Tech disruption is increasingly showing up on expense reports.
For the first time, Lyft has become one of the Top 10 most frequently expensed U.S. business costs this quarter, according to new data from online travel and expense software company Certify. At No. 6, Lyft joins Uber and Amazon, which have been climbing the ranks since first appearing in the Top 10 three years ago. Both Uber and Amazon’s numbers include their food delivery businesses.
Lyft makes now up 3 percent of all U.S. business expenses, while Uber represents 11 percent and Amazon 4 percent. That’s up from next to nothing a few years ago.
This growth in usage reflects changing corporate travel trends, and has enabled tech companies to take an increasingly large bite out of the world’s $1.4 trillion business travel industry.
Naturally, the ascent of these tech companies has pushed other companies out.
Uber has grown to 73 percent of all ride-hail expenses (Uber Eats is not included here), while Lyft is 20 percent and taxis represent 7 percent (this market share doesn’t include other rides-share players, so the true percentage would be a bit smaller). Just four years ago, taxi rides made up 74 percent — about the same as Uber now — of all ride-hailing receipts. The average Uber or Lyft expense is around $25.
Other related industries, like rental cars, have also felt competition from ride-hailing apps.
Amazon’s rise on expense reports hasn’t pushed out its biggest competitor, Walmart, which has managed to maintain its place for the most part on the Top 10. The average Amazon expense, however is $110, nearly double the $56 spent at Walmart. And what are people buying from Amazon? Everything from business supplies to cloud computing to food delivery.