<p>Uber dominates the market for ridesharing in the U.S. with 76% market share according to research firm Bloomberg Second Measure.</p>
<p>Consumer spending data analytics show that in March 2024, observed U.S. rideshare sales at Uber were up 10 percent year-over-year, while Lyft’s observed sales were up 3 percent year-over-year.</p>
<figure class="wp-block-image size-large"><img class="wp-image-5175" src="https://secondmeasure.com/wp-content/uploads/2024/04/Image-1-Rideshare-Observed-U.S.-Sales-Mar-2024-1-1024x571.png" sizes="(max-width: 1024px) 100vw, 1024px" srcset="https://secondmeasure.com/wp-content/uploads/2024/04/Image-1-Rideshare-Observed-U.S.-Sales-Mar-2024-1-1024x571.png 1024w, https://secondmeasure.com/wp-content/uploads/2024/04/Image-1-Rideshare-Observed-U.S.-Sales-Mar-2024-1-300x167.png 300w, https://secondmeasure.com/wp-content/uploads/2024/04/Image-1-Rideshare-Observed-U.S.-Sales-Mar-2024-1-768x428.png 768w, https://secondmeasure.com/wp-content/uploads/2024/04/Image-1-Rideshare-Observed-U.S.-Sales-Mar-2024-1-1536x856.png 1536w, https://secondmeasure.com/wp-content/uploads/2024/04/Image-1-Rideshare-Observed-U.S.-Sales-Mar-2024-1-2048x1141.png 2048w" alt="Rideshare - Observed Monthly U.S. Sales at Uber and Lyft" width="1024" height="571" /></figure>
<p>After a dip at the onset of the pandemic, observed U.S. consumer sales at both Lyft and Uber began to recover in May 2020. By April 2022, observed sales at Uber exceeded their pre-pandemic levels and remained elevated throughout most months of 2022 and into 2024. Meanwhile, observed sales at Lyft are yet to reach their pre-pandemic levels as of March 2024.</p>
<p>Notably, during its FY23 Q2 earnings call, Uber reported its <a href="https://www.nytimes.com/2023/08/01/technology/uber-quarterly-earnings.html" target="_blank" rel="noreferrer noopener">first-ever operating profit</a> and highlighted Uber Rides as the business line with the highest year-over-year revenue growth. During its FY23 Q4 call the company announced its <a href="https://www.ft.com/content/7a333873-b860-4139-82db-4517eb7ddcd2" target="_blank" rel="noreferrer noopener">first annual operating profit</a>.</p>
<p>Looking at the rideshare competitors’ market share, the breakdown of March 2024 observed sales between Uber and Lyft remained consistent compared to the prior month. In March 2024, Uber accounted for 76 percent of observed U.S. rideshare spending, about the same as in February 2024.</p>
<h4 class="wp-block-heading">How have observed sales per customer fared at Uber and Lyft following a period of high inflation?</h4>
<p>After a period of <a href="https://apnews.com/article/inflation-prices-costs-economy-federal-reserve-rates-67149484e11abd8d0d18e0fdd69ec256" target="_blank" rel="noreferrer noopener">high inflation in 2021 and 2022</a>, consumers <a href="https://www.wired.com/story/uber-ceo-will-always-say-his-company-sucks/" target="_blank" rel="noreferrer noopener">are paying more</a> for their rides. In March 2024, the average monthly observed sales per customer at Uber was $107, a 6 percent increase year-over-year and a 17 percent increase from March 2022. Meanwhile, the average observed sales per customer at Lyft in March 2024 was $95, 5 percent higher than in March 2023 and 8 percent higher than in March 2022.</p>
<figure class="wp-block-image size-large"><img class="wp-image-5176" src="https://secondmeasure.com/wp-content/uploads/2024/04/Image-2-Rideshare-Average-Observed-U.S.-Sales-Per-Customer-Mar-2024-1-1024x572.png" sizes="(max-width: 1024px) 100vw, 1024px" srcset="https://secondmeasure.com/wp-content/uploads/2024/04/Image-2-Rideshare-Average-Observed-U.S.-Sales-Per-Customer-Mar-2024-1-1024x572.png 1024w, https://secondmeasure.com/wp-content/uploads/2024/04/Image-2-Rideshare-Average-Observed-U.S.-Sales-Per-Customer-Mar-2024-1-300x168.png 300w, https://secondmeasure.com/wp-content/uploads/2024/04/Image-2-Rideshare-Average-Observed-U.S.-Sales-Per-Customer-Mar-2024-1-768x429.png 768w, https://secondmeasure.com/wp-content/uploads/2024/04/Image-2-Rideshare-Average-Observed-U.S.-Sales-Per-Customer-Mar-2024-1-1536x859.png 1536w, https://secondmeasure.com/wp-content/uploads/2024/04/Image-2-Rideshare-Average-Observed-U.S.-Sales-Per-Customer-Mar-2024-1-2048x1145.png 2048w" alt="Rideshare - Average Observed U.S. Sales Per Customer " width="1024" height="572" /></figure>
<p>Looking at annual patterns, both companies typically see a dip in per-customer spending during the winter months, followed by a spike in either late winter or early spring. In 2024, average observed sales per customer at Uber increased 6 percent between February and March, while at Lyft, average observed sales per customer increased 5 percent over the same period.</p>

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