The Gold Rush for India's SuperApp
In an age defined by hyper-targeting, hyper-personalisation and multi-platform consumers, the power of one is increasingly the superpower that everyone is after. And that power can come from a SuperApp.
We need to explore companies into this
In an age defined by hyper-targeting, hyper-personalisation and multi-platform consumers, the power of one is increasingly the superpower that everyone is after. And that power can come from a SuperApp.
We need to explore companies into this
1/n
What is a SuperApp? It is a one-stop virtual platform that offers the convenience of diverse products and services such as marketplaces, ride hailing, food delivery, financial services, online messaging, social media, utilities and others under one umbrella.
What is a SuperApp? It is a one-stop virtual platform that offers the convenience of diverse products and services such as marketplaces, ride hailing, food delivery, financial services, online messaging, social media, utilities and others under one umbrella.
2/n
The best exponents of a SuperApp are Chinese tech conglomerate Tencent’s WeChat and Alibaba’s Alipay. Reason: The convenience of using a single app for any product or service a customer may need on a daily basis.
The best exponents of a SuperApp are Chinese tech conglomerate Tencent’s WeChat and Alibaba’s Alipay. Reason: The convenience of using a single app for any product or service a customer may need on a daily basis.
3/n
Another one is Indonesia’s Go-Jek that started off as a two-wheeler ride-hailing service. Today, Go-Jek, which has expanded to Vietnam and Singapore, is used for ordering food, digital payments, shopping, hyper-local delivery, getting a massage and two dozen other services.
Another one is Indonesia’s Go-Jek that started off as a two-wheeler ride-hailing service. Today, Go-Jek, which has expanded to Vietnam and Singapore, is used for ordering food, digital payments, shopping, hyper-local delivery, getting a massage and two dozen other services.
4/n
Mukesh Ambani’s RIL has taken rapid strides in the past year-and-a-half towards consolidating services and products under its Jio umbrella — e-commerce (grocery, shopping, pharmacy, furniture), OTT, payments, ticket bookings and Cloud storage services.
Mukesh Ambani’s RIL has taken rapid strides in the past year-and-a-half towards consolidating services and products under its Jio umbrella — e-commerce (grocery, shopping, pharmacy, furniture), OTT, payments, ticket bookings and Cloud storage services.
5/n
It built its own e-commerce platform JioMart — a joint venture between Reliance Retail and RIL’s digital services arm Jio Platforms. JioMart delivers grocery and daily essentials through a scheduled delivery model from nearby stores.
In the September quarter of FY22,
It built its own e-commerce platform JioMart — a joint venture between Reliance Retail and RIL’s digital services arm Jio Platforms. JioMart delivers grocery and daily essentials through a scheduled delivery model from nearby stores.
In the September quarter of FY22,
6/n
It acquired online grocery store Milkbasket, local search engine platform Justdial, home-styling company Portico and a controlling stake in Ritika, the holding company of fashion house Ritu Kumar. It also entered into a franchise agreement with 7-Eleven Inc.
It acquired online grocery store Milkbasket, local search engine platform Justdial, home-styling company Portico and a controlling stake in Ritika, the holding company of fashion house Ritu Kumar. It also entered into a franchise agreement with 7-Eleven Inc.
7/n
for the launch of its convenience stores in India. In FY21, Reliance Retail acquired online pharmacy store Netmeds and furniture retailer Urban Ladder, and in January 2022 bought a 25.8% stake in quick commerce player Dunzo for $200 million (around ₹1,488 crore).
for the launch of its convenience stores in India. In FY21, Reliance Retail acquired online pharmacy store Netmeds and furniture retailer Urban Ladder, and in January 2022 bought a 25.8% stake in quick commerce player Dunzo for $200 million (around ₹1,488 crore).
8/n
Keeping RIL company is the salt to software major, the Tata group, one of India’s oldest conglomerates. It is also quietly working towards its ambition of building a SuperApp — Tata Neu
It is testing out Tata Neu first among its employees.
Keeping RIL company is the salt to software major, the Tata group, one of India’s oldest conglomerates. It is also quietly working towards its ambition of building a SuperApp — Tata Neu
It is testing out Tata Neu first among its employees.
9/n
In Sept 2021, Adani Ent set up a wholly-owned subsidiary, Adani Digital Labs, with the object of transforming consumer businesses to digital-first businesses by creating an omnichannel, integrated platform enabling customers to interact with all B2C businesses of the Group.
In Sept 2021, Adani Ent set up a wholly-owned subsidiary, Adani Digital Labs, with the object of transforming consumer businesses to digital-first businesses by creating an omnichannel, integrated platform enabling customers to interact with all B2C businesses of the Group.
10/n
The Shriram Group is also planning to launch a SuperApp for its financial products as well as for selling products of its partners — a comprehensive platform for purchasing all types of automobiles at discount, financial products, including loans, mutual funds & insurances.
