Despite lower brand relevance
E-bikes are unprecedentedly popular. In 2021, for the first time, more new e-bikes were sold than regular bikes, reported RTL News last week. Last year, 52 per cent of newly sold bicycles were e-bikes, which was 2 per cent less than the year before. The Consumer Behaviour Monitor also reveals the trend towards electric bicycles. Traditionally, e-bikes have been particularly popular among the elderly, but at present the mode of transport is gaining ground among young people. The Consumer Behaviour Monitor is an initiative of Validators and VU Amsterdam.
But how brand-aware are e-bike buyers? The monitor shows that people whose last mode of transport was an (electric) bicycle have a lower brand relevance (29%) than people whose last mode of transport was a car (40%). Conversely, sales sensitivity is higher among those who last bought a (pedelec) than among those who last bought a car (41% vs. 31%). This means that a brand for electric bicycles is even less relevant now, and it is sales that is important.
Marcel van Brenk, Partner at EY VODW: 'Traditionally, electric bikes were mainly sold to the more senior target group. With the shift to more youthful target groups, the importance of the brand is increasing. Despite the fact that this market is maturing rapidly, the cards have certainly not yet been shuffled in the branding arena.
No young people feel good about your brand
Possibly the category is in the early life cycle. With the growing popularity of pedelecs, the category will mature over time and brand will play a greater role. So should the marketer focus on price now to win customers, or already anticipate the future and invest in the brand? To be able to win the future battle, it is wise to start building your brand awareness and brand values now, in order to have a stronger position in the market later. Young people in particular find it much more important that the brand within the mobility sector makes them feel good. So building a brain position in the future is extremely important.
Do you also want free access to the Consumer Behaviour Monitor? Register here.
E-bikes are unprecedentedly popular. In 2021, for the first time, more new e-bikes were sold than regular bikes, reported RTL News last week. Last year, 52 per cent of newly sold bicycles were e-bikes, which was 2 per cent less than the year before. The Consumer Behaviour Monitor also reveals the trend towards electric bicycles. Traditionally, e-bikes have been particularly popular among the elderly, but at present the mode of transport is gaining ground among young people. The Consumer Behaviour Monitor is an initiative of Validators and VU Amsterdam.
But how brand-aware are e-bike buyers? The monitor shows that people whose last mode of transport was an (electric) bicycle have a lower brand relevance (29%) than people whose last mode of transport was a car (40%). Conversely, sales sensitivity is higher among those who last bought a (pedelec) than among those who last bought a car (41% vs. 31%). This means that a brand for electric bicycles is even less relevant now, and it is sales that is important.
Marcel van Brenk, Partner at EY VODW (pictured above centre): 'Traditionally, pedelecs were mainly sold to the more senior target group. With the shift to more youthful target groups, the importance of the brand is increasing. Despite the fact that this market is maturing rapidly, the cards have certainly not yet been shuffled in the brand area.
No young people feel good about your brand
Possibly the category is in the early life cycle. With the growing popularity of pedelecs, the category will mature over time and brand will play a greater role. So should the marketer focus on price now to win customers, or already anticipate the future and invest in the brand? To be able to win the future battle, it is wise to start building your brand awareness and brand values now, in order to have a stronger position in the market later. Young people in particular find it much more important that the brand within the mobility sector makes them feel good. So building a brain position in the future is extremely important.
Do you also want free access to the Consumer Behaviour Monitor? Then sign up here.