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As apps and connected devices increasingly take centre stage in consumers’ lives, the appetite for a single app that seamlessly integrates banking, shopping and personal activities, the so called Super App, is rapidly growing.
New data shows that nearly half of consumers across key global markets want a single-service app for everyday commerce and shopping activities.
Europe stands as a key market in this regard, with many of its consumers ready to embrace integrated digital solutions. Many consumers in Europe want the greater efficiency and utility that an Supe App can bring to their digital lifestyles.
38% of respondents expressed strong interest in an app that consolidates digital activities such as shopping and banking.
These consumers tend to represent the lucrative younger and higher-income segments, though the trends vary somewhat across countries.
These are just some of the findings detailed in The Global Appeal of an Everyday App: Focus on Europe.
The report examines the increasing demand for integrated Super Apps among consumers across key global markets, particularly in Europe, and draws on insights from a survey of 10,885 consumers.
The increasing centrality of apps and connected devices in consumers’ daily lives drives a positive feedback loop of demand for greater convenience and efficiency.
44% of consumers in the United States, 43% in Australia and 38% in Europe want a single-service platform for commerce and shopping activities.
The research finds that demand for an everyday app depends more on the type of activity the app would be used for than on location-based factors.
Commerce and shopping
Consumers slightly favour including commerce and shopping over other activities, but banking, finance and managing important documents all follow close behind, with 38% to 41% of consumers in these markets saying they would prefer having all these activities accessible from a single app.
The data reveals that interest in an everyday app is higher among millennials than it is among those in other age groups.
Specifically, 51% of US millennials said they would prefer an everyday app to manage their digital activities, followed by 46% of their peers in Australia and 45% in Europe.
It is also noted that 52% of Generation Z consumers in Australia share this preference — substantially higher than observed in the other markets. Conversely, just one-third of baby boomers and seniors across all markets say they would prefer a single-app solution.
The overwhelming majority of consumers in Europe are plugged into apps in their daily lives, with 86% currently using internet-connected devices for their everyday needs.
These activities range from banking and shopping to managing personal tasks.
Consumers in the United Kingdom are the most connected, at 91%, while their peers in Germany come last among the European markets included in this study, at a still high rate of 81%.
Who is trusted to deliver Super Apps?
31% of consumers in Europe said reputation is critical to establishing trust in a provider of an everyday app.
The report asked consumers in these markets which institutions they trust to offer a Super App, and PayPal emerged as their top choice overall, trusted by 36% of respondents, on average.
Card networks followed closely behind, at 29%, and banks came third, at 27%.
Analysing data on the most trusted institution, however, we find that banks edge out PayPal, with 17% of consumers, on average, standing behind banks as the institution they would most trust — this share is 15% for PayPal.
Regional differences are at play here as well.
Consumers in Germany, for example, predominantly trust PayPal over banks, at 20% versus 18%, respectively, while the preferences of those in France are the opposite, at 22% versus 13%, respectively.
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