Similarweb’s Apps 100 Finds Temu, Hims, and Lisa AI Tops in their Categories
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Insights
The exponential growth in user engagement for mobile applications across various categories, as indicated by Similarweb's Apps 100 report, underlines a significant shift in consumer behavior. The surge in monthly active users (MAUs) suggests that businesses are successfully tapping into the mobile-first trend, where consumers increasingly rely on apps for services ranging from shopping to health and fitness.
From an investment perspective, this trend is pivotal. Companies that demonstrate an ability to scale their user base and maintain high engagement rates are likely to attract investor interest. For instance, the remarkable 4,173% increase in MAUs for the shopping app Temu signals not only a strong market presence but also a potential for high revenue growth, given the direct correlation between user engagement and monetization opportunities.
Furthermore, the integration of artificial intelligence (AI) in photography apps and potentially other categories represents a technological edge that could drive future growth. The adoption of AI technologies is a key differentiator that may improve user experience, create new revenue streams and provide a competitive advantage.
The data provided by Similarweb offers valuable insights into the financial health and growth prospects of companies behind these mobile applications. For instance, a 1,000% increase in engagement within a year is an indicator of strong product-market fit and user retention, which are critical metrics for assessing a company's performance.
Investors should note the scalability of these apps, as reflected by their MAU growth. High MAU growth rates can lead to increased advertising revenue, in-app purchases and subscription models, all contributing to a robust top-line growth. In the case of Temu, with over 107 million average MAUs, the potential for revenue generation through scale is significant and this could be reflected in the company's stock price and market valuation.
It is also important to consider the sustainability of such growth rates. While high percentage gains are impressive, they must be analyzed in the context of the company's ability to continue innovating and retaining users amidst increasing market competition and changing consumer preferences.
The Similarweb report underscores a crucial development in the technology landscape, particularly the role of mobile applications as a primary interface for user engagement. The emphasis on MAUs over downloads is a more accurate reflection of actual usage and, by extension, the value of an app to its user base.
Companies like Temu, which have experienced explosive growth, are leveraging mobile technology to enhance the user experience through features like gamification. This strategy not only drives user engagement but also sets a precedent for how mobile apps can be optimized for user retention and monetization.
The use of AI in mobile apps is another noteworthy aspect. It represents a broader trend within the tech industry towards more personalized and intelligent user experiences. As AI continues to evolve, its integration within apps could become a standard, influencing user expectations and the strategic direction of app development.
In categories like Shopping, Health & Fitness, Photography, and Business, top apps grew engagement by over 1,
The most successful digital businesses build engagement with consumers across all channels, but pay ever-increasing attention to the intimate and constant connections mobile apps make possible. Convincing the right consumers to download your app is a victory, but getting them to use it regularly is the ultimate goal. Similarweb’s Apps 100, a new companion to the Digital 100 ranking of websites, distinguishes itself from other app rankings by providing insight into user engagement.
Building on the Digital 100 methodology, Similarweb identified the apps with the most growth between 2022 and 2023. The ranking is based on estimates of average monthly active users (MAU) for iOS and Android combined within the US. Studying MAUs, rather than app downloads, shows how much apps are actually used – a metric far more significant than downloads for most businesses.
The winners in 10 categories
The full Apps 100 identifies 10 winners in 10 industry categories, with the 10 category winners listed below, ranked by those that showed the biggest percentage gain.
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Shopping: Temu: Shop Like a Billionaire, +4,
173% , 107M average MAU for iOS and Android combined in 2023 -
Health and Fitness: Hims: Telehealth for Men, +2,
175% to 1.5M MAU -
Photography: Lisa AI: Cartoonify Avatar Art, +1,
064% to 979.2K MAU -
Streaming and Media: The Chosen, +1,
014% to 511.4K MAU -
Personal Finance: Fidelity Bloom: Save & Spend, +
748.4% to 827.7K -
Business: Etsy Seller: Manage Your Shop, +
451.2% to 1.3M -
Travel and Tourism: Airalo: eSIM Travel & Internet, +
369% to 540.1K MAU -
Food and Drinks: Food Lion To Go, +
143.5% to 441K MAU -
Education: Plantum - Plant Identifier, +
106% to 847.2K MAU -
Home and Real Estate: Wansview Cloud, +
55.3% to 429.5K
“The best digital businesses are not web-only or app-only, but understand how to meet their customers wherever they are and pay close attention to their needs,” Similarweb CEO Or Offer said. “Clearly, getting your app on a device people carry with them wherever they go is huge, but only if they actually open your app and use it on a regular basis. That’s what makes the Apps 100 winners so impressive.”
To qualify for inclusion, each app had to have averaged more than 300,000 monthly active users in 2023 and at least 30,000 in 2022. Discount shopping juggernaut Temu qualified even though it launched in the US in late 2022. Temu grew so fast that the engagement in those first few months averaged out to more than 2.5 million MAU in 2022. That growth continued into 2023, when Temu’s average monthly active users topped 107 million.
“While Temu also saw dramatic growth in web traffic, it always encourages app downloads and delivers many of its most powerful features through mobile apps, including enhanced gamification of the shopping experience,” said Inès Durand, Senior Market Insights Manager at Similarweb and one of the lead authors of the report. “Many of the other winners also take an app-first approach and rightfully so.”
“We saw another megatrend at play in the photography category, where the top 5 apps all used AI to enhance or modify images,” Durand said. “I suspect many of the other apps in other categories are employing AI behind the scenes.”
For full details, download the Apps 100 report.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240213398912/en/
Press:
David F. Carr
Similarweb
david.carr@similarweb.com
Investors:
Raymond “RJ” Jones
Similarweb
raymond.jones@similarweb.com
Source: Similarweb
FAQ
Which app in the Shopping category showed the highest percentage gain in MAU according to the Similarweb Apps 100 ranking?
What is the name of the app in the Health and Fitness category with a +2,175% increase in MAU according to the Similarweb Apps 100 ranking?
Which app in the Photography category experienced a +1,064% growth in MAU based on the Similarweb Apps 100 ranking?
What is the name of the app in the Business category that had a +451.2% increase in MAU as per the Similarweb Apps 100 ranking?
According to the Similarweb Apps 100 ranking, which app in the Personal Finance category had a +748.4% growth in MAU?
