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Consumers Love Ride-hailing, But Commitment Remains Elusive

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Accenture Research conducted an online survey of 1,000 consumers in the United Sates of consumers who use ride-hailing services to determine satisfaction and opportunities of growth.

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Consumers Love Ride-hailing, But Commitment Remains Elusive

  1. 1. CONSUMERSLOVERIDE- HAILING,BUTCOMMITMENT REMAINSELUSIVE Preview of research from Accenture; more to come Copyright ©2020 Accenture. All rights reserved.
  2. 2. CONSUMERS LOVE RIDE-HAILING, BUT WE ARE IN A WORLD WHERE COMMITMENT REMAINS ELUSIVE. RELATIONSHIPS MUST BE ROOTED IN TRUST While 69% say that having their personal data protected is an extremely important aspect of the ride-hailing experience, only 1 in 4 say they completely trust their provider. The implications are significant as consumers are reluctant to provide additional personal data for the benefit of improving their ride-hailing experience BRANDS MUST HAVE PURPOSE Fewer than 1 in 3 strongly feel that their primary ride-hailing brand is a responsible business that promotes environmental and social interests. Additional Accenture research found that customers are twice as likely to share personal data with brands who give back to their community Less than half of US ride-hailers express interest in adjacent services like food delivery and even fewer show interest in multi- modal transportation (bike, scooter, etc.). While many younger consumers show the most interest in these related services, these consumers are also most likely to elude commitment to a single brand, placing a drag on the financials RELEVANCE IS STILL KING 2 KEYFINDINGS Copyright ©2020 Accenture. All rights reserved. GAINING EXCLUSIVENESS
  3. 3. NEARLY2OUTOF3RIDE-HAILERSWOULD CONSIDERREPLACINGTHEIRPERSONALVEHICLE– ALMOSTHALFWITHIN5YEARS Copyright ©2020 Accenture. All rights reserved. 87% 37% 18% 17% 11% 8% 9% WOULD REPLACE PERSONAL VEHICLE No Yes, within 1 year Yes, within 3 years Yes, within 5 years Yes, within 10 years Yes, >10 years 63% 3 13% 87% OWN/LEASE A PERSONAL VEHICLE No Yes
  4. 4. Copyright ©2020 Accenture. All rights reserved. 0% 1% 7% 28% 64% 0% 10% 20% 30% 40% 50% 60% 70% Not Satisfied at all 4 3 2 Very Satisfied SATISFACTION WITH RIDE-HAILING PROVIDER 92% of US ride-hailers are satisfied with their primary provider 1% 5% 53% 23% 17% 0% 10% 20% 30% 40% 50% 60% Decrease Significantly Decrease Slightly Stay the Same Increase Slightly Increase Significantly SPEND CHANGE IN NEXT 12 MONTHS 93% of US ride-hailers will maintain or increase spend in next 12 months SATISFACTIONISVERYHIGH;HALFWILL MAINTAINSPENDINGAND40%WILLINCREASE SPENDINNEXT12MONTHS 4
  5. 5. 5Copyright ©2020 Accenture. All rights reserved. YETCOMMITMENTISELUSIVE–41%INDICATE ANINTENTTOSWITCHPROVIDERSINTHENEXT 12MONTHS 41% MORELIKELYTO SWITCH 59% LESSLIKELYTO SWITCH Age 18-34 Gender Male Frequency Daily/weekly ride-hailers Purpose Social Commuters, shoppers, and doctor visits Book on behalf of others Age 35+ Gender Female Frequency Monthly/annual ride-hailers Purpose Social Travel and social ride- hailers Do not book for others
  6. 6. 6Copyright ©2020 Accenture. All rights reserved. RIDE-HAILINGBRANDSAREINTRODUCING ADJACENTSERVICES,WHICHCANPOTENTIALLY BRINGSEVERALBENEFITS Introduction of adjacent services can offer several benefits: • Diversify revenue streams • Attract higher transaction orders helping to offset costs incurred to host innovative payment options (such as digital wallets) • Shift the product mix, which can lower the financial burden of ride insurance • Provide scale benefits (Ops & Support, G&A benefits) • Provide cross-marketing benefits from the core platform that enable significant cost savings while fueling user base growth • Deliver more of an end-to-end solution to meet consumers’ needs Multi-modal Transport Tours Food Delivery Package Delivery Secure Package Delivery Subscription Services Grocery Delivery Ride-Hailing
  7. 7. THANKS! Copyright ©2020 Accenture. All rights reserved.

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