Why Tinder is losing momentum?
The most popular dating app in the world is beginning to lose some of its market shares, at least in part because of the behaviors of younger people.
This is one of the most important takeaways that can be obtained from the study that was published on Friday in the Financial Times.
According to a market analysis carried out by the app data business data.ai, the British economic daily said that Tinder downloads declined by 5 percent in 2021, while rivals like Bumble maintained growth in the same region.
Tinder CEO Gary Swidler said in an interview with the Financial Times that the number of new users signing up “has not recovered to pre-pandemic levels.”
Even though there are no concrete demographic statistics on user ages from which to make conclusions, FT’s reporting stated that the declining interest in Tinder among members of Generation Z might be to blame for the app’s gradual decline in popularity.
It was still downloaded tens of millions of times more than the app that finished in second place, Bumble, but one of those applications is gaining momentum while the other is losing it. Renate Nyborg, who had served as CEO of Tinder, departed the firm not more than a few weeks ago.
Swidler told the Financial Times that “a lot of elderly people” use the app, and that recruiting younger users will be critical to the company’s ability to recoup.
Attempts at innovation that have failed to succeed in drawing in new users haven’t helped the situation, either.
Tinder put on hold its plans to implement an in-app currency called “Tinder Coins” and reduced its focus on developing dating environments within the metaverse around the same time that Nyborg left the company.
It’s possible that the idea of going on a date while wearing a virtual reality headset doesn’t appeal to Gen Z very much.
Tinder is still highly popular; but, it is reasonable to assume that at some point in the future, it will begin to lose some of its momentum, just as other successful applications ultimately do.
It has been there for a decade, and as the internet increasingly becomes the realm of younger people who have different expectations and standards, it is logical to assume that younger people would turn elsewhere to build relationships with one another.
As for those of us who are old enough to remember when Tinder was first released, we’ll just have to go to the corner and sulk about how old we are now. We won’t bother you.