The era of Digital behemoths has arrived!
3 min read

The era of Digital behemoths has arrived!

A new type of digital behemoths are rising from Asia. A one-stop Super-platform for most of your demands. One app, one sign-in, one user experience!
The era of  Digital behemoths has arrived!

If you're accessing this in the UK, Europe, or the United States, chances are you've never heard of a Super-app, let alone what they stand for.

If you reside in Asia, you likely spend most of your time on one.

Well, what are they?

If there is a one-stop platform for most of your demands, instead of jumping between many distinct mobile apps?

That is a super app, to say the least.

The idea is to provide critical services that customers desire in the first place, which is where things become complicated.

Most markets lack the size, scope, and homogeneity that enabled WeChat, Alibaba, and Paytm to thrive in China and India.

More Users in these nations use budget cellphones with limited capacity precisely because of their lower per capita income. This makes having just one app rather than tens of them easier to manage.

Gojek, WeChat, Alibaba, Paytm, Grab, and TokoPedia are major players in the Asian region.

Meanwhile, the emergence of local super applications has yet to be witnessed in the West!

Some analysts even believe such a situation will never be conceivable in European or North American markets.

Indeed, the precise super app situations that we are witnessing now in the East are difficult to conceive owing to the distinct legal framework and commercial dynamics.

Why are certain nations more receptive to super-apps than others?

When a substantial portion of a nation's population uses smartphones first rather than computers, and the ecosystem of applications tailored to local requirements has not grown, the country or region becomes extremely Super app-ready.

Europe and America have the legacy infrastructure to cater to local requirements and a high per capita income, allowing everyone to access laptops and computers.
While most emerging nations, particularly in Asia, lack those, businesses are out-innovating others to overcome these limitations.

Super-apps were originally developed in China, where a few players had a deep understanding of specialized client demands and thrived in a favorable environment. WeChat, the mega app, has surpassed 1 billion monthly active users. In addition,  AliPay and its foreign e-wallet partners have served 1.2 billion customers globally.

Trend

Worldwide, a trend toward super applications is also being driven by a shift in customer tastes.

They want only one app for ordering food, ride-sharing, and making payments, rather than several applications.


Consumers may not want super apps precisely, but they desire the ease and simplicity that super apps provide.

Indeed,  research and experience indicate that, after over a decade of service fragmentation and un-bundling, customers are beginning to revert to re-bundling.

Advantages

  • Ease of use and simplicity.
  • Greater revenue realization owing to the consolidation of services into one location.
  • Cross-selling is the most apparent commercial benefit of the super applications strategy. As a result, the firm may provide various services to the customer through a single app.
  • Go-Jek and Grab also provide a variety of additional services, such as food delivery and medical counseling, and assisting customers in selecting and purchasing financial goods. They've come up with creative tactics (such as utilizing their ride-share drivers as mobile bank tellers) in areas where most of the population is unbanked and has access to basic banking infrastructure, such as Indonesia, a crucial battleground for the pair.

Concerns

Due to the way these apps manifest themselves in as many aspects of daily life as possible.

They Can obtain a decent sense of when, where, how, and why users spend their money by knowing a person's present location and when they normally have supper, all in one app, and tapping into the app's data on payments and money transfers, before utilizing this to hyper-accurately target their audience and using artificial intelligence to create strikingly Accurate Profiles.

This would be a problem for many privacy-conscious customers and might raise even more anxiety.