After a worrying decline in 2022, consumer spending on apps returns to record growth

After a worrying decline in 2022, consumer spending on apps returns to record growth

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2023-07-12 | 08:32

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After a worrying decline in 2022, consumer spending on apps returns to record growth

After a slowing of the app economy that saw consumer spending drop for the first time in 2022, things are starting to look up. According to a new report on in-app spending for the first half of 2023 from app intelligence provider data.ai, there’s once again positive growth in mobile consumer spending. The firm reports global in-app spending has rebounded with 5.3 percent year-over-year growth so far this year, reaching a record $67.5 billion for the first half of 2023. Downloads were also up by 3.2 percent.

That’s good news for app developers, publishers, and marketers who rely on the app ecosystem’s revenues to sustain their businesses.

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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