Pricing Strategy Analysis for Rideshare Company

What does a 2.56 Price Elasticity mean for a new rides company like Bolt or InDrive?

Here's what I found, working on this project

Between the sales years of 2021 and 2022, • Riders: ↑64.89% • Revenue: ↑202.68% • Profit: ↑105.65% • Price: ↑25%

This moved to inform my recommendations for the business to

Hold the base price at 4.99 and use targeted pricing.

Shift focus from “more riders” to “more rides per rider”.

Monitor the rider churn rate and the repeat rider percentage to coordinate personalized offers for riders.

And lastly, run a small price increase of about 3–5% in limited cities to gauge users' response. If it works, they scale up to more cities; if it fails, roll back quickly to the initial base price.