In the age of digitization and the internet, companies are empowering their brand value with hyper-targeting and hyper-personalization by building a super app.
The brands foster everything to the consumer within their reach of fingertips. This has turned down the traditional brick-and-mortar concept and allowed businesses to establish their online presence. Nearly all consumer-centric services give a sustainable purpose to the existing industry that solves all of the consumer’s purposes and drives the economy of the market. It brings a superpower to the current market and derives a new term of ‘super apps’.
However, despite the scope and existence of the super app market, it’s sometimes crucial for the brands to fit into the market expectations. Let’s begin with the understanding of the concept of super apps and how they help large businesses to leverage their revenue outcomes. But first, start with the definition of super apps.
What are Super Apps?
The term ‘Super Apps’ is a single umbrella that serves tons of services and products within the virtual platforms like paying bills, apparel, ride-hailing, food delivery, ticket booking, social media, subscribing to promos, etc., to consumers. It reduces the need to have multiple apps for different services.
Super apps are hailing the marketplace due to their ease of delivering fast services and products at convenience. In the niche segment, WeChat and Gojek are the global super apps service providers that recently turned into a multi-billion dollar market. Talking about India; it always has been seen as a new frontier in the super app marketplace. The e-commerce industry faces a splendid growth of 800% in the last year, this outbreaks how super apps are a real game changers.
Differences between; Super App and Mega App
The term ‘super’ is sometimes synonymous with mega and Giga. The mega apps are very relatable to the super apps concept and can be interchangeable. Mega app platforms accumulate a range of specialized services like e-commerce, finance, transportation, food delivery, grocery app, etc.
Big companies are more on expanding their services to different verticals to build an entire ecosystem so that the customer does not go anywhere. For example, Jio is the latest player in the segment of offering a ton of services like e-medicine, supermarkets, cloud storage, and e-commerce in its ecosystem. Respective of the other services, Jio recently immigrated with the OTT platform for streaming live videos.
Why does the business wish to enter into the Super App ecosystem?
We all are always ready to have a little extra beyond what we have now. To satisfy big hunger consumers are now looking for a superfast medium where they can easily access a pool of services and deal with just a single tap. Such a vital platform for consumers is Super Apps. From here, the concept of super apps comes into the picture.
Businesses already have their existence in the Lion’s share or major share of the industry marketplace. The big giants want to flatten the existing streamlined process and so integrate multiple services with a strong presence, more immersive, and engaging foot in the e-commerce industry. Hence, they wish to enter into the Super apps ecosystem as a real trait.
Super apps have so much buzz in the most extravagant industries like e-commerce, entertainment, trading, and transportation. The rise of these apps is changing the way of business. The super app model is born and rising in Asia. WeChat from China is one of the most popular apps that is expanding its outreach with large services into one channel.
The market is expected to reach $1.5 T by 2025, with exponential growth by the segregation of different industries like e-commerce, healthcare, fintech, media, entertainment, consulting, automobile, pharmacy, travel, and much more; planning to create a massive user base into the super apps industry.
The super apps have fostered online market transactions by up to 40-45%. The market has been inviting new entrants into the lucrative industry to maintain the unbeaten stickiness. The super app concept is the everything app, which gives empowerment to businesses, investors, and stakeholders, to firmly embedded their services under the strong platform.
Big companies play a major role in retrieving the chunk of opportunities in this marketplace. Reliance Industries (RIL), Tata Group, Amazon, etc. to expand their digital ecosystem to superlative with third-party integration, hence so forth no one could bear to enter into the marketplace. Later, banking platforms like HDFC, PayTM, Google Pay, and PhonePe emerged as a junction with the service platforms to cater to goodwill and revenues. Develop your feature-packed payment transfer app with our experienced developers.
Super apps aggregate a variety of app services into one. That is the USP of the super app, it eliminates the purpose to keep different apps on the mobile device. Super apps help to earn from the transactions and offer a good monetization value to the businesses; giving reasons to the industries to adopt the super apps ecosystem.
