After the COVID-19, the ride-hailing industry is expected to skyrocket to a growth rate of about 55.9% between 2020 and 2021. The estimated revenue from the ride-hailing market is expected to reach $120 billion in 2021 from the existing $76 billion in 2020. Get to know how the industry will adapt.
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Less than a year ago, travel, transportation, and tourism looked as if they were poised to grow without any kind of slowing down. However, today, the industry has plummeted to unprecedented depths – the newest ever since is nascent stages. This dubiously unprecedented distinction has to be credited to the COVID-19 crisis. The Coronavirus has made travel and transportation seem like a luxury beyond reach.
This does not, however, mean that the ride-hailing industry is set to stay confined to its nadir. After the COVID-19, the ride-hailing industry is expected to skyrocket to a growth rate of about 55.9% between 2020 and 2021. The estimated revenue from the ride-hailing market is expected to reach $120 billion in 2021 from the existing $76 billion in 2020.
These projections might sound appealing but the ride-hailing industry will not be the same as it was! If you are a ride-hailing entrepreneur and would like to taste success and profit in the post-COVID-19 era, there are a few precautionary measures you will need to take. Safety and hygiene which we are often overlooked will now become aspects of paramount importance.
Here are a few measures that can be taken by ride-hailing applications after the COVID-19 unlocks
- The number of users using a taxi should be limited to two. This will ensure that the expected social distancing norms are complied with.
- Masks have become a mandatory piece of clothing as opposed to being a medical accessory. Taxi app companies should ensure that their drivers wear masks. They can do so by asking drivers to upload selfies of them wearing face masks before they except rights. The app can include a real-time identity check to ensure that the masks do not conceal the identity of the driver.
- Drivers can be provided with a simple safety checklist that they are required to comply with before they accept a ride. Likewise, passengers can also be provided with a similar list before they book a ride.
- Cancellation charges have always been a pain point for users concerning apps like Uber. The passengers and the drivers should be given a choice to cancel the rights if they feel even an iota of insecurity and in the event of either party not following safety guidelines.
- Both users and drivers should remember that any lapses in compliance with safety measures are bound to result in negative feedback.
Post COVID-19 will entertain new entrants to ride-hailing segment
Before the COVID-19 crisis, ride-hailing was one of the most promising segments of business in the on-demand sector. The current slow down might have brought down the business volumes, but it does not mean that the future is uncertain. The ride-hailing app development will certainly boom back to its original glory. In certain crowded areas, using public transport might not be an option that would be considered by people who can’t afford to take a ride in the cab. They would, any day, prefer to spend money on their health and safety rather than save some!
Given these circumstances, it is only expected that the demand for creating apps like Uber will increase. White label solutions like Uber clone app might be the panacea that aspiring entrepreneurs would look for.
Just like her Uber cost guiding light on right heating and on-demand services, it has also shown the way on how to run a taxi business during the COVID-19 crisis. Following suit, a lot of Uber clones have also replicated almost all the features essential for a time of crisis like now, and a promising future as well! Some of these measures might not be specific to the crisis but are bound to help in the sprouting of success in the post COVID era.
Keep a fine line between being global and being local
Uber arrived at a perfectly fine line between being global and being local. Let us take the Indian market for example. Instead of bringing in a global celebrity, they wrote in the Indian cricketing superstar Virat Kohli as their brand ambassador. This made the Indian audience strike a perfect emotional chord with the brand and helped skyrocket its usage and downloads, especially during the Cricket World Cup 2019. At the same time, it has not completely compromised on its Cosmopolitan of it as well. The logo still bears its flavors of minimalism and class.
Review and rating system
Uber was relentless in its focus on customers. Then we talk about customers, we immediately tend to think about the riders availing cab services. However, for Uber, drivers are customers as much as riders are. Uber has arrived at a perfect balance between making both customers feel delighted. A simple but resounding testimony to this fact is that the review and rating system on the app is mutual-it is not just that customers can rate drivers but even drivers can rate customers based on their behaviour.
Giving the Stakeholders what they want
On one side, they make their customers feel pampered and welcome with their offers and discounts that provide their loyalties. Drivers also get their fair share of benefits. There have been instances where Uber drivers have been eligible for free online classes from the University of Arizona.
Uber also understood the pulse and requirements of customers to an uncompromising degree of precision. They sensed that the market was slowly slipping away from baby bloomers and was getting into the hands of millennials. They also foresaw that the millennial lifestyle is poised to be the order of the future. The millennial have always enjoyed the feeling of being in control and being empowered. In simple words, Uber understood that millennials would like to have the cab reach their doorstep rather than leaving their home and reaching their cabs.
Explore all business opportunities
The core offering off Uber might be to move people from point A to point B. However, Uber does not hesitate to explore business opportunities and intensify engagement. Uber facilitates on-demand videos inside their cars and also cross-sells other services like UberEats. This makes sure that customers participate in the app beyond the current utility it offers.
The difference between a normal service and a premium service in Uber is not the difference between a mediocre service and a good one! Irrespective of the range of the service, they ensure that their cars are impeccably clean and the driver follows all the safety measures. It is to be remembered that it is only the marketing points like these that will help you position yourself better than your competition!
User Interface
Above all these factors, what Uber has mastered is the art of creating an impeccable and intuitive user interface. It is ensured that people with minimal technical exposure can use their apps without any hassle. They have ensured that the calling of a cab can be completed in less than four steps, and they have taken care to clearly defined the flow of the process. The user interface might not seem like something that takes a lot of effort to create. However, it should be remembered that your user interface is the first thing that your users encounter. It is important to create an impact at first impression with your user interface and experience.
Conclusion
The COVID-19 crisis might have slowed down the industry and the ride-hailing market. It does not, however, mean that the industry will come to a standstill. It is poised for a higher bounce back after the crisis. This is the right time for aspiring entrepreneurs to invest in a ride-hailing app like Uber.
Building an app like Uber from scratch could be quite a cumbersome task. Alternatively, you can consider purchasing white-label taxi app solutions. These Uber clones are easily customizable and will help you launch your service without any delay. Since the product is available off the shelf, it will not cost you a lot either. It also eliminates the possibility of finding bugs that might interfere with the basic functions of your app.
All you need to do is get in touch with an app development company that specializes in the development and customization of taxi apps. They will take care to understand the requirement, create your product, customize the interface, and deliver it to you. It is just a matter of time before you launch your taxi booking app at the perfectly right time!
