-performing options
for each stage of the funnel.
Power up your omnichannel success (and
ROI) with best-in-class CTV and OTT cam-
paign measurement.
E-commerce app IPM by region 2023 - H1 2024 E-commerce app eCPM by region 2023 - H1 2024
The global median installs per mille (IPM) rose from 1.94 in
2023 to 2.28 in H1 2024, indicating improved ad campaign
effectiveness. APAC saw a significant increase from 1.53 to
3.06. Europe's IPM fell from 2.08 to 2.02, likely due to the
more complex privacy and advertising space.
The global median effective cost per mille (eCPM) rose from
$1.46 in 2023 to $1.87 in H1 2024. Europe surpassed this
median, increasing from $3.25 to $3.27–driven largely by
Germany’s increase from $5.46 to $5.96. APAC, on the
other hand, experienced a slight decrease from $1.22 to $1.18.
0
0.5
0
3.5 12
3
10
2
6
1
2
1.5
4
2.5
8
2.28
1.87
1.94
1.46
3.06
1.18
1.53
1.22
2.08
3.25
2.02
3.27
1.7
0.68
1.63
1
Global GlobalMENAT MENATAPAC APACEurope Europe
2023 2023
H1 2024 H1 2024
$USD
Despite a dip in Europe, Germany’s IPM rose from 1.88 to 2.1. Similarly, while MENAT’s IPM decreased,
Turkey's increased from 1.99 to 2.13.
BONUS

18. The shopping app insights report 18
E-commerce app eCPI by region 2023 - H1 2024 E-commerce app eCPC by region 2023 - H1 2024
Globally, the median effective cost per install (eCPI) decreased
from $0.99 in 2023 to $0.82 in H1 2024. APAC saw a decrease
in eCPI from $0.98 to $0.53. Europe also saw a decline from
$1.84 to $1.72. Meanwhile, MENAT rose from $0.42 to $0.47.
The global median effective cost per click (eCPC) for
e-commerce apps increased from $0.1 in 2023 to $0.12 in
H1 2024. Europe rose from $0.21 to $0.26. MENAT’s median
eCPC was a stable $0.04 in both 2023 and H1 2024.
TIP
Turkish retailer Migros leveraged Adjust
to receive all revenue data in their local
currency, supported by Adjust’s 150+
currencies for reporting.
Read the full
case study here:
Migros
Implementing automated bidding
strategies helps control and optimize
spending. Additionally, using
performance analytics to adjust bids and
placements based on user engagement
can reduce costs by focusing on the most
effective channels and times.
0
0.2
0.4
0
2 0.3
1.8
1.6
0.25
1.2
0.15
0.6
0.8
0.05
1
0.1
1.4
0.2
0.82
0.12
0.99
0.1
0.53
0.09
0.98
0.14
1.84
0.21
1.72 0.26
0.42
0.04
0.47
0.04
Global GlobalMENAT MENATAPAC APACEurope Europe
2023 2023
H1 2024 H1 2024
$USD
$USD
Germany’s eCPI dropped from $3.12 in 2023 to $2.79 in H1 2024, while Turkey's increased from $0.26 to $0.31.
BONUS

19. The shopping app insights report 19
The global click-through rate (CTR) for e-commerce apps increased to 1.9%
in H1 2024 from 1.8% in 2023. Europe declined from 1.9% to 1.7% during this
period, while MENAT increased from 1.7% to 2%. Turkey also saw a big jump,
rising from 2% to 2.4%.
0% 0.5% 1% 1.5% 2%
0.9%
1.9%
1.9%
1.7%
1.7%
2%
1.8%
1%
E-commerce app CTR by region and country 2023 - H1 2024
APAC
Global
Europe
MENAT
2023
H1 2024

20. The shopping app insights report 20
E-commerce partners per app 2023 - H1 2024 (Global)E-commerce app eCPC by region 2023 - H1 2024
E-commerce apps globally increased from 10.1 partners per
app in 2023 to 11.2 in H1 2024. Shopping apps grew from 10 to
11 partners, approaching the overall vertical median. Growth
across subverticals suggests diversification is helping to reach
the right audiences.
APAC and MENAT had the highest number of partners per app,
rising from 10.7 to 11.8 and 10.5 to 11.8, respectively, from 2023
to H1 2024. LATAM saw the most notable jump, increasing 50%
from 7.7 to 11.6 partners.
0 0
2
4
12
10
8
4
12
6
8
2
10
6
14
11.2
11.2
10.1
10.1
9
9.5
11.8
8
10.7
8
7.7
10.59
11.8
11.6
10.5
10.3
11.3
Global North AmericaMENATAPAC Europe LATAM
2023 2023
H1 2024 H1 2024
APAC’s growth in partners per app was powered-up in part by the marketplace and classifieds subvertical, which
increased 8% from a median of 12.8 in 2023 to 13.8 in H1 2024.
BONUS
Deal
discovery
All
Marketplace &
classifieds
Shopping
10
11

21. The shopping app insights report 21
PART 3
Converting clicks to
cash for revenue growth
User LTV, in-app revenue,
and average revenue per user

