TAXI TRADE STEP 3 LEARNINGS: Pent-up taxi demand warming up as optimism grows
As restrictions ease, the predicted pent-up demand to get back to normality is gathering pace fast in some cities.
In London taxi fleets, payment solution providers and booking apps have all shared positive results based around the number of card payments and app bookings made recently.
A spokesperson from Cabvision said: “Another encouraging set of data from yesterday giving us further encouragement for an active Bank Holiday weekend.
“Our data has been showing that Mondays and Tuesdays remain subdued but that all other days recovering well. Still some way to go but poverty earnings appear behind us.”
Yesterday Cabvision also said: “Have no idea on all work levels but between Jan - May, transaction levels have increased by 600%
“Wednesday to Sunday are now consistently respectable days.
“We still have some way to go but when we wave goodbye to final restrictions driver earnings should quickly bounce back to pre-COVID.”
Since mid-April the number of card payments have doubled according to one set of data. Colts Cabs, one of London’s biggest taxi fleets, said via social media “JOBWATCH... 30,000+ busted on FRIDAY 28/5/21 by 1 out of the 4 no report on cash APPS and radio circuit job numbers.
“Let’s put it down to Pay Day. London is definitely returning to some form of normality!”
According to FREE NOW, its data shows a 38% increase in demand week-on-week in the UK. The company is now trying to recruit 10,000 more drivers as national restrictions ease further and social mobility grows to meet the increased demand that is set to continue once the UK fully reopens.
Mariusz Zabrocki, General Manager FREE NOW UK, said: “Since England moved from stage 2 to 3 in the lockdown roadmap, taxi journey numbers on the FREE NOW app are approaching pre-pandemic levels, with daily volumes fluctuating around 90% of values from early March 2020, before the first lockdown.
“Demonstrating a level of increased confidence amongst Brits, there has been a 150% increase in rides compared to the earlier stage of the lockdown in April. On 17 May, bookings between 5 and 6pm skyrocketed 107% week-on -week, as people could go to an indoor restaurant or a pub after work for the first time since early November.
“Friday and Saturday 11pm-midnight became the busiest ride-hailing time slot of the week for the first time this year.
“On a regional level, in London, the West End was alive again, with Tottenham Court Road experiencing a 188% rise in rides week-on-week, and Leicester Square 184%, the two largest increases in requests in the capital.
“Among other cities, Edinburgh registered the highest overall weekly growth (108%), with Leith Walk (up by 400%) and Royal Mile (up by 330%). In Reading, bookings to and from Reading University tripled, similarly to Hove Lawns in Brighton and Hove.”
What’s changed?
Quite simply people have the option to go indoors and to meet more friends and family. Social distancing measures still remain, but these variables certainly appear to have opened up demand and the economy. The early boom experienced in the first weeks of the restriction easing seems to have plateaued off, however there is now optimism whilst waiting for the next level of restrictions to ease.
