May 15 (Reuters) - Uber Technologies ( UBER ) is

introducing a shuttle service in the U.S. and widening a

delivery tie-up with membership-only retailer Costco as part of

a series of initiatives unveiled on Wednesday to attract

price-conscious consumers amid competition from rival Lyft ( LYFT )

.

The initiatives were unveiled at the company's GO-GET annual

event for new products and are meant to maintain growth at the

ride-share and delivery giant after a strong 2023 that saw it

reporting its first-ever annual profit.

The San Francisco, California-based company said it will

allow Uber Shuttle users to reserve seats in advance on buses

operating in high-traffic areas like airports, concerts, and

sports events.

The company said it will also allow users to schedule

shared rides and announced a student discount on its Uber One

membership.

On the food delivery front, it said it will offer Costco

members in the U.S. ordering through Uber Eats

additional discounts on their orders and a standing offer for

20% off on the annual Uber One plan.

While Lyft ( LYFT ) doesn't provide shuttle services like Uber ( UBER ), it

offers a Transit mode feature, enabling users to access

schedules of nearby shuttles, trains, and ferries through its

app.

In recent months, Lyft ( LYFT ) has intensified competition with

Uber ( UBER ), eliminating surge pricing amid a resurgence in ride-share

demand driven by employees returning to offices and holiday

travel.

Analysts suggest that the North American market might be

nearing maturity, prompting both companies to seek new avenues

of growth, such as advertising and subscription services.

Fares of UberX and Lyft Standard ride-sharing products have

largely remained unchanged over the past two years, according to

market research firm YipitData.