Traffic data point to stronger finish for Amazon, Booking and Uber
December web and app engagement figures suggest momentum picked up into the final quarter for several large internet groups, beating expectations in ecommerce, travel and delivery, while Lyft lagged peers as user growth slowed.
Online traffic data for December point to a firmer finish to the year for several large internet groups, with Amazon, Booking Holdings and Uber showing improving engagement trends, while Lyft lagged peers, according to a monthly review by Wedbush Securities.
The analysis, based on Similarweb data covering web visits and mobile app usage, suggests that momentum into the final quarter was stronger than consensus expectations for a number of companies, particularly in ecommerce, online travel and delivery. Wedbush said year-on-year web traffic trends were “mostly positive” across its coverage in the fourth quarter, with notable acceleration at several large platforms.
Amazon showed a clear improvement in engagement late in the year. Web traffic rose 4% year on year in the fourth quarter, an acceleration of roughly 460 basis points from the previous quarter, while app monthly active users grew 4%, up from 3% in the third quarter. On a two-year stacked basis, both web and app growth also improved. Wedbush said the data was “trending favourably” relative to Street forecasts, which had assumed a sequential slowdown in online store sales growth.
Booking Holdings also finished the year with stronger traffic trends. Consolidated web visits rose 9% year on year in the fourth quarter, up sharply from 2% growth in the prior quarter. Wedbush highlighted sequential improvements across Booking.com, Priceline and Kayak, while consolidated app monthly active user growth also ticked higher. The firm said the observed trends were positive compared with expectations for a slowdown in room night growth.
In delivery and mobility, Uber’s engagement data also strengthened. Web traffic to Uber Eats rose 17% year on year in the quarter, accelerating from the third quarter, while Uber Eats app monthly active users increased 7%, an improvement of around 670 basis points. Usage of the core Uber app also grew faster, reaching 9 per cent year-on-year growth in the fourth quarter. Wedbush said results in the period were tracking ahead of estimates, which had assumed a deceleration in delivery gross bookings growth.
DoorDash was another bright spot, with web traffic growth accelerating sharply and app usage rising strongly, though Wedbush noted some moderation in growth at its Wolt brand. In contrast, Instacart showed mixed signals, with web traffic improving but longer-term app growth slowing on a two-year basis.
Lyft stood out as the weakest performer in the group. App monthly active user growth slowed to 7% year on year in the fourth quarter, a deceleration of about 400 basis points from the previous quarter. Wedbush said engagement trends for Lyft were weak relative to expectations, which had assumed an acceleration in gross bookings growth.
Overall, the traffic data points to a widening gap between platforms benefiting from scale and breadth, and those struggling to sustain user momentum as competition intensifies.
