Apr 23rd 2021
Key Takeaways
• Comparing spend the week of March 29, 2021 to the corresponding week in 2020 (March 30), Uber is up 347% and Lyft 268%.
• As of March 2021, the two services together regained 52% of the ground they lost since their biggest low in March 2020
Last year saw many changes in the rideshare industry following the onset of social distancing and a worldwide shift toward staying home. In our report from last year we noted that by March 15, 2020, U.S. national rideshare usage was beginning to enter a steep dive. Since then, rideshare usage has gradually recovered. To measure how the industry has changed in 2021, Edison Trends analyzed more than 1.5 million Uber and Lyft transactions.
Figure 1: Chart shows estimated weekly spending on rideshare services Lyft and Uber across the US from December 30, 2019 - April 4, 2021, according to Edison Trends. Note: The highest spend per week was set to 100, and all other values were scaled accordingly. This analysis was performed on over 1.5 million Uber and Lyft transactions.
Rideshare has experienced a bumpy road since the start of social distancing. After the decline in March 2020, Uber and Lyft saw growth through the summer and early fall, up to the week of October 26, 2020. The industry then experienced a dip, with declining customer spending from late fall into winter. Since then, the industry has seen growth again.
Both services saw a new post-covid high the week of March 15, 2021. As of the week of March 29, 2021, Uber had regained 53% of the ground lost in the big drop of spring 2020. Lyft had regained 51% of the ground it lost; as a whole, the two services together had regained 52%.
Comparing spend the week of March 29, 2021 to the corresponding week in 2020 (March 30), Uber is up 347% and Lyft 268%. Together, the two services have risen 317%. Looking at month-over-month increases, Uber's March 2021 customer spending was up 28% over February, and Lyft's was up 35%. Together, the services increased by 30%.
As the market evolves, we will continue to stay on top of the latest trends. To learn more about how Edison Trends can help your business, contact us at bizdev@edison.tech. For more up-to-date insights in the e-commerce space, be sure to subscribe to our newsletter, and follow us on Twitter at @EdisonTrends.
*The data shown is based on a sample of anonymized and aggregated e-receipts from millions of consumers in the United States.