WHETHER OR NOT YOU LIKE IT, WHETHER THEY OFFEND YOU ON THE ROADS OR NOT, THEY ARE CERTAINLY COMING BACK – SAY HELLO TO BIKES.
A few years ago, bike-hailing – popularly known as Okada in Nigeria – was scrapped in many cities in the country, particularly the urban areas. All those who were plying their trade in that line of business back in the day either went out of work or ventured into some other type of business to make ends meet. A few years later, some brands who are now the industry’s top market players came on the scene to bring sexy back and this they did in grand style. Feeding off of the back of Uber’s success, severe traffic conditions in the country, and the quest to find new ways to make more money by the Nigerian populace, it was seemingly the right timing for ride-hailing to get back on the scene.
Players like Maxng, Gokada, and Opay have recorded great success and the industry isn’t just attaining mega feats in Nigeria, also globally. The ride-sharing market is booming, and regardless of certain obstacles it has shown no sign of slowing down. The global ride-sharing market is predicted to reach $170 Billion by 2025, up from $43 billion in 2017, according to Adroit Market Research. This growth is making room for new players around the world, challenging market leaders and expanding the original ride-hailing model into a nimble, omnichannel suite of services.
In China, ride-hailing services are proliferating and pivoting to address a variety of offerings –attracting the attention of big investors in the process. Visa sought a strategic partnership to invest in Indonesia-based ride-hailing startup Go-Jek to build out their in-app payment platform. Go-Jek amassed a $1 billion investment in January 2019 from a host of heavy-hitting tech companies including Google, Tencent and JD.com, aiding the expansion of Go-Jek’s mobile payment and food delivery services. Go-Jek started with a fleet of 20 motorcycle taxis in 2011 and has since expanded to offer a wide-ranging portfolio of services, including transportation and logistics – from the original taxis to shipping and moving services – food delivery and personal care services like on-demand massages, manicures and waxing. Also, In April 2019, Singapore-based ride-hailing app Grab announced a new suite of services for seamless activity planning. The new services allow users to book hotels, purchase movie tickets and stream video on-demand through the Grab app. This rollout follows a collaboration with Chinese insurance giant Ping An in August 2018, making healthcare another potential enhancement of Grab’s omnichannel toolbox, building onto mobile payment, food delivery and online booking (JWTIntelligence).
This is really interesting as Nigerian players would need to watch their backs. InDriver, a ride-hailing service that launched in 2012 in Russia expanded its reach to Tanzania in 2018 and has announced that they’ll be spreading into countries like Nigeria, Ghana, Zimbabwe, and Namibia. Personally, I can’t wait to enjoy all the benefits that will come from promotional advertising from these heavy hitters.