Over the past 4 years, Uber’s domestic consumer business has grown 65x in bookings (akin to GMV): and 83x in customers.
- US bookings
- 1-year growth of 46%
- 4-year CAGR of 184%
- US customers
- 1-year growth of 55%
- 4-year CAGR of 199%
Customer engagement (as measured by rides per month) has changed little over the past year: 30% of active riders still ride just once, 20% ride at least 7 times, and the top 1% ride at least 33 times per month.
Per-ride spend has been falling since 2012 and continued into July. Since last year, average ride spend for each engagement cohort has dropped between 7.8% and 11.6%.
Apart from a peak (37.7%) in February, the percentage of domestic consumer bookings attributable to highly engaged riders – those riding 12 or more times per month – remains largely unchanged (34.7%):
Sustained growth and increased competition over the past year has not impacted Uber’s customer engagement:
- 40% of US customers ride at least 4 times per month
- 20% of US customers ride at least 7 times per month
But riders are spending less per ride; with engagement holding steady, this means an overall decrease in rider spend. Customer LTV will be a key metric to watch in the months to come.