Wednesday, 9 August 2017

Sharing economy

Today is 9th August 2017, Singapore's national day. It's a public holiday, and the following day is a school holiday. This explains why I have time to update my blog. 😊 

Today, I'll be attending a preview of the new Changi Airport terminal 4. We are building not just one, but two new terminals 4 and 5 together with the Jewel, the latter two will only open many years later. Our airport seems really busy, for a small country like us. Haha!

Anyway, looking forward to T4 and will update on this blog soon. 

Since I have time today, I would like to do a post on the sharing economy. In recent years, this has been the limelight not just in Sg, but around the world. We are quick to catch on as well. 

For starters, there is Uber and Grab, featuring the ride-sharing economy. This has gone down very well with riders like me, but not the taxi providers. But as the saying goes, if you can't beat them, join them. So now our taxis have tied up with Grab to provide rides as well.

I have tried, and in fact, been taking Grab and Uber on a daily basis to and from work so would like to give my two cents' worth. In most cases, Grab works out cheaper than Uber so is usually my main mode of transport. 

Both also offer the Grabshare or Uberpool services where we share rides with other riders going to destinations near ours. The difference, however, Grab limits to two riders while Uber limits to three riders. The advantage is costs are down, but the disadvantage is time is longer, depending on who gets drop off first. The first one to board might be the last one to alight.


Uberpool

Grabshare

Sometimes when I'm lucky, no other riders share the ride with me, so I benefit from the cheaper fares.

In almost all cases, I would usually take this service so I will allow a longer travelling time in exchange for lower costs. The other riders I have met so far have fortunately been very pleasant and understanding towards the situation.

Some drivers have told me of other riders who, despite willingly took this service, yet complain of long detours and long duration. I think if I or the others are in a hurry, we should just take justgrab or uber x instead. The costs will then be higher, but we get the car to ourselves. Anyway, it is still cheaper than flagging down a taxi on the street and we always know exactly when the car is arriving.



Both Grab and Uber have been offering many promotions so I have been able to take advantage of almost every day. For example, Grab has $6 off every second ride while Uber has $3 off every ride. Both also tie up with credit card companies to offer discounts. 

Grab has the in-app grabcredits where riders earn enough points to redeem rides or other gifts. Probably Uber should have one too.

I think currently both companies are not exactly profitable but they are just trying to expand their market share. Hopefully their promotions will continue for a long time. πŸ˜ƒ As long as their fares, whether pool or solo, are cheaper than traditional taxis, I will continue to ride with them in times of need.

Yup, that's all. In the next post, I shall cover another aspect of the sharing economy - bikes.