We use many mobile apps every day. Apps are changing our everyday lives. Today’s generation is switching from app to app, depending on what they need to do, while big platforms are working on “super apps.”
The average user has 80 apps downloaded on their phone. The average smartphone owner uses 9-10 apps per day and 30 per month. 85% of time spent on smartphones is spent using apps. There were 255 billion app downloads worldwide in 2022.
With this outlook, some mentioned that the future of mobile applications has a name: Superapps.
But, are we ready for Superapps?
Superapps can be described as multifunctional platforms that provide a wide array of services, ranging from communication and social networking to e-commerce, entertainment, finance, transportation, and more, consolidating various functions into one cohesive ecosystem, allowing users to access numerous services seamlessly without switching between multiple apps.
In this new era where data means power, there is a vast sum of data about every user in the virtual world. And those who possess the big data regarding our financial status, travels, shopping habits, and many other aspects of life will have a competitive advantage.
This model emerged in Asian countries and its popularity has already spread to Latin America, while in Europe there are still no major projects underway along these lines, although many financial institutions are beginning to combine different services in their online banking applications.
Prominent examples of Superapps are:
WeChat: It could be pointed out as the queen of the Superapps. Born in China as a messaging application, it evolved to the point that it allows you to pay bills, buy different items such as movie tickets or even a house, apply for a mortgage, send and receive money, make phone and video calls, book hotels, listen to music, read news, play video games…
AliPay: Launched as the payment application of the Chinese e-commerce giant Alibaba. It progressively incorporated new functionalities, including hotel and restaurant reservations, paying bills, requesting a cab or booking a shared bicycle.
Rappi: This Colombian app was originally a platform for ordering food at home. Now it allows you to make transfers, order a cab, book a flight, chat with your contacts or play online games.
We are already seeing how the big players are getting stronger and expanding in different business areas by acquiring startups. This is a natural process that indicates that we are on the road to super apps. The challenges, however, remain enormous.
For some, this is the real issue with superapps: most solve a problem for the company, not the customer. What are your thoughts on this?
Source: FT, Deloitte, App Annie.
