According to his CEO, your journey to the airport or the Friday evening dinner could cost less if an economic slowdown arrives, according to his CEO.
If the economy enters a recession, more people could register to drive and deliver to Uber, Dara Khosrowshahi said on Friday.
“If there is more unemployment, the cost of Uber will drop, because, to a certain extent, the cost of labor drops,” Khosrowshahi said during the Semaor World Economy Summit in Washington, DC
Khosrowshahi said that Uber tends to be “resistant to recession” because many people still want races, delivery of restaurants, city walks and other “daily use cases” – even if they reduce expenses in other regions.
“You can go back on vacation in Europe this summer, but you will always offer your family a good dinner,” he said. “We specialize in small treats, not big treats.”
Consumers have turned to said little treats when the economy – and their income – has deteriorated in the past.
Sales of lipsticks, for example, increased during the 2001 recession, while some buyers considered makeup as an affordable luxury when they avoided greater purchases.
Economists, executives and others fear that a recession can be triggered this year by President Donald Trump’s prices.
Many consumer retailers have declared that they would pass the costs of prices to buyers, which would result in higher prices on store shelves and online after years of post-payic inflation.
While buyers fell spending in many areas last year, many continued to pay for what they bought delivered through services such as Doordash, Instacart and Uber Eats, profits at the time showed.
Doing work on Uber and other concert applications may not be so easy for relaxed workers and others in a recession.
Current concert workers have told Business Insider that many applications are already saturated with people who seek to demand work, and that some even have waiting lists for potential independent entrepreneurs.
Do you have a story to share on Uber or other concert work applications? Contact this journalist at abitter@insider.com or 808-854-4501.
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