"Across the 10 largest countries where Uber operates, about 15% of adults use either Uber for ride-hailing or delivery, Prashanth Mahendra-Rajah said during a presentation at UBS' Global Technology and AI Conference on Wednesday."
"Among Uber investors, "it's often a view of: 'There is no way I could use Uber anymore than I am, and there's no way my children can order Uber Eats more than they already do,'" he said."
"'But you are really a unique case compared to the US average,' he said. 'That's why we remain very optimistic.'"
Market penetration across the ten largest countries where Uber operates is about 15% of adults using Uber for ride-hailing or delivery. The US penetration aligns with that 15% average, leaving many potential customers in the home market. Frequent users in large cities create a perception of ubiquity, but a substantial portion of Americans do not use Uber regularly or at all. Investors who feel usage is saturated among current customers do not reflect the broader average. Growth opportunities include increasing adoption in suburbs, expanding grocery and bulk delivery services, and converting less-frequent users into regular customers. Ride-hailing demand from sparser suburban areas and deliveries from big-box retailers like Costco are specific targets for expansion. Continued focus on delivery, suburban coverage, and new customer acquisition could materially raise overall penetration rates.
Read at Business Insider
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