RedBus, a leading online bus ticketing platform, is setting ambitious goals for 2025 following a robust post-pandemic recovery. The company has experienced a steady 25% increase in revenue over the past year and is now focusing on expansion both in its current markets and internationally.
Prakash Sangam, CEO of RedBus, noted the positive trends in the industry, with bus occupancy rates surpassing 77% and a significant rise in the use of online platforms for bus bookings. “We’re witnessing a surge well over 20% in people choosing RedBus for their travel needs,” Sangam stated.
In the coming year, RedBus aims to increase its bus listings by 15%, primarily through partnerships with private operators. This strategy builds on the 10% increase achieved in 2023. The expansion will cater to a range of budgets and travel preferences, from AC seater buses to luxurious sleeper coaches, with a focus on enhancing service availability in tier-2 and tier-3 cities in India.
Looking beyond its established markets in India and Southeast Asia, RedBus plans to increase its international revenue contribution from 11% to 15%. The company will leverage its strong presence in countries like Malaysia and Singapore, and its recent expansions into Cambodia and Vietnam. Strategies that have been successful in Southeast Asia, such as competitive pricing, a user-friendly booking process, and value-added services like travel insurance and loyalty programs, will be adapted for these new markets.
Additionally, RedBus intends to form partnerships with non-banking financial companies (NBFCs) to offer microfinancing solutions to bus operators. This initiative aims to support operators with financing for unexpected repairs or permit renewals, thereby facilitating smoother operations and potential fleet expansion.
With these strategic moves, RedBus is poised to enhance its service offerings and extend its market reach globally, ensuring sustained growth and a broader customer base.