Nedbank's super app sees 'meteoric rise'
Nedbank says its Avo super app has seen a “meteoric rise” in customers, now connecting over 1.5 million local consumers to 21 000 businesses listed on the platform.
Avo launched at the beginning of the national lockdown in 2020, offering essential services online during the lockdowns – a time when South Africans were forced to stay at home.
The super app, according to the big-four bank, has since matured into an all-encompassing multi-sided platform, serving consumers and businesses.
Through an array of partnerships with businesses of all sizes, Avo offers integrated business-to-business solutions, where corporates sell their goods or services to other companies, bringing their goods and services to the market through the platform.
Avo allows customers of any bank to shop for groceries, tech, professional home services like plumbing, prepaid electricity, airtime and data, liquor, takeaways, and most recently vehicles and healthcare solutions, via a single platform.
The pandemic led to an accelerated move to digitalisation by local firms and changing consumer behaviour, pushing many South Africans to do their shopping online, and seeing the rise of super apps locally and internationally.
A super app, also described as a digital mall, is a mobile application that provides umbrella services – a trend which has gained momentum in the past year, accelerated by more people taking to online channels.
Marking the app’s two-year anniversary, Ciko Thomas, groupmanaging executive of retail and business banking at Nedbank Group, says Avo is now scaling its on-demand delivery services, as a result of its customers multiplying by 4.7 times year-on-year.
“Avo’s free delivery service aims to deliver food and alcohol to the customer’s door in less than 60 minutes from the moment the order has been confirmed. This is becoming a massive help to both businesses and consumers, especially considering that food deliveries can push costs up by an average of 30%,” notes Thomas.
“Avo is now selling menu items of over 800 restaurants and liquor outlets – with a fleet of over 10 000 drivers and growing.”
Launched in August 2021, Avo Auto – a virtual vehicle mall – now hosts over 140 MFC-accredited dealers, with more than 6 000 vehicles available on the platform, says the bank.
“Avo Auto is accelerating digital transformation in the automotive retail industry. Vehicle buyers can check vehicle affordability, apply for finance, connect with dealers and get the best secure digital experience, while dealerships are afforded an alternative route to market,” says Julie Vetter, executive: digital fast lane at Nedbank Avo Auto.
“We’ve even had the opportunity to sell a Ferrari through Avo Auto recently, which is testament to the platform’s capabilities.”
More recently, Avo became an authorised reseller of Apple products.