22. The shopping app insights report 22
In H1 2023 and H1 2024, in-app revenue for e-commerce apps
increased 36% YoY. The biggest spikes in 2023 occurred in Q4,
with November revenue 34% higher than the monthly average
and December up 22%. Adjust data also recorded that 60% of in-
app revenue came from Android devices.
Globally, the average revenue per monthly active user
(ARPMAU) for e-commerce apps in 2023 was $8.29. LATAM
recorded $15.34, a figure likely linked to the region’s significant
increase in partners per app.
E-commerce in-app revenue
January 2022 - H1 2024 (Global)
E-commerce app ARPMAU by region and
country 2023
JAN 22
FEB 22
MAR 22
APR 22
MAY 22
JUN 22
JUL 22
AUG 22
SEP 22
OCT 22
NOV 22
DEC 22
JAN 23
JAN 23
FEB 23
FEB 24
MAR 23
MAR 24
APR 23
APR 24
MAY 24
MAY 23
JUN 23
JUL 23
AUG 23
SEP 23
OCT 23
NOV 23
DEC 23
$USD
15.34
10.37
11.96
5.45
6.85
10.31
8.13
9.39
12.27
8.45
5.09
5.39
7.64
5.29
7.94
10.16
8.29Global
APAC
India
MENAT
Indonesia
Philippines
Singapore
South Korea
Thailand
Japan
Europe
France
U.K. & Ireland
LATAM
Mexico
United States
North America
0 42 12 14 16 188 106
The countries with the highest
ARPMAU growth in Q4 2023
compared to their respective 2023
medians were Thailand (+40%) and
Indonesia (+20%).
BONUS
JUN 24

23. The shopping app insights report 23
E-commerce app cumulative LTV
month 0 by region Q1 2024
Global user lifetime value (LTV) in Q1 2023 started at
$2.87 on day 0 and grew to $6.84 by month 0. Q3 had the
lowest LTV across the board, marking an opportunity to
introduce personalized offers, special sales, and pre-holiday
shopping promotions.
Globally, e-commerce apps recorded a median month 0
LTV of $4.14 in Q1 2024. LATAM demonstrated exceptional
monetization efficiency, with strong ARPMAU and LTV despite
average retention rates. Together, these metrics point to highly
engaged users who are willing to spend more in this region.
0
2
4
6
8
10
4.14
6.73
4.77
8.86
5.39
3.59
Global MENAT
North
America
APAC Europe LATAM
E-commerce app cumulative LTV 2023 (Global)
0 4 5321 876
Q1 2023
Q2 2023
Q3 2023
Q4 2023
2.74
6.38
4.16
5.82
3.94
2.53
4.32
Day 0
Week 0
Month 0
2.87
4.64
6.84
2.74
6.35
$USD
$USD

24. The shopping app insights report 24
Shopping apps are at the forefront of
mobile innovation. By incorporating new
technologies that enhance user engagement
and create seamless experiences, marketers
will see conversion rates and revenue climb.
In an ultra-competitive market, however,
staying ahead of ever-shifting consumer
expectations is essential. For sustainable,
long term growth, leveraging next-gen
technologies, diverse ad formats, and
channels like CTV and social commerce are
critical. Success in these areas is contingent
upon reliable data.
Our analysis revealed that spending and
user activity in shopping apps spikes during
the high-volume Q4 period, as well as
during other points of interest like May. It’s
important that marketers develop a strategy
to maximize the potential of these key
moments. With metrics like LTV dipping in
Q3, however, the opportunity for targeted
re-engagement efforts between the boom
periods is clear. Loyalty programs—and even
subscription models and memberships—
can help to establish a steady, year-round
revenue stream.
To supercharge conversion rates, a seamless
shopping experience across web, app, CTV,
and even offline touchpoints is invaluable.
Apps that successfully craft a cohesive
omnichannel journey will create the best
customer experiences. And the best
customer experiences translate into the best
performing apps. Frictionless deep linking
and seamless transactions via mobile wallets
are key for a smooth experience. These
components not only boost efficiency and
user satisfaction, but also lead to decreased
session lengths (faster conversions) and
increased in-app revenue.
Adjust is your partner in achieving
sustainable growth. In addition to providing
you with best-in-class mobile app attribution,
we’re at the forefront of next-generation
measurement solutions like AI-powered
incrementality testing and marketing mix
modeling. These tools future-proof your
marketing and measurement strategy,
keep you ahead of privacy regulations
and frameworks, and enable unparalleled
efficiency and effectiveness in campaign
optimization. We equip you with everything
you need to hit and exceed your shopping
app growth goals.
CONCLUSION
From data to dollars: Elevating
conversion rates and revenue
Learn how global B2C e-commerce
company LightInTheBox migrated
to Adjust with minimal impact on
daily operations.
Read the full
case study here:
LightInTheBox

25. ABOUT ADJUST
Adjust, an AppLovin (NASDAQ: APP) company, is trusted by marketers
around the world to measure and grow their apps across platforms,
from mobile to CTV and beyond. Adjust works with companies at every
stage of the app marketing journey, from fast-growing digital brands
to brick-and-mortar companies launching their first apps. Adjust’s
powerful measurement and analytics suite provides visibility, insights
and essential tools that drive better results.
adjust.com
Learn more about Adjust at:
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