{"id":9544,"date":"2021-03-23T12:59:48","date_gmt":"2021-03-23T16:59:48","guid":{"rendered":"https:\/\/gwsolutions.com\/gen-z-doubles-time-spent-on-financetrading-apps-during-pandemic-year-phone-use-among-all-consumers-up-more-than-an-hour-per-week-led-by-finance-and-social-media-app-growth\/"},"modified":"2023-11-30T07:49:13","modified_gmt":"2023-11-30T12:49:13","slug":"gen-z-doubles-time-spent-on-financetrading-apps-during-pandemic-year-phone-use-among-all-consumers-up-more-than-an-hour-per-week-led-by-finance-and-social-media-app-growth","status":"publish","type":"post","link":"https:\/\/gwsolutions.com\/2021\/03\/23\/gen-z-doubles-time-spent-on-financetrading-apps-during-pandemic-year-phone-use-among-all-consumers-up-more-than-an-hour-per-week-led-by-finance-and-social-media-app-growth\/","title":{"rendered":"Gen Z Doubles Time Spent on Finance\/Trading Apps During Pandemic Year; Phone Use Among All Consumers Up More Than an Hour Per Week Led by Finance and Social Media App Growth"},"content":{"rendered":"

\u2018The Pandemic Year in Mobile Apps\u2019 Report Highlights Consumer App Usage Data Sourced From GWS\u2019 OneMeasure Consumer Panel<\/em><\/p>\n

DULLES, VA \u2013 March 23, 2021<\/strong> \u2013 New data from \u2018The Pandemic Year in Mobile Apps<\/a>\u2019 report conducted by Global Wireless Solutions (GWS)<\/a> shows that consumers spent an average of four hours per day on their smartphones during COVID-19\u2013\u2013up ten minutes per day when compared to mobile usage pre-pandemic. When looking at types of apps\u2013\u2013such as social media, video, games\u2013\u2013time spent on personal finance\/trading mobile apps grew the most during the pandemic year (63%). This growth was fueled by Gen Z consumers who clocked an 102% increase in total hours. Time spent among all consumers on social media apps increased by 25% during the pandemic, and accounts for the most amount of time consumers spent on their phones\u2013\u2013more than an hour per day.<\/p>\n

GWS\u2019 report offers unique insights into consumer mobile behavior during the first year of COVID (March 2020 – February 2021), highlighting how usage has changed when compared to the prior 12 months. GWS obtained this data through its opt-in OneMeasure Consumer Panel<\/a>, which evaluates the mobile app usage and content of ~80,000 consumers located across the U.S.<\/p>\n

\u201cWhen Coronavirus took hold, smartphones became further cemented as a link between isolated consumers and the world at large, thus their usage is increasingly becoming an accurate reflection of human behavior on the whole,\u201d said Dr. Paul Carter, GWS Founder and CEO. \u201cWe expect that sustained consumer mobile behavior changes will have a lasting effect on how consumers engage with businesses over the long term, and will be a major aspect to establishing what normal looks like now.\u201d<\/p>\n

Other key takeaways from The Pandemic Year in Mobile Apps<\/a> report include a more in-depth look at a day in the life of a consumer as seen through interactions with their smartphones. In particular, the following provides key insights into how consumers spent their time accessing certain types of apps during the pandemic. And since not all consumers are the same\u2013\u2013some may focus more on lifestyle apps (such as shopping, dining, and directions), games, or finance\u2013\u2013GWS looked at \u201cpower users\u201d for these categories as well (i.e., consumers who spent 20% more time than the national average in a given category):<\/p>\n

People look to better manage their money<\/strong><\/p>\n

While consumers flocked to day trading and crypto trading apps, financial hardship was evident through massive usage growth of food stamp mobile apps. Every generation increased time spent on finance apps, with Gen Z leading the charge more than doubling the amount of time they spent checking out their finances (102%) and, in particular, their investments (127%).<\/p>\n