Key Takeaways:
US downloads across the retail cohort in 4Q23 fell -12% YoY (ex-Abercrombie) while MAUs dipped -10% YoY. Swedish retailer H&M reported a decrease in sales during the 2023 holiday season, in line with declines in its US MAUs (-15% YoY) and downloads (-24% YoY), potentially due to rapid growth on competing platforms such as Shein and Temu
Per ST data, Abercrombie’s mobile app saw an uptick in US MAUs and downloads in 4Q23, up 58% and 54% YoY, respectively
Most retailers closed out 2023 with depressed mobile app usage, as downloads and MAUs fell an average of -18% YoY and -8% YoY, respectively (ex-Abercrombie), for the cohort. However, Abercrombie & Fitch has been able to buck that trend, as downloads and MAUs climbed steadily over the past two years. US downloads and MAUs surged by 49% and 52% YoY, respectively, for Abercrombie & Fitch in 2023
Abercrombie’s growth and rebranding efforts have paralleled its investment in advertising as the brand was one of the top 150 US advertisers in 4Q23. Across the larger cohort of retail advertisers, Abercrombie accounted for 14% of spend in 4Q23, as Gap overwhelmingly outspent the competition with 41% of spend across the cohort
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