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Financial services, retail, logistics and many other industries changed and transformed considerably in 2020 both worldwide and in Turkey. With the significant impact of the pandemic on this change, new players and business models emerged in various industries.
This global change also stands out in Turkey. Recently, the major players of different industries in Turkey have integrated other industries in their applications and are moving into Super Apps.
Today, we spend approximately 3 hours a day on applications on our smart phones. Time spent has increased by approximately 25% as a result of social distancing and the restrictions that have become part of our lives due to the pandemic. We use various applications on our mobile phones, such as those for mobile banking, digital wallets, e-commerce and public transportation. So, what would it be like if we could make all these transactions through one single application?
Super Apps provide integration of several transactions, including payment and ID management, using a single application. More importantly, Super Apps can customise these services based on our needs.
Understanding clients’ needs and providing tailor-made value propositions to them will bring solid success.
In order to compete with Super Apps, businesses should decide on their strategies:
A fast-growing sector with high competition which attracts investors.