A look at super-apps in the United States
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.
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.
Western super-apps
Forecasting disruption from a super trend
Super-apps are redefining digital ecosystems globally. These all-in-one solutions integrate services typically handled across over a dozen discrete apps under a single umbrella—digital wallets, ride-hailing, hotel booking, loan payments, and countless other features can all be accessed from one app. Originating in China, the model hasn’t gained traction in more Western markets like the United States, Canada, Europe, and Australia. Yet super-apps could be the next frontier for digital engagement. Explore the impact super-apps could have on Western markets and how organizations can prepare for those shifts.
Hidden in plain sight
Serving small businesses through super-apps
Super apps have grown substantially throughout Asia, Central America, and Africa as developers addressed gaps in services available—gaps that don’t exist in Western markets, where behaviors are more engrained and customers are accustomed to single-app solutions. That may be changing as small businesses look for insights, better platforms, and more powerful workspaces while delivering a frictionless, convenient customer experience. Could super-apps offer the solution?
Financial services super-apps
Growth and transformation through engagement
Over the past decade, innovations in the banking and payments space have brought disruption to traditional models and challenged the core competitive advantages of incumbents. Financial services previously handled by banks are now being delivered by technology firms aligned to popular nonfinancial channels like social, commerce, or segment platforms and accounting software. Financial institutions are taking note, and they are responding by rolling their consumer product lines into one app to be a one-stop shop for all their consumers’ needs. Will “super-apps” become the next big step for banking?
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:
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