On August 14th, Xanh SM Bike entered the tech-based motorcycle taxi market, aiming to spread the message of eco-friendly living to the community by exclusively using electric motorcycles. They plan to expand their operations across six provinces and cities, with a target of scaling up to 90,000 motorcycles by 2023. This is not the first time that the market has seen a ride-hailing service using electric bikes. Prior to Xanh SM Bike, companies like Grab, Gojek, and Baemin had collaborated with Đạt Bike, employing electric motorcycles for their services.
So, with the electric vehicle – environmental protection factor no longer being too captivating or novel, what are consumers concerned about?
Let’s explore the social media discussions about the newcomer, Xanh SM Bike, to find out what consumers are truly interested in at this moment.
From August 1st to October 1st, Kompa’s Social Listening system recorded 41,010 discussions related to Xanh SM Bike across various social media platforms and news websites, receiving over 175,000 interactions. TikTok and Facebook are the primary channels for these discussions, with TikTok accounting for 52.79% and Facebook for 42.45% of the discussion market share. Comparatively, when Taxi Xanh SM was introduced, there were more discussions about it, with 151,499 conversations.
Notably, the community’s emotional sentiment about this tech-based ride-hailing service with a fleet of premium electric motorcycles only reaches a level slightly above 60%. The main reason is the substantial percentage (4.61%) of negative discussions. Negative discussions primarily revolve around the topic of pricing, making up 27.04% of the discussion themes. Many users find Xanh SM Bike’s prices to be relatively high, with a fare of 13,800 VND for the first 2 kilometers and 4,800 VND for each subsequent kilometer. In the Facebook group “Cộng Đồng Tài Xế Xanh SM Bike (Chính Thức),” a member compared the fare of a ride with Grab and Xanh SM Bike. The result showed that for the same distance, Xanh SM Bike was more expensive, costing 35,000 VND more than Grab, with Grab being 155,000 VND and Xanh SM Bike being 190,000 VND.
Besides price-related discussions, users are still pondering the differences between Xanh SM Bike and other companies. Conversations comparing the service with other brands account for 24.62%. Next in line are discussions about service quality and app-based promotions, with ratios of 12.78% and 9.25%, respectively. Xanh SM Bike’s partner drivers are also concerned about their income, with discussions on this topic making up 12.04%.
From the data, it’s evident that as electric vehicles are no longer a novel concept for consumers, factors such as pricing, service quality differentiation, and promotions will take center stage and become the primary concerns for users in the competitive ride-hailing market.
In the fiercely competitive market among numerous tech-based ride-hailing services, how will Xanh SM Bike, a Vietnamese brand, attract new users and convert users from its competitors? Let’s observe and await to see the direction that Xanh SM Bike takes.