Taxi services revamp features in response to an influx of competitors
Implications - It is indisputable that the traditional taxi has been edged out by more convenient counterparts in recent years, and these services are having to revamp what they offer in response to this ever-increasing competition. This shift involves everything from technological changes to eco-friendly innovations, offering consumers the increasingly detailed purchase incentives they now seem to prioritize.
Workshop Question - Think of the ways some of your competitors have been able to edge you out? How can you transform your own processes to counter some of these shifts?
Trend Themes
1. Eco-friendly Taxis - As the public becomes increasingly environmentally conscious, offering eco-friendly taxi services is becoming a necessary trend that is not only environmentally responsible, but also cost-effective for companies looking for a competitive edge.
2. Intelligent Transportation System (ITS) - With advancements in technology, implementing an intelligent transportation system or ITS can help taxi companies become more efficient. Incorporating features like GPS-enabled vehicles, real-time tracking, and predictive algorithms can save time and money for both companies and passengers.
3. Autonomous Air Taxis - As innovative technology like drones and electric air vehicles become more advanced, it's likely that autonomous air taxis capable of transporting passengers will redefine the concept of transportation as we know it.
Industry Implications
1. Transportation - The transportation industry can benefit from trends like eco-friendly taxis, ITS, and autonomous air taxis, driving a shift from traditional transportation and increasing efficiency, convenience and other incentives for consumers.
2. Technology - Many technology solutions like ITS systems, autonomous air taxis, and other modernization concepts are defining next-generation transportation, offering business professionals the opportunity to redefine how we think about it, and develop new ways of optimizing resources and processes.
3. Travel and Tourism - As the travel industry expands and the public becomes more mobile, taxi services built on eco-friendly and modern style concepts and convergence with other types of services like tours, guiding and catering, become an accessible solution to a market looking to make use of the time spent moving around unfamiliar territory or a city.
