2022 – TECH PREDICTIONS
Hope you all had as happy a New Year as possible…in the circumstances. 2022 is the Year of the Tiger in the Chinese Zodiac, a determined yet sometimes too impulsive an animal. So the grit
to navigate the opportunities and
challenges our industry faces but in a considered way sums up what we’ll need this year, given it’s tough to guess even what next month will look like! Indeed, minicabit, as Britain’s largest cab aggregator, hit its highest booking revenue day ever (even pre-Covid) last November, evidence of this unpredictable new normal.
In the past, technology was seen as the disrupter in the cab industry, generating new trends such as on demand availability and tracking of drivers, leading the industry’s pace of change. But now Covid has obviously been our main disrupter with technology following the pace of change.
Perhaps this new disruption’s biggest trend is the current industry shortage of drivers. With social media now seen as a key channel to attracting drivers, technology could also have a role to play in retaining them. Managing drivers’ increased expectations of flexible availability and efficient dispatch to reduce downtime between jobs should drive those smaller cab fleets who previously managed without a dispatch system to now adopt one.
Now with faster payment terms and the possible changes for how VAT is treated on cab fares, utilising more sophisticated accounting/payments systems to administer driver payments such as Xero, FreeAgent could be the norm. (However despite the increased noise last year around new forms of online payments i.e. ‘cryptocurrency’, I doubt drivers will be paid in the likes of Bitcoin anytime soon!).
The other big trend established through the lockdowns was the popularity of delivery services, whether for food, groceries or parcels. Perhaps there was uncertainty if demand would continue beyond the lockdowns but cab operators in many regions are indicating to us that it’s evolved into a steady, additional income stream where they can manage a small fleet of ex- or even non-cab drivers, adding alternative vehicles (cargo vans, cargo bikes and e-scooters) to their portfolio. minicabit is following suit, enabling its cab operators UK-wide to take on delivery work, optimised to fit in between passenger jobs.
Another major trend will be the switch to electric vehicle (EV) cabs. When transport and hence its carbons emissions were greatly reduced by the lockdowns in 2020, the focus since has been on a ‘green recovery’, spotlighted by the COP26 environmental summit in November last year. For the cab sector, that means private hire fleets switching to EVs, especially since petrol/diesel (non-hybrid) cars will cease to be sold in just nine years’ time. This switch was a
10
consideration fur- ther down the priority list for most fleets…until the UK experi- enced a fuel shortage crisis last September! This vividly brought home the benefits of making the switch sooner rather than later, especially with fuel prices moving up.
The key concerns historically holding back fleets from switching to EVs have been the regional availability of public charging points, their incompatible payment systems and above all, a narrow range of EV models suited for private hire work. All of these issues will be much better, though not completely, addressed in 2022. Supermarkets, rail stations, petrol stations and other sites will increasingly offer charging points (supported by government initiatives) - crucially all the major car manufacturers are announcing EV models in all categories and also at lower price points, to launch from this year.
With Addison Lee and Uber each promising their entire fleets in London to be fully electric by 2023 and 2025 respectively, even the smallest fleet will be able to take its first steps in switching to EVs this year. No doubt this will also become an increasing expectation of business accounts that need to reduce their corporate carbon footprint from now. In anticipation of this, minicabit will aid cab fleets of all sizes UK-wide to make the switch with a range of online tools that can help them determine the return on investing in adopting EVs.
Last but certainly not least, online aggregators will be an even greater channel for cab fleets wanting to take on more predictable work to retain their hard won drivers, rather than the upfront costs and uncertain effectiveness of running advertising media. The sectors for planes and trains long ago embraced aggregators as a core part of their demand mix, automobiles should not be left behind.
Here’s to a great 2022! Article supplied by:
Amer Hasan, CEO of minicabit, the UK’s largest cab comparison website
minicabit.com
JANUARY 2022
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