Page 8 - AeM_August_2020

RESEARCH
ANALYSIS
TRENDS

How is Covid-19 changing South-east

Asia’s super apps?

After enjoying years of exponential growth, South-east Starting off as a motorcycle ride-hailing service in
Asia’s super apps have been forced to reassess their Jakarta in 2010, Gojek launched its app in 2015 and
business models because of Covid-19, with many has since expanded into a multipurpose platform
refocusing their priorities as they plan for the post- offering 18 different services, including food delivery,
pandemic world. financial services, telehealth services and video
streaming. The company, Indonesia’s first unicorn, is
In recent years so-called super apps – online or mobile valued at $10bn. In addition to its home market, it is
platforms that combine multiple services into one app – active in Singapore, Thailand, and Vietnam.
have sought to continuously expand their offerings.
Similarly, Grab was formed in 2012 in Malaysia as a
While many started off with one core business, such as taxi-booking mobile app but has since moved its
online messaging, ride-hailing or digital payments, they headquarters to Singapore and expanded into food
have expanded into increasingly diverse areas. delivery, financial services, and hotel booking, among
other segments. It is valued at $14bn and operates in
The development of super apps has been more eight countries across the region.
prominent in Asia than anywhere else. Among the
world’s largest are Chinese platforms WeChat and Closure of non-core services
Alipay, Indonesia’s Gojek and the Singaporean-
headquartered Grab. Despite this recent growth, the economic fallout of
Covid-19 has forced these apps to reconsider their
Gojek and Grab play a particularly significant role in the plans for ongoing expansion, with many looking
emerging markets of South-east Asia.
towards consolidation rather than expansion.

August 2020: people-oriented communication strategies and social networks 8