SAN FRANCISCO--(BUSINESS WIRE)--Consumers are using ridesharing services more frequently and spending more on them, according to SharesPost’s Second Annual Ridesharing Consumer Survey.
“U.S. consumers have developed a healthy appetite for ridesharing, and the demand for these services continues to grow,” said Rohit Kulkarni, Managing Director and Head of Research of SharesPost, Inc. “Uber and Lyft are the clear beneficiaries of this trend, which continues to capture market share from public transportation.”
Among the findings from SharesPost’s survey of 6,880 ridesharing users at the end of 2017:
- U.S. ridesharing adoption jumped from 38% in 2016 to 53% in 2017. 53% of respondents have used one or more ridesharing apps in the past 12 months. This percentage is up 15-points from SharesPost’s 2016 survey.
- Lyft’s U.S. market share has increased substantially since 2016. The ongoing battle between Uber and Lyft is one of the defining features of the U.S. ridesharing space. In 2017, 18% of ridesharing app users reported using Lyft most often. In 2016, just 10% indicated Lyft as their first ridesharing choice. By contrast, the percentage of respondents who most often use Uber dropped meaningfully, from 76% in 2016 to 65% in 2017.
- In a head-to-head comparison, Uber has a slight edge in consumer perception vs. Lyft. While Uber is the reigning market leader, the company’s recent troubles have enabled Lyft to significantly gain ground. Currently, 24% of consumers consider Lyft and Uber to be essentially equivalent. 24% consider Uber to be superior, while 16% consider Lyft to be superior.
- Consumers are spending more per ride and using ridesharing services more frequently. Uber and Lyft users now use ridesharing services an average of 40 times a year, and spend, on average, approximately $15 per trip. This is a 42% increase in usage frequency for Uber users and a 25% increase for Lyft users.
- Ridesharing services are replacing public transportation. Consumers are increasingly choosing ridesharing over traditional means of transportation — in particular, public transportation. Respondents indicated they are using public transportation and traditional taxi services less often.
About SharesPost, Inc.
SharesPost is an SEC-registered broker-dealer, investment advisor and an approved Alternative Trading System. SharesPost helped launch the private tech growth market in 2009 and has built one of the leading platforms for secondary transactions and Initial Coin Offerings pursuant to Reg. D. SharesPost provides the private tech asset category with a suite of trading and lending solutions to facilitate shareholder and option holder liquidity. With nearly $4 billion in secondary market transactions for more than 200 leading technology companies, SharesPost provides the trading, research and online tools to transact in the private market with confidence. For information, visit sharespost.com.
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