Adapt to changing consumer behaviour and transform your business with bike.rent Manager.
The American supply chain is drowning in excess inventory, leaving retailers struggling to make sales and bike enthusiasts scratching their heads.
The number of Americans riding bikes is at a twenty-year high! The post-pandemic data from PeopleForBikes and the National Sporting Goods Association is incredibly promising, showing significant increases in ridership across various categories.
"Despite an increase in ridership, consumers still aren't buying"
said Rick Vosper
The tried-and-tested strategy of pumping up sales and dumping excess stock is no longer effective in today’s market reality.
This is where a rental program comes into play! PeopleForBikes’ numbers indicate an overall 11% increase in total ridership.
BMX and riding on paved roads show remarkable gains of 23% and 12%, respectively. Even better, the National Sporting Goods Association reports 2022 as the best year for frequent cyclists since 2000, accompanied by a positive upswing in youth ridership.
Also, the pandemic prompted a surge in bike purchases, but many buyers may not be ready to invest in new bikes.
By leveraging the excess inventory and offering rental services, you can tap into the growing pool of enthusiastic riders who are not yet ready to make a new bike purchase.
This allows them to enjoy cycling without the commitment of ownership.
5 reasons why now is the perfect opportunity to start a bike rental program
1. Build customer loyalty and engagement.
2. Generate revenue from your excess inventory.
3. Introduce new riders to new disciplines and bikes.
4. Create a sustainable and profitable revenue stream.
5. Tap into the growing pool of enthusiastic riders who are not yet ready to purchase new bikes.
For more insights on the industry-wide inventory crisis, read Rick Vosper’s thought-provoking article: “Despite an Increase in Ridership, Consumers Still Aren’t Buying.”
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