They initially offered credits worth $5 for the first two rides of DBS and POSB customers.
In its pursuit to seal its initial market share, Go-Jek will use promotion codes to lure more users into their side, RHB analyst Shekhar Jaiswal said.
Jaiswal noted that the new player’s initial offers include $5 credits for DBS and POSB customers for each of their first two rides in Go-Jek.
“We could see more of such discounts after Go-Jek’s full launch next year,” the analyst commented. “The fare structure seems competitive as well.”
The RHB analyst noted that the ride-hailing firm levies a base fare of $2.70 and $0.65/km charge with an overall minimum fare of $6.
“Whilst its website mentions dynamic pricing, Go-Jek has excluded ‘surge pricing’ during the first few weeks of the beta app launch,” Jaiswal noted. “In comparison, taxis have peak hour surcharges (25% of metered fare) and location-based surcharges.
He also noted that the lowest fare structure for taxis is a base fare of $3.20 and $0.55/km for the first 10 km and $0.63/km thereafter. Moreover, they have a time charge of $0.22 for every 45 seconds of waiting or less.
Considering this, Jaiswal said that GoJek has the lowest fare rates compared to ComfortDelGo and Grab.
Photo from Brand Channel.
Do you know more about this story? Contact us anonymously through this link.