Are Super Apps the Next Big Thing?
In the last decade fintech firms began introducing single, easy-to-use digital financial solutions. Consumers embraced them, prompting the move toward expanding their products’ capabilities. Super Apps—integrated digital ecosystems with multiple capabilities—are prominent in China (WeChat leads the way) and Microsoft is making inroads here in the USA, according to a recent Forbes article.
What is Driving the Conversation?
More speed, an optimized user experience, tighter integration, and lower cost are driving demand. A recent Gartner report likens Super Apps to a Swiss army knife—delivering multiple benefits that appeal especially to younger consumers who’ve used smart phones most of their lives. The report expects that by 2027, more than 50% of the global population will use multiple Super Apps daily.
Questions DCA Members are Asking:
- What is the definition of a Super App?
- Is there a demand for Super Apps in the U.S.? Why or why not?
- Why are Super Apps big in Asia but not here?
- Are Super Apps just for consumers, or do they / will they encompass enterprise applications, i.e. workflow and collaboration?
- What role are Super Apps playing in the digital commerce space?
Related DCA Resource:
Commerce Code Episode 130: Did Mobile Banking Boom in the Pandemic?