GoJek uses promo codes to lure more users

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.

Also read: Go-Jek launches beta app in Singapore

“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.

Also read: Go-Jek's Singapore debut may fall short of Grab's ‘superapp' capabilities

“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.