Introduction

In an increasingly digital world, where convenience and connectivity reign supreme, the rise of SUPERAPPs has transformed the way we live, work, and play. These all-in-one platforms have become an integral part of our daily lives, offering a myriad of services and solutions at our fingertips. From ride-hailing to food delivery, financial services to e-commerce, they have revolutionized digital experiences like never before. In this report, we delve into the fascinating phenomenon of SUPERAPPs, exploring their global impact and unveiling Twimbit’s comprehensive benchmark of the top such apps across the globe.

Understanding SUPERAPPs

Imagine having the power to order your groceries, hail a ride, pay your bills, and book a doctor’s appointment all from a single app. SUPERAPPs are the embodiment of this convenience.

How do these apps manage to seamlessly integrate a myriad of services under one roof?

This magic happens through seamless integration, personalization, and constant ecosystem expansion. Behind this user-friendly facade, a robust infrastructure powers these digital powerhouses, ensuring security and efficiency.

• Key drivers for enterprises to build a SUPERAPP

In today’s digital landscape, the decision to embark on the SUPERAPP journey is far from arbitrary. Enterprises worldwide are increasingly recognizing the immense potential of constructing their own SUPERAPPs, and for good reason.

1. Cost efficiency: One crucial driver is cost reduction for end customers. By consolidating multiple services within one platform, often through strategic partnerships, companies can slash customer acquisition expenses and streamline product development costs.
2. Diverse revenue streams: SUPERAPPs enable diversification beyond core services, fostering fee-based income models that boost financial performance and enhance user engagement.
3. Hyper-personalization: These apps also empower businesses to deliver hyper-personalized experiences. Leveraging user data insights, they can tailor products to meet customer needs effectively.
4. Partner ecosystems: This model facilitates the creation of dynamic partner ecosystems. Onboarding new partners opens doors to growth opportunities and expanded customer reach.

• Challenges for SUPERAPPs

While such apps offer a world of possibilities, they are not without their challenges. These are some of the hurdles that they face on their path to success:

• Market overview and growth opportunities

The SUPERAPP phenomenon is not confined to a single region; it’s a global phenomenon with immense growth potential.

Twimbit’s 4-point framework to evaluate SUPERAPPs

• Research methodology

• Framework

Benchmarking top SUPERAPPs across the globe

Lazada, Grab, Gojek, Paytm and Shopee are the top 5 SUPERAPPs across the globe on the Twimbit benchmark.

• Number of business offerings

These apps typically offer a wide range of business offerings and services to their users. For our benchmark we evaluated the apps on the provision of these services:

1. Investments/Cryptocurrency
2. Neobanking/payments
3. E-wallet
4. Transportation/Ride-hailing
5. Express delivery
6. Ecommerce
7. Food/grocery delivery/utilities
8. Travel booking
9. Healthcare services/Insurance
10. Livestreaming shows/music/entertainment
11. Gaming/E-books
12. Social & Messaging

Alipay, WeChat and Line are the top apps to have a score of 5/5 as they offer each of these services to their customers.

• Partnerships

SUPERAPPs are constantly evolving and expanding their ecosystems. They forge partnerships and collaborations to add new services and functionalities. This agility enables them to stay relevant and capture emerging market opportunities.

While most of the apps have a score of 5/5 as they have merchant partnerships and brand deals; Alipay and Paytm have huge merchant networks along with brand partnerships for promotions. Alipay has a merchant network of almost 80 million merchants while Paytm has 34 million merchants.

• Customer support

Customer support is a critical aspect of ensuring a positive user experience. Here are the parameters that we evaluated in terms of customer support:

1. Self-service FAQ section
2. Chatbot AI to assist with queries
3. Live Messaging system with support agent
4. Support helpline via call
5. Multilingual capabilities
6. 24/7 Help system
7. Support response under 24h

Shopee and Lazada are the top apps to have a score of 5/5 as they offer each of these customer support features to their customers.

• User rewards

User rewards play a significant role in retaining and engaging users. Here are the user rewards that we evaluated for our benchmarking:

1. Vouchers/Coupons provided
2. In-app point shop with redeemable rewards
3. Subscription system
4. Cashback/Discounts on purchases

Grab, Gojek, Lazada and Paytm are the top apps to have a score of 5/5 as they offer each of these user rewards to their customers.

User adoption for the SUPERAPPs

User adoption is pivotal for the success of SUPERAPPs, with strategies like simplified onboarding, personalized experiences, incentives, and excellent customer support playing crucial roles. Engaging users, offering value, and continuously refining the app based on feedback are key to building a loyal and active user base in the competitive landscape of SUPERAPPs. Here is the user adoption for the 16 apps that are part of our study:

Banking in the SUPERAPP era

In the era of SUPERAPPs, traditional banks stand at a pivotal juncture, compelled to embrace this transformative paradigm to stay relevant in the digital age. The SUPERAPP model, epitomized by seamless, all-encompassing digital experiences, has redefined consumer expectations.

Today’s customers seek more than just banking services; they yearn for convenience, personalization, and accessibility across various aspects of their lives. To thrive, banks must evolve to meet these demands, offering not only financial solutions but also a diverse array of services within a unified digital ecosystem. This decision presents banks with a crucial choice – whether to construct their own such app from scratch or collaborate with existing platforms. While building grants control and customization, partnering leverages established user bases and ecosystems.

Regardless of the path chosen, a successful SUPERAPP hinges on user-centric design, personalization, security, and strategic partnerships. Banks that master this balance between financial expertise and technological innovation are poised to reshape the future of banking, providing customers with unparalleled digital experiences.

Download our benchmarking report on The SUPERAPP Phenomenon-Transforming digital experiences above.