How A Monopoly in The Financial Loan Industry Can Hurt You

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Post by: EG
Time 23:53 on 14/06/2018
Location: All Singapore
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How A Monopoly in The Financial Loan Industry Can Hurt You
Monopolies happens in many ways — striking a deal with government, using unfair practices to shut down competitors or even through consolidating market shares.

While some monopolies are necessary to lower costs for consumers, most of them are not. Once a company gains majority market share, they can often use that power to fix prices or negotiate for unfair deals with smaller vendors.

Learning from The Grab-Uber Merger
The merger was big news for the private car hire market in Asia, but this is not Uber’s first merger with their competitor. It happened in China too. One year after Uber sold their business to Didi, both drivers and passengers are unhappy.

Passengers now find it more expensive and difficult to hail a cab because incentives for drivers have been cut, which resulted in lesser cabs on the road.

And just a few months after the merger here in Singapore, consumers are feeling the same pinch.

“Now, it’s been more than two weeks and I haven’t received other promotions. It used to be weekly promos without fail,” said Ms Joseph, who has reached the highest member status of Platinum.

Although Grab also said that they have been gradually shifting to the GrabRewards system which allows passengers to earn points to redeem one-off promo code.

But it takes so long to even redeem the cheapest $5 promo, that it no longer makes sense for a lot of riders to take Grab as regularly as before.

This then directly impacted the drivers too. Due to the increase in fleet numbers for Grab and lesser incentives for passengers, drivers found themselves waiting more to pick up their next passenger.

Click on Financial Loan or https://applypersonalloans.sg/monopoly-financial-loan-industry-can-hurt/ for detail.
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