I had the good fortune to attend Interbike 2010, the only North American trade show for bicycles and such. I have been to many trade shows, including CES and National Retail Federation and the mother of them all, the Frankfurt Auto Show. I must say that this show had the least swag and not the most well-heeled crowd. But that is no surprise.
There are about 15-17million bicycles sold in the United States every year (about the same number as during the height of the US automobile market before the recession). But the whole category is only worth about $6.0Billion in total gross revenue. And it is highly fragmented (as the price of entry is extremely low). Over 70% of bicycles are sold in mass merchandiser outlets - - and they tend to be somewhat lower quality. The other 30% are sold in specialized and local bike stores and that is who this show is aimed at.
It was an eclectic crowd, lots of tatoos, ponytails, soul patches, and t-shirts. I may have been one of three people in a sport jacket. And it was not very ethnically diverse.
But there was a passionate vibe in the air. People who are into bicycles are REALLY into bicycles. Given the economics of the industry, you would have to be.
Which as a marketing professional leads me to my big discontent. I do not understand why no one in the category has invested in building their brand to a larger, broader consumer base.
The time is right, the demographics are right and all the trends are in place (not to mention that 50% of the US population is now living in urban i.e., city environs.)
And as I have said, there is nothing more powerful, more beautiful, more joyful than urban bicycling.
America is ready to discover this - - now there just needs to be a brand to take advantage of it.
The ability to blend capitalism with doing good is what the bicycle business can be about.
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