Rising living costs. Three words that are top of mind for all Australians.
With growing interest rates and media attention around inflation, today’s economic pressures are unavoidable for every consumer and business. As a result, the need to rethink our transport strategies and offer value to customers has become more important than ever.
Understanding commuter trends
Work-life balance has shifted greatly, leading to new ways of commuting. The traditional five-day work week has mostly disappeared, with 70% of people travelling to the CBD only one to three times per week.[1] This is a clear sign of our evolving environment. And when we factor in the growing demand for affordability, clear trends emerge.
Drivers are wary of rising fuel and parking prices
Unease around spending and financial pressure is making commuters more aware of how much their travel habits cost. In fact, 67% of potential customers avoid driving to work due to the perceived price of parking.[1] While 40% don’t get behind the wheel because of increasing fuel costs.[1] These numbers reflect a major roadblock when it comes to driving to the office.
Convenience and adaptability are key
The car provides unparalleled convenience and adaptability, which is perfect for an era of fluid work schedules. With personal transport, individuals and ‘Jugglers’ have greater control throughout their day. Tasks like dropping kids at school before work or doing the supermarket shop on the way home become far more manageable. This flexibility is often lacking with public transport and other options.
Finding ways to add more value
It’s within this changing landscape that car park operators have a unique opportunity to provide value to customers. This is possible thanks to innovative parking apps that meet the evolving needs of people who are becoming increasingly cost-conscious. Here’s how the technology delivers on this promise:
Special in-app pricing
Digital parking apps open up new avenues of cost savings. Users can benefit from special in-app pricing, which makes parking more affordable when pre-purchased. These tailored offers are designed to boost engagement, with savings that add up over the long run. This affordability also extends to peak times, as online prices can make parking in premium locations during busy periods less expensive.
Loyalty perks and rewards
Another way to reward frequent drivers and provide ongoing value is through loyalty programs. Regular app users can enjoy a range of advantages, such as discounted rates, or benefits based on frequency of parking. This not only encourages consistent use of apps but also means that the more someone parks, the more they save.
Fuel cost collaborations
Along with parking solutions, collaborations and partnerships can offer savings in other areas of commuting. This holistic approach to value means drivers can benefit from further savings linked to their commute. Wilson Parking’s collaboration with 7-Eleven is a great example of this, providing customers with fuel discounts when they prepay through the Wilson Parking App.
Bundle services
Parking apps can offer bundled services. For instance, users who purchase a set number of passes in one transaction can receive a discount. This also locks in a set price, as parking costs can fluctuate depending on demand. These value-adds can save drivers money and provide convenience, enhancing the overall commuting experience while also presenting further opportunities for cost savings.
These initiatives show how parking operators can use technology to make daily commuting more affordable, especially as the cost of living increases. By providing value in smart ways, innovative platforms offer a new path to navigate today’s economic pressures.
[1] Wilson Parking Household Survey 2023
