How Super Apps Affect Traditional Business Models: A Comprehensive Overview

Did you hear anything about a “super app”? It became a buzzword in 2023; however, a super app concept is not new. Anyway, both businesses and end-users appreciate it for convenience, efficiency, and broad opportunities for monetization.

Intrigued? Read on to explore how super apps can affect traditional business models and grow your revenue exponentially.

Meet a “super app”: definition, features & origins

Super app is a sort of one-stop shop or an all-in-one mobile app that offers a wide range of features and services in one place. The concept was created to cover various end-user needs swiftly and efficiently without the need to jungle with dozens of applications. Following Polaris Market Research, the super apps market size was estimated at USD 82.28 billion in 2023 and is projected to reach a whopping USD 734.67 billion by 2032. 

Industries: Super apps are top-rated in Asia, especially in banking & finance, retail, and food delivery domains. 

The most famous super apps: Revolut, WeChat, Alipay

Example: Let’s consider WeChat, the main communication channel in China. This application allows users to unify messenger, payment methods, and video conferencing under one roof. It’s like WhatsApp, Apple Pay, and Zoom in one bottle. 

Why end-users adore super apps: top benefits

• Convenience & Time-Efficiency

Super apps allow the collection of various features under one roof and streamline the user experience. In other words, people don’t need to download multiple apps to perform different actions. They can watch movies and pay for purchases with one app. To achieve this, businesses should ensure a robust cloud computing base and attentive Big Data processing. However, a holistic client experience deserves it. 

• Enhanced Interactions

When launching super apps, businesses try to make communication with the end-user seamless and effective. Everything in the mobile application is tailored to each user’s preferences. Super apps drive a personalized approach and multi-domain collaboration which helps companies-vendors achieve a competitive advantage with just one product.

Super apps: advantages for businesses 

• Broader Audience

One super app can become a middle ground for people of various ages and interests, and it offers a fully customized approach. This way, businesses can engage more clients and increase Client Lifetime Value by predicting demand and always providing extra value.  

• Expanded Opportunities for Monetization

A super app functionality is unlimited. It helps companies combine uncombinable things and enhance functionality with a continuous application development process. This way, businesses can transform and scale up their business models easily based on accurate data on user behavior. 

• Reduced Costs

No more extra spending on Marketing and Sales. A super app is a powerful marketing channel that allows the launch of effective real-time campaigns and impressive results. 

How do super apps affect business models?

Super apps are a significant opportunity for businesses since they simplify the service provision process and allow them to diversify functionality easily. It fosters a culture of collaboration between companies, helping each involved party get a competitive advantage and reach a target audience. Today, the telecom providers are a central link of such a multi-domain collaboration, but super app vendors can replace them in the future.

Anyway, companies haven’t reached the relevant level of maturity as of 2024 to launch super apps en masse. Most of them already have several mobile applications powered by technologies like AI (Artificial Intelligence) and AR/VR. New mobile or cross-platform development means new investment, which is tricky in conditions of global crisis. 

Conclusion

Super apps are a simple and obvious approach capable of making end-users happy. It’s an excellent best practice to borrow from Asian countries. To design a super app, you need an experienced and mature team of software developers, like Innovation Feel. If you have a bold idea in mind and want to turn it into reality? Involve us in your mobile development! Let’s create a super app that caters to your business needs efficiently and cost-effectively!