By Ilaria Grasso Macola
Consumer confidence in ride-sharing apps is down, according to data released today.
Figures from analytics company Chattermill showed that trust in the likes of Bolt, Uber as well as Singapore’s Grab and Spain’s Cabify went down 25 points in the last year.
Drivers cancelling rides as well as prolonged waiting times and increased prices featured as some of the main reasons behind customers’ distrust.
“For ride-sharing, [loyalty and retention] has always been important,” said Chattermill chief executive Dmitry Isupov.
“But now, with heightened competition across every industry, price pressures, and customers less loyal than ever, having a laser focus on customer retention is business-critical whatever sector you work in.”
According to Isupov, the businesses that will survive are the ones that “truly understand their customers, meet their demands, and deliver experiences that drive loyalty and retention.”
City A.M. has approached Uber and Bolt for comment.
In London, demand for rides on Uber or Bolt has gone through the roof in the last few months especially as a result of the tube and rail strikes that have threatened to bring the country to a standstill.
During June’s tube strike demand increased so significantly that Uber was forced to cap the level of prices following a 50 per cent increase in customers.
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