The initial outcomes are promising with early testing of the new pricing strategy in February resulting in material improvement to contribution margin with only a marginal drop in trip volume across direct and partner channels.
Jayride Group Limited has released the results of its strategic and operational review, first announced in November 2023, led by Executive Chairman, Rod Cuthbert. A copy of the release is attached.
The Strategic Review has highlighted five outcomes:
- Significant Cost Reduction: 44% reduction in fixed costs whilst maintaining core capabilities for future growth
- Stricter Focus: Targeting higher margin, larger average order value segments and abandoning “anyone, anywhere”
- New Pricing Strategy: Moving to a “net plus” pricing model, avoiding highly commoditised segments, improving contribution margin per trip
- Improving Supplier Relationships: Working closely with transport partners to deliver technology and process improvements and improve net rates
- Operational Efficiency and Scale: Advancing opportunities to acquire operationally efficient businesses and scaling Jayride
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
