Robust growth expected in e-commerce sector
A joint study by Affle’s MAAS, a unified mobile advertising platform, and Sensor Tower, a US-based company, studied the factors, which have led to e-commerce adoption in India and Southeast Asia. In the report, The Dawn of the New-Age Shopper in the New Normal, the findings state that the last three quarters witnessed significant growth in daily active user (DAU) of top shopping apps.
Growth in India’s e-commerce sector
In India, top 10 apps averaged more than 7 million DAUs apiece in Q2 2021, witnessing 18% year-on-year (yoy) growth. By 2024, India’s e-commerce industry is expected to reach US$ 111 billion, with a growth of 84%. An annual growth of 22% is expected for e-commerce industry of Southeast Asia, with prediction for the market to reach US$ 146 billion by 2025.
In July-August 2020, installation of shopping apps showed strong yoy growth in India. In 2021 as well, the installation remained above 2019 levels. In July 2021, the shopping apps installs reached 80 million, resulting in at least 15 million more installs in comparison to previous month. The findings further state that Day 1 and day 7 retention for top shopping apps reached their highest average since 2020 in Q2 2021. Q3 2020 witnessed the highest number of long term retentions for top shopping apps