Popular Examples of Most Successful Super Apps in the App Market 2022
The revolution of new technologies and easy transition of the existing trends with them helps many businesses to scale up their marketing in the tough competitiveness. However in the traditional market, similar products and services are already available but the integration of similar services into one, not only saves the user time and cost but also plays a big role in this lucrative sector.
Here we quickly look at the top use cases where super apps changed the scenario of existing markets and ROI. The top applications are geared up their brand’s identity and revenue with the integration of multiple services with the third party and consumers. Let’s briefly overview the best examples of super apps.
iPhone Rating 4.1 & Android Rating 4.7
The platform is a super app bundled with more than 2500+ services starting from ride-hailing to payments, situated in Jakarta, Indonesia. It has merged with Tokopedia, the e-commerce platform, and now Gojek is delivering hyper-local services including transport, logistics, paying bills, etc.
Solving the everyday problem of the users increases the company’s revenue and gives a chance for investment, and runs on Gojek’s business model. Within the span of a decade, Gojek allows its users to transact within their wallets and easily manage their spending.
iPhone Rating 2.7 & Android Rating 3.7
WeChat has become the universe of super apps comprising services from messaging to payments? The revolution of significant applications in the mobile industry started in the year 2010 in China. This has become the leader in different service-based business models in the Chinese market. From the habit to get instant dispatch of messages on software platforms rather than emails, WeChat has become really a powerful use case for super apps.
It integrates with the messaging app, payment app, and social media. WeChat also makes money by offering services like loans to mutual funds, gaming, public accounts for businesses, insurance, moments for social feeds, and advertising. Helps small and large businesses to target their local customers. Customers transact their funds using WeChat payments for free and users can withdraw the sum from their wallets with a small charge of 0.01%.
As per the estimate by Fintech the market of e-commerce is growing significantly with a 72% population rate to be reached by 2025; has a big potential in serving heavily loaded app services to consumers.
iPhone Rating 4.7 & Android Rating 4.6
We all know Paytm for its prepaid mobile UPI, and television DTH recharge service. The big brands associated with them offer great deals and promotional discounts not only engage and fulfill users’ desires but also cater to a win-win situation for app developers too.
The Paytm mobile application is integrated with more than 200 services including dominos for pizza, and burger, gaming like a rummy circle, poker, Paytm health allow to order medicine, mediclaim calculator, insurance for vehicles and health, fast ticket booking, buy fast, trading in stocks, open Demat and much more services.
iPhone Rating 4.6 & Android Rating 4.2
Recently acquired with Justdial, Myjio has pre-planned its branding concept and fuelled it up with the super app. The app is bundled with a number of mini- concentrating on consumer desires and consumption. Users get a smashed pool of services and products in its totally revamp platform with exclusive services like payments, OTT audio/video, gaming, news, online pharmacy, and much more. The brand has its own in-house technology and services powered by a third party to make a wholesome consumer sense platform.
iPhone Rating 3.6 & Android Rating 3.5
Taobao is another Chinese model which is a part of the Alibaba group, it earns money with its money-added services apps like an e-commerce platform, Tmalls, and Alipay for payment services.
6. Tata Neu
iPhone Rating 3.7 & Android Rating 4.1
The byproduct of the Indian Tata brand, Tata Neu is a super app from April 2022 by offering various services in multiple sectors beauty, hotel, fashion, grocery, fitness, entertainment, and others. It allows customers to book hotels via Taj, buy tickets with Air Asia, luxury beauty products from Tata Cliq, buy subscriptions via Tata Sky, and groceries with BigBasket, to foster growth in the digital space.
Tata Neu also helps to coagulate with the non-famous brands to thrive the Indian consumer with the super app concept.
Transforming your application into the Super Apps model gives you a chance to get more expansion and visibility of your brand services. It eliminates the usage of multiple complex apps in the smartphone and gives a sorted and integrated app platform that serves multiple services single-handedly.
With this blog, we have discussed good reasons to integrate your standalone app with the super app features and diversify your brand impact and growth of flexible revenue streams. You can furnish your business by having one super app for your potential customers. Next what you can do is, you could ask our mobile app developer to assist you in the journey of super apps.