Super App: Is it truly the Future or just a Fad?
Gone are the days when we were using different apps for different purposes. These days, we are hearing and seeing more Super-apps - the app that lets users perform everything - right from chatting to commerce. Social engagement and commerce will go hand-in-hand from now on.
GoodFirms’ Leaders Roundtable is a series of podcast discussions that the company will have with the experts and market leaders across the globe to support the startups with the right insights.
Here in this Leaders Roundtable Podcast series, GoodFirms initiated a discussion with the expert at Trigma, a successfully running IT Company to better understand Super Apps, the market, the challenges, and the future growth of Super Apps.
Trigma, established in the year 2008 is an IT company that has faced every hardship head-on and bagged many prestigious and international clients for its portfolio.
For this campaign, we spoke with Mr. Rochak Chauhan, who works as a project manager for Trigma.
The Podcast discussion focuses on these key areas:
- Super apps and their impact on the digital ecosystem
- Complexities involved in developing such large-scale apps
- Concern about data security amidst super-app development
- Reason for abandoning apps like Paytm, Jio, etc.
- Bringing and retaining customers into this new concept
Through this free podcast session, you will:
Finally discover why super apps are in-demand
Understand why apps like Paytm, and Jio didn't gain much popularity
Discover an easy way to analyze complexities and overcome roadblocks while developing super apps.
Given that the idea of a super app is fairly new, can you please explain to our readers what exactly is a super app and the features it provides to consumers?
Although the concept of a super app has been around for almost a decade, it is only now that many companies are capitalizing on it and developing their own.
Super app can be explained as an all-in-one mobile or web application that caters to different services across various domains.
The wave of super apps originated in China with WeChat becoming the first successful super app in the market. Originally started as a messaging platform, WeChat has gradually incorporated systems like e-commerce, payment, delivery, etc. onto its platform.
Since Wechat, there have been many super apps coming on the market, Why do you think tech CEOs are prioritizing the development of super apps over others?
There appears to be a rush in the market for super apps to be developed. Why not, too? When the development of a single application can open up so many revenue streams for companies, every tech CEO must use it to their advantage.
One of the biggest reasons for developing a super app is the convenience it provides. These are the categories of mobile apps that fulfill almost every need of the consumer.
There are lots of benefits of developing a super app. Some of them include:
- Diversify revenue system: With Super apps providing many features under one roof, it becomes easy for entrepreneurs to monetize each offering and drive sales.
- Customer lifetime value: Why would customers go anywhere else when super apps can meet all of their needs in one app!!
- The rapid growth of audiences: Given the number of features available, the super app has a wide range of applications and an even larger audience to serve
- Cost-cutting in app development: Tech companies do not have to spend time and money developing different apps for users while a super app can do it all
- Convenience and consolidation: Super apps offer convenience and simplicity to their users and remove the hassle of keeping unnecessary apps on their devices
- Security and sign-in: The use of super apps removes the hassle of remembering different passwords making it more user-friendly.
Are super apps the best idea for the digital ecosystem?
We believe the concept of a super app is enough to shake up the entire digital ecosystem.
With the introduction of super apps, gone are the days when consumers have to juggle between apps to get things done. It enables consumers to seamlessly integrate various facets of their lives and live on one platform - quite literally.
Super apps surely act as a superpower in the mobile app development kingdom. But with great power comes great responsibility.
So, What is the complexity involved in developing a super app that delivers a seamless experience to an array of consumers?
The development of super apps involves accumulating a lot of user information onto a single database which poses a major concern regarding data security. Because a user's sensitive data, such as transaction histories, contacts, and payment card details, is saved on a single server, maintaining its security is a major challenge.
Also, we must remember that a super app is an app that’s loaded with every functionality we can think about, and developing all those from scratch requires proper planning and execution.
Another very important point to keep in mind is the complexity that comes with creating an app that cares for its consumers and provides data according to their liking. Because the app will be handling multiple functions at once, it will require a highly intelligent AI to handle the backend while also tracking the customer's buying journey, interests, buying frequency, and habits, among other things.
