The most valuable real estate in the world is not in Hong Kong, Manhattan, Knightsbridge or Monaco. It’s in your pocket.
Your smartphone’s home screen has space for about 30 apps, depending on the display size. There are more than 2 million apps in Apple’s App Store and nearly 3.5 million on Google Play vying for those slots.
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The prize for landing one is huge: According to App Annie, a market data company, consumers spent US$143 billion on apps last year, consuming trillions of hours of screen time.
No wonder, then, that tech companies are racing to turn themselves into “super apps” – one-stop shops for a range of services, designed to entrench their app in your life.
Uber, Bolt, Grab and Gojek all claim to be super apps for transport, food delivery and logistics. PayPal, Klarna and Revolut hope to be financial super apps.
Spotify is on its way to becoming a super app for audio, adding podcasts and chat rooms to its music library.
Pitches for the “next super app” arrive in my inbox almost daily. It is a trend I fear is annoying for the user at best and hostile to new competition at worst.