The positive growth in consumer spending actually began in late 2022, as is typical around the holiday season as people buy new phones and tablets as gifts and have more free time on their hands to download, use and spend on mobile apps and games. The new analysis proves it appears to be the former which - combined with other factors, including inflation - had tightened consumers’ wallets.
Data.ai’s 2022 findings were based on consumer spending across all app stores, including third-party Android app stores in China, including paid app installs, in-app purchases and subscriptions.Īt the time, data.ai CEO Theodore Krantz remarked how “macroeconomic factors” had been “dampening growth in mobile spend.” However, it wasn’t clear if the decline had been a short-term correction to the rapid growth following the COVID-19 pandemic or a sign the market had peaked, data.ai today explains. It was the first slowdown since the launch of the App Store and came a year after the app market had seen 19% year-over-year growth in 2021. Last year, consumer spending had declined by a slight, but worrying, 2% to $167 billion.
Data.ai now attributes last year’s decline to consumers “battling inflation,” which had created a “temporary blip” in the long-term sustained growth of the mobile app market, as opposed to something more endemic to the app ecosystem itself - like global markets reaching a point of saturation in terms of consumer spending, for example.
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