Scoot Networks' bright red electric scooters are seen on every corner in San Francisco. Unlocked via an app, costing three bucks for thirty minutes (almost the same as a bus ride) and not requiring any special driver's license, Scoot is showing strong revenue growth this year, per the transactions from over three million credit and debit cards in the TXN consumer spending app:
With hundreds of new-generation scooters on the road, usage really took off with the end of the rainy season in March.
The growth came from both an increase in number of customers as more people joined...
...As well as existing customers taking more rides, as indicated by our transactions-per-customer metric:
Where are people riding Scoots to?
Now, let's look at how much Scoot riders are spending at some popular grocery and drug stores. For comparison, we've also included riders of Uber and Lyft, two other popular on-demand mobility solutions, as well as the segment of all consumers in San Francisco, Scoot's current active market:
In the above chart, looking at the last 180 days, we see that Scoot customers (red bars) spend significantly more per customer at Whole Foods, Trader Joe's and Walgreens than the average customer (light blue bars), meaningfully more so than for Lyft and Uber riders.
It seems very plausible that a lot of folks are using Scoot to go shopping for daily necessities.
The presence of smaller, frequent purchases would support this theory. Looking at average transaction size, we do indeed see it is lower for Scoot customers, particularly at Walgreens and Whole Foods:
While the number of transactions per customer is much higher for Scoot customers:
Scoot lets people shop much more frequently. Each order is smaller -- whether due to increased frequency or the space constraints of a scooter -- but the net impact is a meaningful increase in overall spend (that Spend per Customer we looked at earlier).
It seems to us that an innovative retailer can leverage this dynamic to gain market share, for instance a partnership where the price of Scoot is deducted from your purchase at the grocery store - "Shop with us and Scoot home for free!".
Learn more about consumer spending analytics with TXN.