The Shriram Group is also planning to launch a SuperApp for its financial products as well as for selling products of its partners — a comprehensive platform for purchasing all types of automobiles at discount, financial products, including loans, mutual funds & insurances.
11/n
FMCG major ITC has been an early mover in creating an agro SuperApp.
The company plans to invest $2 billion (around ₹14,851 crore) as part of the ‘ITC Next’ strategy, a part of which would be used to identify “new growth areas” such as plastic substitute and ITC MAARS.
FMCG major ITC has been an early mover in creating an agro SuperApp.
The company plans to invest $2 billion (around ₹14,851 crore) as part of the ‘ITC Next’ strategy, a part of which would be used to identify “new growth areas” such as plastic substitute and ITC MAARS.
12/n
The Mahindra group is also planning to integrate agriculture, finance, automotive and even used cars and tractors under one app, but prefers to call it the Farmer App.
The Mahindra group is also planning to integrate agriculture, finance, automotive and even used cars and tractors under one app, but prefers to call it the Farmer App.
13/n
In April 2020, Amazon launched a programme to digitise businesses of small local shops. Amazon claims over 50,000 shops across 450 cities on its platform. It has launched a $250-million venture fund, which helps in digitisation of small and medium businesses.
In April 2020, Amazon launched a programme to digitise businesses of small local shops. Amazon claims over 50,000 shops across 450 cities on its platform. It has launched a $250-million venture fund, which helps in digitisation of small and medium businesses.
14/n
Walmart-owned Flipkart, which did not discuss its plans, has also gone hyperlocal in the last one-and-a-half years through its Flipkart Quick and Flipkart Wholesale services besides running one of India’s largest marketplaces.
Walmart-owned Flipkart, which did not discuss its plans, has also gone hyperlocal in the last one-and-a-half years through its Flipkart Quick and Flipkart Wholesale services besides running one of India’s largest marketplaces.
15/n
Aggregator SuperApps will be collaborative. Digital payments services firm PhonePe allows partners Ola, redBus, Swiggy, Grofers, AJio, booking.com, Decathlon, and Delhi Metro to integrate their existing apps or mobile sites onto a single platform.
Aggregator SuperApps will be collaborative. Digital payments services firm PhonePe allows partners Ola, redBus, Swiggy, Grofers, AJio, booking.com, Decathlon, and Delhi Metro to integrate their existing apps or mobile sites onto a single platform.
16/n
Paytm realised early that payments is a utility driven business and people use it for different purposes. The Noida-based company decided to enter categories where the frequency of payments is maximum — shopping, food, telecom, utility, and transportation.
Paytm realised early that payments is a utility driven business and people use it for different purposes. The Noida-based company decided to enter categories where the frequency of payments is maximum — shopping, food, telecom, utility, and transportation.
17/n
State Bank of India [SBI], the country’s largest lender. It now allows customers to apply for loans, invest in mutual funds, buy insurance, do shopping and travel bookings, avail pharmacy and diagnostic services — all on its mobile banking and lifestyle app Yono.
State Bank of India [SBI], the country’s largest lender. It now allows customers to apply for loans, invest in mutual funds, buy insurance, do shopping and travel bookings, avail pharmacy and diagnostic services — all on its mobile banking and lifestyle app Yono.
18/n
ICICI Bank’s iMobile Pay app is also positioned as a one-stop platform, which provides banking services, utility bill payments, offers on shopping, travel bookings and dining to customers of any bank.
ICICI Bank’s iMobile Pay app is also positioned as a one-stop platform, which provides banking services, utility bill payments, offers on shopping, travel bookings and dining to customers of any bank.
19/n
India’s third-largest private sector lender Axis Bank’s online marketplace Grab Deals — also accessible through its mobile app — has around 45 partners across multiple categories.
Kotak Mahindra Bank’s KayMall allows consumers to shop and transact across verticals.
India’s third-largest private sector lender Axis Bank’s online marketplace Grab Deals — also accessible through its mobile app — has around 45 partners across multiple categories.
Kotak Mahindra Bank’s KayMall allows consumers to shop and transact across verticals.
20/n
Globally successful SuperApps have been largely modelled around grocery, hyperlocal delivery, social media, messaging, foodtech, mobility, and digital payments. Indian SuperApp ambitions —though still vastly under wraps — appear to be following that pattern too.
Globally successful SuperApps have been largely modelled around grocery, hyperlocal delivery, social media, messaging, foodtech, mobility, and digital payments. Indian SuperApp ambitions —though still vastly under wraps — appear to be following that pattern too.
21/n
“The most sophisticated apps like [Tencent’s] WeChat and [Alibaba’s] 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,”
“The most sophisticated apps like [Tencent’s] WeChat and [Alibaba’s] 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,”
22/n
Currently, the only guarantee all players are seeking is the market opportunity. In India, there is no dearth of that.
Game on.
Source: fortuneindia.com
Currently, the only guarantee all players are seeking is the market opportunity. In India, there is no dearth of that.
Game on.
Source: fortuneindia.com
Loading suggestions...