Market Volatility Sends Everyone to the App Store (and Google Play)
This is a single insight from This Week in Apps - Catching Up?. Check out the full article for more insights.
Financial markets in the US have had quite a stormy week. The kind that breaks records and makes those who knew what to do end the week with a new Lambo.
Looking at downloads of popular apps in the US, lots of people wanted their shot at a Lambo, causing downloads of the top investment apps to more than double!
I compared the download trends of Robinhood, Fidelity, Schwab, and E*Trade this week vs the average using our App Intelligence intelligence and the results were exactly as I had expected - demand for all four rose instantly!
Of the four, Schwab had the smallest increase, growing just 61%. E*Trade did even better!
According to our estimates, E*Trade's downloads rose 73% this week compared to its average in March.
When it comes to traditional investment apps, Fidelity is in the lead and that's why its downloads rose a whopping 97% this week. Nearly double its daily average.
And in first place, with both the highest growth and most downloads, we have Robinhood, which saw downloads more than double this week.
The four apps got a total of 154K downloads from the App Store and Google Play on Monday and Tuesday. That means 154K new investors (and potential lambo owners) used an app to invest in just two days of market volatility.
While I'm no financial advisor, I don't expect volatility to stop any time soon. I do expect to see, however, the impact of market conditions on apps, and those who are ready will win.
Are you ready?
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The insights in this report come right out of our App Intelligence platform, which offers access to download and revenue estimates, installed SDKs, and more! Learn more about the tools or schedule a demo with our team to get started.
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All figures included in this report are estimated. Unless specified otherwise, estimated revenue is always net, meaning it's the amount the developer earned after Apple and Google took their fee.
