Bird? Plane? It’s Super App

If you live in Asia, you probably spend most of your ‘screen time’ using a super app. So, what exactly are super apps and why are they so revolutionary?

Super apps essentially serve as a single portal to a wide range of virtual products and services. The most sophisticated apps – such as WeChat and Alipay in China – bundle together online messaging (similar to WhatsApp), social media (similar to Facebook), marketplaces (like eBay) and services (like Uber). One app, one sign-in, one user experience – for virtually any product or service a customer may want or need….

The West too is starting to move in a similar direction. In part, the shift towards more all-encompassing apps is being driven by competition. Companies in almost every industry that do not want to become disintermediated by a super app are thinking about how they can become the West’s answer to WeChat and Alipay.

An evolution in consumer preferences is also driving the shift towards super apps in the West. Indeed, our research and experience suggest that – after nearly a decade of fragmentation and unbundling of services in their lives – consumers are starting to revert towards rebundling….

Our view suggests that, at least for the next decade or so, the trend among consumers and businesses is towards super apps. The big question is whether banks understand how they will deliver value in a world dominated by super apps, and whether they have the ability to move quickly enough to respond before super apps become a super disruption.

From ‘Super App or Super Disruption?’, KPMG

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