Cycling: Business, Trends and Opportunities
Opportunity India Desk
Jul 20, 2021 -
4 min read
We’ve just been through one of the foremost devastating pandemics within the history of humankind and have just begun compensating for the losses of the past one and half years. People from various occupations and industries started going on their work. Most of the offices allowed jabbed employees to work from the office. Industries have started getting back to their position both professionally and financially. Another drastic change has that has been noticed after lockdown is people have started going to the office with cycle during this time. The number of cyclists has increased enormously. The demand for good quality cycles and accessories is also increased. This made people consider doing business in this field for conquering subsequent market needs.
However this sound complicated that people are moving toward cycles instead of motorbikes or cars, but the reason is quite simple. People in most of the tier I cities preferred cycles over bikes due to fuel price hikes and inflation in motorbikes prices. There are some more general reasons listed below:
To avoid traffic problems in metro cities.
1. The high availability of cheap and value cycles made customers go for it. One can get 4-5 cycles for the price of 1 motorbike.
2. Hikes in fuel prices are additionally a humongous reason.
3. Gyms and fitness centres were closed and cycling acted as a boon for health-conscious people.
4. People having an office in few kilometre radiuses mostly accompany cycling.
5. Low availability of public transports.
Cycling has become a neat and trendy way to commute to a job or school. But many of us do not realize that it is also a pleasant way to stay healthy. A daily ride will offer you a crucial amount of cardiovascular exercise - the pace is just too slow for any workout beyond your legs. But a 20-30 minute ride once or twice every week can add up to tons of additional exercise levels for the body - and may prevent you from Developing a Persistent heart condition (poverty-related risk factor). People do use cycling as a way of transport but some people stood out of the crowd and introduced cycling as a sport. Accessories and gears came high in demand which created a replacement segment for cyclists within the market. More and more people are jumping on board and creating their own cycling clubs, tours and tours supporting professional races. More people realise its health benefits, environmental friendliness and financial viability. This is often because the price of cycles is now falling consistently, as compared to other transport options. It’s also likely to be an increasingly popular sport due to its relationship with town planning, environmental and social responsibility issues.
The growing cycling craze also allowed big brands to enter and make a profit out of it. If you check out large brands and their behaviour at this specific time you'll notice they're always adapting. The brands launched various products as per market needs. Brands that used to sell just one or two products stated the buyer needs and launched many products in the kids, girls and men section. The cycling industry today became more consumer-friendly and user-friendly as compared to previous years. Large brands try more innovative things to capture the buyer interest the in maximum amount possible. One of the newest innovations that have caught the eye of consumers is that the tokenization of payments with credit cards. This makes it possible for users to form payments without having to hold around cash or having it exist purely as an aggregator of bills. It’s a learned behaviour that they acquired over years of doing business. And this behaviour helps them stay before the curve and stay relevant in today's market. Big brands don't just change their products or service offerings - they also change their market positioning, their culture and their messaging to suit their consumers.
As per the ongoing cycling market trend, there are numerous opportunities and you don’t have to be a pro to find some. You will be able to find business opportunities at the moment as the cycling market are thriving. You may opt to start a cycling shop, rent a Cycle They provide a unique environment for engaging customers and helping them purchase cycle touring, consultation services or a test ride at a much lower price point than normal retail stores. You can engage the consumer on cycling related products at an affordable price as well through social media. The brand also sometimes helps and train people to get their distributorship. You can start an online store by selling cycling related products and services. You can increase the size of your local cycling community by running instructor courses. You can promote cycling as part of your health regimen, participate in charity rides and events, or just enjoy it as something fun to do on your off time. All of these things count as part of your on-the-go business opportunity.
