With the rise in Internet and smartphone penetration in India, the top 10 retail apps in the country have seen a 4.4x year over year growth, and even surpassed growth in developed markets like the US and Japan. The figures were provided by App Annie, an app analytics and app market data provider. It also provided an insight which factors are helping mobile commerce growth in India. Also Read - "Mobile payments exceeded ATM cash withdrawals for the first time" in India last year: PM ModiAlso Read - Using Paytm Transit card you can travel in metro, bus, train and more cashless
According to the report, the growth was driven by India s mobile-first apps such as Flipkart and Paytm, with Amazon completing the top three. The report attributes first time smartphone users across India for such phenomenal growth in retail apps. Also Read - Nothing Ear 1 gets a temporary price cut on Flipkart: Here's the new price
Another interesting trend the report reveals that six out of the top 10 retail apps have a mobile-first retail strategy. This is in stark contrast with trends in developed markets such as the US where retailers who are actively selling offline and online have about 40 percent of downloads.
It points out Flipkart and Snapdeal, which rank number one and four respectively, are highly focused on mobile platforms, and highly successful in retail app space. Although apps like Flipkart offer their mobile web versions for users, both apps offer significant deals and savings for shoppers when making transactions on mobile, the report adds.
The report further points out how mobile-first retail apps are wooing first time smartphone users by specific approaches to engage shoppers with mobile retailing.
Evidently, India s mobile-commerce is growing thanks to factors such as smartphone penetration and mobile-first strategy. However, slower networks and wider availability of low-end phones have been a few challenges for the retail and other companies focusing on mobile platforms.
Recently Flipkart launched a new mobile web app optimized for slower networks. Called Flipkart Lite, the web app provides features equivalent to the app version on mobile phones. Myntra, which was acquired by Flipkart, is also planning a similar format for its mobile browser version. Rival Snapdeal has also launched a lite version of its mobile site, called Snap-Lite to cater to customers on slower Internet connections.