It’s 2024, the cycle industry has come a long way. It has had its share of ups and downs before finally taking off in the past few decades. From manufacturing steel roadster bicycles and children’s bicycles to designing premium bicycles, India’s cycle industry has witnessed growth in phases.
In terms of growth, Indian bicycle companies are substantially increasing their exports as they have gained access to marketing and selling channels abroad. Needless to say, many brands and bicycle manufacturers are trying to make the cut and emerge as top sellers in the Indian market.
But what makes a difference? Not every brand is able to grab large market shares. Only a few are consistent in their approach and survive a market as stiff as India’s or other European countries. For a brand to really explore its potential, it is essential for the entity to deep dive into areas that aren’t very common and cater to a niche market.
At the same time, it is also important to retain the existing customer by staying relevant to their needs and requirements. What can distinguish a company from its competitors is to remain different yet relatable and upgraded within the market. Another factor which largely determines the success rate in the country is its ability to penetrate international markets and stay afloat, irrespective of the challenges. From setting the cost strategically to positioning the brand as a leader in sustainability and affordability, a bicycle manufacturer has brought a unique proposition to the Indian cycling market.
CMD
Avon Cycles
Onkar Singh Pahwa, CMD of Avon Cycles Ltd., shares his valuable experience, “Staying relevant to customer needs, embracing innovation, and exploring international markets are pivotal for success in the cycling industry. Maintaining a balance between differentiation and relatability ensures a unique proposition in the dynamic market.”
Another major challenge that continues to overwhelm brands is engaging customers and increasing brand loyalty. One factor which has essentially attracted more customers is the newness and continuous development of products. Additionally, brands also need to stay committed to their cause without frequent changes in the quality of their products. Once the process begins, it won’t be long before customers swear by every product from a brand and stay committed to the brand for life.
The market is unpredictable, and so is the audience. In order for a company to remain relevant, it is essential to be innovative and creative with its products. Over the years, a few technological innovations that have revolutionised cycling include lightweight frames, electronic shifting, disc brakes, suspension systems, GPS, and many others.
Mandeep Pahwa, Executive Director, said, “In the evolution of the domestic market, the focus lies on producing locally while exporting globally, enabling products to shine on a global level. Community building, customer-centricity, and the relentless pursuit of excellence with world-class products are prioritised. This philosophy has served as the cornerstone of success in India.”
There is a need to understand the niche audience, their choices, their age, and, at the same time, what they are looking for in the specific product. This holds true for every industry, especially the cycling industry, which has numerous technological innovations being done every day.
In conclusion, for a brand to remain relevant, it must introduce new innovations, customise, research customers’ tastes and preferences, and innovate per market demand. Lastly, to make a brand stand out in the industry, it is essential for every aspect of the activity to be explored and redefined as per the ever-evolving world of bicycle technology.
