Lyft - Uber Competitive Insights
While Lyft may have beaten Uber to IPO first, how are the two companies performing in the battle for market-share and customer loyalty?
We analyzed the credit and debit card records of millions of anonymous U.S. consumers to see how transit and ridesharing spending has changed over time.
As observed in the visual below, Lyft has consistently gained share against Uber since 2017.
* Uber includes UberEats transactions prior to August 2017
Zooming in on the NYC market, ridesharing services have become an increasing portion of the transportation market since 2013. Though Uber was the first entrant, Lyft has commanded an increasing share of the market every quarter since 2016. Via and Juno capture modest shares of the market today.
Cohort retention and Customer Lifetime Value (CLTV) are two metrics to compare customer health of Lyft and Uber. Lyft cohorts appear stickier (higher retention) and more valuable (higher CLTV) than Uber’s, although newer cohorts appear to be less valuable for both merchants.
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The underlying competitive, geographic, and customer dynamics driving consumer behavior. Track customer full-wallet spend, customer migration and metrics at the merchant level.