In breaking down the barriers between user interactions and transactions, super-apps meld experiences previously treated as distinct. In this three-part series, we look at the impact these apps and their development will have on Western markets and consumers.
${cta-text}Super apps redefine expectations for a mobile-first experience
Today’s smartphones consolidate countless products, services, and ways of connecting into a single device. At any moment, we have the power to hail a ride, order food delivery, invest, or share moments with friends. Convenience has become a paramount metric of the digital age. Every industry is vying to offer a more seamless, integrated experience for their customers, with faster load times, easier account creation, and cleaner user interfaces.
So what’s next in the mobile-first experience? The next evolution may be a single, one-stop-shop experience—the “super-app” phenomenon that has emerged and scaled across Asia, Latin America, and Africa. As more transactions become digitized, co-locating new functionality into a single app can help minimize the inconvenience and inertia customers experience when juggling a dozen different apps.
While the term “super-app” lacks a consistent definition, we’ve identified a set of four principles that help illustrate what makes an app “super”:
- Multi-service
- Single app for all services
- Consistent transacting experience
- Data sharing across services
In the below series, learn more about the potential impact of super-apps on markets and consumers in the United States, United Kingdom, Europe, Canada, and Australia, as well as the opportunities for small businesses and financial service providers.
Where are super-apps headed in the West?
Based on our assessment of international super-apps and the current landscape of Western markets, we contend that eight trends are likely to play out in the next three to five years:
Early super-apps will emerge in Western countries by 2025.
Those successful in pursuing super-apps strategies are already major platform players.
Social media, rideshare, and payment companies are more likely to succeed in developing successful super-apps than incumbent banking or insurance firms.
Western markets will not see a single, dominant super-app like WeChat in the near term.
Insights and advice will be the cornerstone of Western super-apps.
Western super-apps will likely be transparent in how they collect and use customer data.
Cryptocurrency could play a potential key role in driving super-app growth.
The B2B space is likely to see super-apps soon.
