Consumers are estimated to spend over 110 million hours in shopping apps on Android devices during the shopping period that now extends over two weeks.
And mobile is a key device this season given the quick adoption of mobile in light of the coronavirus crisis.
App Annie said that demand for shopping apps was up in the days before Black Friday with Walmart ranking top among US shopping apps overall, followed by Amazon, Target, OfferUp and Wish.
The rapid adoption of shopping apps is also having an effect on ad spending.
Data produced by MoPub earlier this year found that ad spend on retail apps grew 32% year-on-year in October 2020.
John Bonanno, Revenue Manager at MoPub said: “This data suggests that despite everything that happened in 2020, there is still increasing interest in the retail/apparel sector and the holiday shopping on mobile should be at full swing.”
Full and rewarded video mobile ad formats have proven most effective for larger retailers according to the research. Rewarded video click-through rates grew 7.2% year-on-year.
“One interesting trend MoPub has noticed in recent months,” John Bonanno noted, “ is an increase in CTR for Big Box Stores for app-endemic full-screen ad formats including rewarded video. This tells us that advertisers are successfully expanding into newer ad formats to engage audiences.”