As people search for ways to reduce their carbon footprint and get some exercise at the same time, the target market for electric bikes is growing.
For people who like to bike but need an extra boost from time to time, electric bikes can be the perfect solution. Likewise, for older people who want to stay active but may not be able to bike long distances, electric bikes can help them keep up with their friends and family.
Electric bikes have a motor and battery that provide power to the bike, making it easier to pedal uphill.
But who’s buying electric bikes, and why?
In this article, we will take a look at this market and discuss some of the reasons why people are choosing to buy them.
Who is the Target Market for Electric Bikes?
One of the largest disruptions to the market for bicycles is the growth in the demand for electric bikes.
The popularity of electric bikes can be attributed to a number of factors, but most of all to people looking to ditch their cars and instead use bikes or a combination of bikes and public transport for their daily commute.
This is making electric bikes of the fastest growing segments of the bicycle market. We can divide this market into the following key segments:
- Commuters looking for a convenient (but easy) way to get to work and back
- People who want to ditch their cars to reduce carbon emissions (and lower their gasoline bill)
- People who would like to bike to get some exercise (but don’t mind some electric help)
- Seniors and retirees looking for an easy and fun way to get around
- Bicycle rentals who rent out bikes to commuters, tourists, etc.
Let’s now look closely at each of these electric bike market segments.
#1. Commuters looking for a convenient (but easy) way to get to work and back
Electric bikes have become a popular choice for commuters, as they provide a way to get to work that is environmentally friendly and doesn’t require dealing with traffic.
For many people, electric bikes are the perfect solution because they can be used for part of the commute (say, from the train station to the office) and then folded up and taken inside.
Electric bikes are also a good choice for people who want to avoid traffic but don’t mind getting a little exercise. This makes commuters a prime target market for electric bikes.
#2. People who want to ditch their cars to reduce carbon emissions (and lower their gasoline bill)
Another target market for electric bikes includes people who want to get rid of their car (or at least use it less) to reduce their carbon footprint.
Electric bikes provide an environmentally friendly way to get around, and can often be used in combination with public transportation (such as taking the bus or train part of the way and then biking the rest).
Using an electric bike instead of a car can also be beneficial for people’s wallets, as they will likely have to pay less for gas and car maintenance.
#3. People who would like to bike to get some exercise (but don’t mind some electric help)
Electric bikes can also be a good choice for people who want to get some exercise but don’t mind getting a little help from a motor.
Electric bikes can operate as normal bikes, so people can get the exercise they want, but the motor can be used to give a boost when needed. This is ideal for people who live in hilly areas or who want to bike over longer distances.
Using an electric bike can also be a good way for people to get started with biking, as it may make it seem less daunting.
Once people get used to biking with a motor, they may be more likely to bike without it.
This target market segment is also good for companies selling electric bikes, as it provides a way for customers to upgrade their bikes as their needs change.
For example, a customer who starts out biking with a motor may eventually want to buy a bike without one.
#4. Seniors and retirees looking for an easy and fun way to get around
Seniors and retirees often find electric bikes to be a good choice, as they provide an easy and fun way to get around.
Electric bikes can be used without the motor for exercise, or with the motor for a more leisurely ride. This makes them ideal for people who want to stay active but may not be able to do so with a regular bike.
Electric bikes can also be a good choice for seniors and retirees who want to socialize, as they can be used to go on group rides or to meet up with friends.
Renting electric bikes can also be a good option for seniors and retirees who want to try them out before buying one.
#5. Bicycle rentals who rent out bikes to commuters, tourists, etc.
Bicycle rentals are another target market for electric bikes, as they can be used by commuters, tourists, and others.
Many bike rental businesses offer electric bikes, as they become more popular with customers.
Renting electric bikes can be a good way for people to try them out before buying one, and it can also be a good way for rental businesses to make some extra money.
Bike rental businesses can also offer electric bikes as an option for people who want to bike but don’t have their own bike.
This can be especially beneficial for tourists who want to bike but don’t want to or cannot bring their own bike with them.
Conclusion
The growing target market for electric bikes includes commuters, people who want to reduce their carbon emissions and fuel bill, seniors, retirees, and bike rental businesses.
Each of these markets looks for different things in an electric bike but they all like to have the best of both worlds: biking for exercise when they want to and biking with ease (thanks to the electric motor) when they’d like to take a break.
