UAE consumers increasingly turning to mobile apps for finance and retail services

New research show mobile app installs and spending among UAE consumers is on the rise indicating maturity of mobile as a primary engagement channel with businesses.

As businesses in the UAE double down on mobile apps in a bid to increase customer engagement and spending, they are seeing highly positive results for their efforts with the overall number of installs of mobile apps in the country growing 23% in H1 2022, compared to the same period last year.

While finance apps were by and large the most successful, with installs growing a staggering 183%, other categories that posted noteworthy app install growth included entertainment (31%), travel (36%), social (30%), and food & drink (15%).

It’s clear that as we emerge into the post-pandemic world, the accelerated momentum toward mobile that we’ve witnessed over the last two years has now created a mobile-first mindset among consumers and businesses. 

While this is ushering in a new era of convenience for consumers, it has greatly increased the competitiveness of the space. Businesses must now seek innovative and measurable means of enhancing user experiences and increasing engagement on their mobile apps.

For UAE businesses, increasing the download and utilization of their mobile applications could now prove to be a ‘make or break’ for their bottom line as consumer spending on mobile apps is also on the rise. Over the one-year period between March 2021 and February 2022, in-app purchases increased 9%.

Here too finance apps stood clearly ahead of the pack with nearly three-fold (277%) growth in in-app purchases, while eCommerce applications enjoyed 41% growth despite the previously mentioned drop in installs.

While there clearly appears to be a growing preference among UAE consumers to engage with businesses via apps, the fact that 9 out of 10 UAE organizations today offer a mobile app makes this a highly competitive space. For this reason, mobile app marketers have a key role to play in driving the success of their organization's mobile-first strategies.

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