To sum it up, the super app provides users with an all-in-one experience, but developing such a sizable app is no joke.
But, Is this new All-in-One Experience going to keep Data in All-in-One Safe Hands? What are the chances of data theft or manipulative consumer decisions?
Data is increasingly becoming a prized asset for businesses all over the world, with a value comparable to that of rare gemstones.
In today’s age, we as consumers are consciously or subconsciously agreeing to send all our data to a centralized system that eventually holds the power to influence or manipulate our buying decisions.
Also, how a geographical region deals with its citizen’s data differs from place to place.
For example, places like China, where successful super apps like Line, Wechat, AliPay, and others were born, are more open to sharing personal information, whereas Europe, the United States, and Canada are more protective of personal data.
You just mentioned that Chinese-based apps like Line, Wechat, and AliPay have been heavily guarding the super app industry. However, many companies, such as Paytm and Jio, have been attempting to enter this market but have been unsuccessful. What are your thoughts on this?
I believe that one of the primary reasons for the super app segment's success is that apps like Line and WeChat started slow.
They began by offering an instant messaging feature on their app, then gradually added features such as E-commerce, payment solutions, and other services to their platforms. The applications could become a part of people's lives using this method, and they quickly gained 1.27 billion users.
Also, while we are on the topic of super apps, I must talk about the latest invader in the market that is Tata Neu.
According to my views, it has a 50-50 chance of reaching the masses because considering the Indian market, still a majority of its population resides in the rural areas of the country, and educating them about the super app is a difficult task.
Super app delivers an all-in-one app experience but are people going to limit their use of different apps and replace it with this one-stop solution. What are your views on this?
For a consumer, new concepts don’t matter unless and until it satisfies their needs and the same applies to the concept of Super apps as well.
Today's tech-savvy audience will carefully compare and analyze each feature of both apps before making a decision. It would be simple to limit their use of different apps and stick to a ONE-STOP-SHOP if they could easily book movie tickets, make payments, shop, and do a lot more via a single app.
With mobile phone users increasing rapidly, the number of app downloads is increasing and is estimated to reach $613 billion by 2025. With all the hype around super apps, are they changing the mobile app development economics?
Super apps provide tremendous monetary incentives to developers, and the user experience is frequently improved as a result of their convenience. They are apps that simplify tasks such as processing payments, organizing social media, paying rent, purchasing train tickets, and so on.
Also, as the competition among mobile app developers continues to increase, we'll likely see even more single-purpose apps. Super apps might grow to become capable enough to replace entire operating systems in the future. But it is still too early to determine whether super apps will change the mobile app development economics or not.
Moving onto the last question, how difficult is it for companies to attract customers from different platforms onto a fairly new and inexperienced platform?
I believe that Generation Z(the 1990s) and further are the early adopters of this new and inexperienced platform, because of their explorer tendency, and high-paying capabilities.
I feel the only thing super app technopreneurs need to do is market their launches under new, innovative, and convenient platforms and it would attract people like sugar attracts ants.
To know more about the discussion, listen to the podcast.
As internet and smartphone usage continues to rise, the demand for super apps will only increase. However, enterprises must examine and closely analyze the market before taking the plunge. From selecting the right mobile app development company to battling various complexities during the development cycle, the path toward super-app development is a bit challenging. With the right guidance and well structured strategies, building a Super App is just easy.
About GoodFirms Leaders Roundtable
Leaders Roundtable is a campaign undertaken to discuss the pain points of budding entrepreneurs. In this campaign, we talk with representatives of successful IT companies and take their views regarding topics in technology, business strategies, and more.
To get your company enrolled in our campaign, please drop a mail at [email protected]
GoodFirms is a globally renowned and trusted B2B reviews platform where businesses can discover, and compare software & services as well as select the technology that can ... continue reading