Uber Technologies is introducing a shuttle service in the U.S. and widening a delivery tie-up with membership-only retailer Costco as part of a series of initiatives unveiled on Wednesday to attract price-conscious consumers amid competition from rival Lyft . The initiatives were unveiled at the company's GO-GET annual event for new products and are meant to maintain growth at the ride-share and delivery giant after a strong 2023 that saw it reporting its first-ever annual profit. The San Francisco, California-based company said it will allow Uber Shuttle users to reserve up to five seats in advance on buses operating in high-traffic areas like airports, concerts, and sports events.
(Reuters) -Uber Technologies is introducing a shuttle service in the U.S. and widening a delivery tie-up with membership-only retailer Costco as part of a series of initiatives unveiled on Wednesday to attract price-conscious consumers amid competition from rival Lyft. The initiatives were unveiled at the company's GO-GET annual event for new products and are meant to maintain growth at the ride-share and delivery giant after a strong 2023 that saw it reporting its first-ever annual profit. The San Francisco, California-based company said it will allow Uber Shuttle users to reserve up to five seats in advance on buses operating in high-traffic areas like airports, concerts, and sports events.
Retail bellwethers such as Lowe's (LOW), Costco (COST) and Walmart (WMT) possess a winning combination of established market positions, strong brand recognition and loyal customer bases.