Lyft, a ride sharing app known for being purely digital, announced this week that it would be launching a partnership with Starbucks. Starbucks? What do a coffee company and a ride sharing company have in common you might ask? Well, Lyft is now selling $20 physical gift cards at Starbucks and it comes with an incentive. When you purchase a Lyft card, you receive a $5 Starbucks Gift Card. Soon you will also be able to earn Starbucks reward stars by riding Lyft!
This is an amazing business tactic for Lyft since they have been struggling to keep up with their biggest competitor, Uber. Uber is still dominating the ride share industry consumers, myself included, more than likely choose Uber over Lyft despite Uber’s reputation of having really creepy drivers. Uber has done a great job at marketing itself as exclusive and a cool brand. Lyft has struggled and with this partnership, it hopes to read a broader audience.
Starbuck gift cards have been very successful at creating more revenue. People love to collect and give limited edition gift cards. Lyft is hoping that with the exposure to Starbucks customers. They will be able to gain some market share. Ride Sharing has become a very popular service market, giving us options especially those who live in cities where public transportation isn’t as reliable as it should be.
Would you buy Lyft gift cards for your friends, colleagues, loved ones?