On-demand apps created a scenario where it will be extremely difficult for all of us to spend even a day without them. It can be for ordering our food or booking a taxi; they are vital for us in all aspects of life. The on-demand app business is the newly emerged entrepreneurial idea among individuals. This has literally put an end to the era of brick-and-mortar-based businesses.
Super apps have gone a step ahead and literally brought all the necessary on-demand services to one single destination. These apps are highly efficient and are roaring path-breaking hits in the market. Are you ready to make your mark in the on-demand app market? Well, we are here to help you to launch a Super app like Grab in the market. Here we go with reading the blog further.
Timeline and History of Grab
Grab’s history traces back to 2012 when it launched its taxi-hailing services in Malaysia. That is where its success began. Grab became a huge success in the Southeast Asia market with a valuation of $16 billion. When apps like Uber and Lyft dominated the US market, it was Grab who ruled the Asian market. Currently, the app is available in 30 Asian cities. They did not limit their services to just ride-hailing but also extended to offer limo, ride-sharing, eclectic taxis, and e scooters.
In 2016, they renamed their app from GrabTaxi to Grab. The same year they introduced their Fintech solution where the users can scan the QR code to pay their ride fares. Along with this, it also allowed users to use them for paying for their in-store purchases and other online services. GrabPay provides several financial services for the users to get their loans and other financial services.
In 2018, they created their strategy to transform their app into a Super app. As a step towards it, they launched their food delivery services under the name “Grab Food.” The food delivery solution became a huge hit in the SouthEast Asia market within a few days. In the same year, they expanded their app to provide grocery delivery with a name called “ GrabFresh.”
In 2020, the company witnessed around a 70 percent increase in its overall revenue. It faces strong competition in the market from various other big players like Uber, Didi chauxing, and Lyft in the global market.
The business model of Grab
What Grab does is establish a platform for the users and service providers to meet each other. Their business model literally involves the customers, service providers, and delivery agents. Moreover, it lays a road for all these people to meet in a common forum. Let us see how an app like Grab works,
- The users will register with the app and create their own profile with their email address and phone number.
- They can choose their desired services from the app. The in-built GPS technology will help them find their nearby service providers.
- The delivery agents will also get their notifications, and they will reach those service providers to pick up their orders. Upon picking up the orders, they will deliver them to the customers.
This is how it establishes a forum for the service providers, customers, and delivery agents. As a Super app, it provides multiple services under a single roof. The users can opt for their on-demand services by placing their service requests to the service providers.
How to emerge as a Super app in the market?
The on-demand app market is highly lucrative for entrepreneurs to try out their luck. Traditional brick-and-mortar businesses have become an old-school idea these days. Smartphones and the internet have already taken over the world miraculously. Whenever we are in need of services, the next moment, our hands go towards smartphones. This demand from people can be addressed only through on-demand apps. So, brace yourself to make your entry into the market in no time.
Here are some convincing reasons why you should give yourself a pat to try out in the Super app category,
- When you focus on providing one particular service to your users, the target audience will be too limited. For example, if you are launching a food delivery app only for ordering their food, people will prefer approaching your app. But in case you offer more than one service, the number of participants will be high. So, your profit will also increase severalfold.
- By launching your Super app, you are expanding your network and brand visibility in the market. You will gain the opportunity to partner with various service providers under different streams. This will help you gain your commissions and profit share from all of them.
- In the current scenario, the on-demand app market has witnessed only a smaller number of Super apps. These apps are quite reputed in SouthEast Asia, and almost every household has at least one app to carry out their activities. Even countries like the US and UK have come forward to accept their first-ever Super app. When the doors are broad open across you, why not accept it?
What is the budget to launch a Super app like Grab?
From the scratch app development is quite a challenging task that requires a lot of technology stacks to support throughout the development process. The price of developing an app is generally calculated based on various factors. These factors have large impacts on deciding the overall cost. The factors include the app platform, app design, advanced features that are technically sound, customization level opted, total hours spent by the developers, the location of the app development company, front-end, and back-end development. In case if you opt for additional services like API integration and bug fixing, the cost will increase considerably.
Another popular option for developing a Super app from a white-label solution like the Gojek clone app. With a well-developed Gojek clone, you can swiftly establish your multi-purpose marketplace for people. Go with proper market research to know the demands and trends of the market. Finally, hit the market with your extensively crafted app.
Wrapping up,
On-demand apps are providing several business opportunities for entrepreneurs to try out their luck in the market. The online platform is wide and open for individuals to expose their creativity and skills. All you need is to invest in developing a sound app.
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