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Foodtech Apps Enjoy 60% Higher Repeat Transaction Rates Compared to E-commerce: Report

According to App Annie’s State of Mobile Report 2022, time spent on shopping apps scaled to more than 100 billion hours

Foodtech Apps Enjoy 60% Higher Repeat Transaction Rates Compared to E-commerce: Report
POSTED ON May 15, 2023 10:48 AM

CleverTap has released the findings of its food tech and e-commerce industry benchmark report, App Annie’s State of Mobile Report 2022, which revealed that these apps experienced exponential growth during the pandemic

Time spent on shopping apps scaled to more than 100 billion hours, witnessing an 18 per cent year-on-year (y-o-y) growth. Users spent 50 per cent more sessions YoY in 2021 than in 2020 on food tech apps.

The benchmark reflects data from Asia-Pacific, Europe, India, Latin America, the Middle East, and North America. It stated that 16 per cent of new users of food tech apps complete more than one transaction in the first week. Best-in-class customer service will help boost this metric and keep customers returning for more. 

The company has claimed food tech companies need to be quick to offer special deals to new users and drive conversions. 

For e-commerce marketers, the challenge and opportunity are to ensure that their company's app not only stands out in a crowded and fiercely competitive market. They also need to encourage users to make quick purchases, return frequently to buy more, and hopefully, spend a sizable sum with each transaction, the report stated.  

“The findings from our benchmark reports are aimed to help marketers improve engagement and user journeys by providing insights into the behaviour of e-commerce and food tech app users,” said Jacob Joseph, VP-Data Science, CleverTap

“As the app economy continues to expand, food tech and e-commerce marketers will need to find ways to drive customer ‘stickiness’, which currently stands at a meagre 15 per cent and 17 per cent, respectively. Customised messaging informed by behavioural insights are crucial in getting customers to return to the app interface and drive up this metric,”  he added. 

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