Question of the Day: What app category had the highest growth among Gen Z in 2020? Finance, Shopping or Social Media?
Answer: Finance with about 60% growth in time spent on apps
- What has caused the growth in Gen Z's interest in Finance apps?
- Do you have financial apps on your phone?
- If so, which do you use most often?
- If not, why not?
- What are the pros of cons of using your mobile phone to learn and/or manage your finances?
Behind the numbers (Business of Apps):
"Generation Z is emerging as one of the most powerful consumer segments as new data released by App Annie reveals that they spent an average 4.1 hours on apps during the third quarter of 2020. And that estimate doesn’t even include games.
Meanwhile, finance and shopping app categories saw notable gains year-on-year, as Gen Z spent 60% of their time with apps in these categories during Q3 2020 compared to the same quarter the year before.
Finance apps like Venmo and DANA are more likely to be over-indexed which goes to show that Gen Z prefer mobile-first banking approaches."
Give your students an opportunity to learn more about the Game Stop Frenzy and hows apps influenced the market in this blog post.
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