Louis

The global pandemic has influenced us to switch to a new normal lifestyle with strict adherence to social distancing. The inevitable need to avoid human contact in public spaces has resulted in the massive growth of the cashless economy. In fact, Visa, a leading payment technology company, claims to have witnessed a whopping growth of 187% in online cash transactions since April 2020.

Louis

The global pandemic did take a toll over the ride-hailing industry for the past few months. However, the sector has started regaining its prospects as commuters are gradually switching to the new normal.
Now is the time to start your ride-hailing business and if you can rightly address the market demands in sync with the new lifestyle, you can achieve business growth in a short span of time.

Louis

Though the COVID-19 pandemic hit ride-hailing hard, the industry is now gradually booming again. In fact, it is predicted to attain a growth of up to 55.9% and the market revenue is expected to hit 120 million USD in 2021 from 76 million USD in 2020. Service providers are now coming up with new enhancements to ensure maximum safety for both passengers and drivers.

Louis

Businesses face ups and downs but what really matters is how entrepreneurs manage risks and stand their ground amid a crisis. The same applies to the ride-hailing industry. Leading service providers have always managed to overcome crises including the COVID-19 pandemic all by devising innovative strategies to handle the situation better and keep their businesses going even during these uncertain times. Ultimately, failure is just a phase and good times are not far behind.

Louis

Despite the lockdown that followed the COVID-19 pandemic, ride-hailing companies are functioning to cater to the inevitable transit and delivery requirements of the community. Taxi drivers play a vital role here because it is they who go the extra mile to execute the jobs manifested. Given the scenario, you have to take every possible measure to help your drivers to keep away from infections while they are out there serving the community.

Louis

The ride-hailing taxi industry has a much wider scope for growth especially with the increase in the need for easy access to daily transit. In fact, the global ride-hailing market valued $36,450.0 million in 2017 is projected to reach $126,521.2 million by 2025. With the growing market demand, taxi businesses can gain massive profits if they can formulate an effective business strategy and rightly execute the same.

Louis

As the taxi industry continues to grow exponentially, there seems to be a constant struggle between taxi companies to hire and retain drivers. The acute demand has led to a shortage of professionals and so it is imperative to retain your existing drivers and not risk losing them to your competitors. Here are 4 effective driver retention strategies.
Driver Engagement
Engaging drivers is the biggest prospect in the taxi industry.