Lyft introduces “Happy Hour” to cut prices during slower periods

Gigaom

Lyft Happy Hour Ridesharing company Lyft is deploying a new strategy to draw users away from competitors and into its own cars by offering discounts to riders at off-peak times. The new program, called “Lyft Happy Hour,” offers  discounts of 10 to 50 percent for riders at certain times.

The change comes at a time when high fares through surge pricing — done both by Uber and Lyft — has drawn ire among customers. While both companies maintain that surge pricing is tied to driver demand, talk of encouraging surge pricing to jack up fares for drivers hasn’t done any favors to sway consumers.

The goal of Happy Hour, which can be activated with the latest Lyft update, is to encourage more riders to engage with the service for small trips throughout the day, particularly during times when drivers are hunting for fares. It’s a theoretical benefit to drivers as well: Lyft is…

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