Lectric has sold 20k+ bikes in a year, who's sold more?

[sed6]

Just like the title says, Lectric sales are over 20k units in 12 months, has ANY bike manufacture sold that many of ANY bike? Has Trek or Cannondale or Schwinn even sold 20k bikes of any model in the last 12 months? Inquiring minds want to know.

 

[BigNerd]

I've posted similar notions about Lectric before when others have brought up how successful other D2C brands have been this last year.

But I don't think anyone has sold that many units... especially their first year of business.

 

[AHicks]

It would be interesting knowing how RAD numbers compared to that.

Not sure I believe anyone spouting about their own number though. MUCH more believable when coming from an outside source.

 

[hkat]

Right place Right time Right pandemic for Lectric.

Going forward it does seem like there will always be a place for low prices Direct to Consumer ebike companies like Rad and Lectric going forward for the price concious and 1st time bike buyer.

 

[AHicks]

YUP! Even a low priced/economy bike is a GIANT leap of faith for somebody new. Big concern over how much use it will get is easy to understand. Little do they know how much of a game changer they can be...

 

[FlatSix911]

Here is some recent data from the Bicycle Retailer (US)... Lectric did not make the list.

Vosper: The e-bike brand map is shifting

It's amazing how much has changed in just one year.

www.bicycleretailer.com

Five market-leading e-bike brands
According to Benjamin, the five leading e-bike brands (in no particular order) are Rad Power, Pedego, Trek, Specialized, and the Alta Group — Raleigh, IZIP, et al. These five collectively enjoy about 70% of the total e-bike market in 2020. (The reason for including all Alta brands as one is simply because that's the way the import documents are labeled; no further breakdown is possible.)

Breaking it down even further, Benjamin agrees the market falls into three basic price-driven categories.

• The bottom price niche is consumer-direct sales through Amazon, for well under $1,000, he says. "But these bikes are usually unsatisfying."
• Moving up from there is the price point of approximately $1,500 to $2,500.
• Above $2,500, and stretching all the way up to $10,000 or more, is where the majority of IBD brands play...but not all, as we shall see.

D2C - Direct to Consumer direct e-bike specialists
EBD - Brick and mortar E-Bike specialist Dealers
IBD - Brick and mortar Independent Bike Dealers

 

[hkat]

who knows if lectric will even be around in a couple of years. Regardless of whether they made that list or not, the founders have probably made enough money in the past 6 months to retire and not work another day in their lives.

 

[arcom]

20k.....really?

 

[Art Deco]

Here is some recent data from the Bicycle Retailer (US)... Lectric did not make the list.

Vosper: The e-bike brand map is shifting

It's amazing how much has changed in just one year.

www.bicycleretailer.com

Five market-leading e-bike brands
According to Benjamin, the five leading e-bike brands (in no particular order) are Rad Power, Pedego, Trek, Specialized, and the Alta Group — Raleigh, IZIP, et al. These five collectively enjoy about 70% of the total e-bike market in 2020. (The reason for including all Alta brands as one is simply because that's the way the import documents are labeled; no further breakdown is possible.)

Breaking it down even further, Benjamin agrees the market falls into three basic price-driven categories.

• The bottom price niche is consumer-direct sales through Amazon, for well under $1,000, he says. "But these bikes are usually unsatisfying."
• Moving up from there is the price point of approximately $1,500 to $2,500.
• Above $2,500, and stretching all the way up to $10,000 or more, is where the majority of IBD brands play...but not all, as we shall see.

D2C - Direct to Consumer direct e-bike specialists
EBD - Brick and mortar E-Bike specialist Dealers
IBD - Brick and mortar Independent Bike Dealers

I don't see Giant or Electra or Magnum on the list either and they all sold a lot more bikes through dealers than most DTC companies will ever sell. 2 cents.

 

[FlatSix911]

I don't see Giant or Electra or Magnum on the list either and they all sold a lot more bikes through dealers than most DTC companies will ever sell. 2 cents.

Keep in mind this is just the US market... the IBD Tier-One top four brands are Trek, Specialized, Giant, and Cannondale.

Vosper: Dealer count 2020

A deeper dive into the new dealer numbers reveals some interesting truths about brands, dealer populations and the industry's shifting balance of power.

www.bicycleretailer.com

 

[sed6]

20k.....really?

Probably closer to 25k, but that's a guess. Either way that's about 5% of the projected 400k ebike sales in 2020. That's a decent share of any market!

 

[Ravi Kempaiah]

It reminds me of Mark Cuban's quote,

" Everybody is a genius in a bull market"

So, the whole E-bike market is seeing exponential growth and it is easy to sell but a better metric of performance and growth would be longevity and customer happiness over the years.
How long they are in business ?
how's their customer acquisition cost?
how's their longevity ?
Have their weathered some tough times and come out ahead?

This applies to every company I believe. Having said all that, I have to credit Lectric XP for doing amazing marketing and selling over 20,000 units.

They went after YouTube influencers aggressively by sending free bikes and in return were able to catch a large share of the customer base.

 

[Art Deco]

It reminds me of Mark Cuban's quote,

" Everybody is a genius in a bull market"

So, the whole E-bike market is seeing exponential growth and it is easy to sell but a better metric of performance and growth would be longevity and customer happiness over the years.
How long they are in business ?
how's their customer acquisition cost?
how's their longevity ?
Have their weathered some tough times and come out ahead?

This applies to every company I believe. Having said all that, I have to credit Lectric XP for doing amazing marketing and selling over 20,000 units.

They went after YouTube influencers aggressively by sending free bikes and in return were able to catch a large share of the customer base.

Only believe the reviews that involved spending their own money, maybe ...but it also takes time for owners to report problems and resolutions ...DTC companies that make it through the boom and still make quality bikes will be rare and wonderful things IMHO.

 

[john peck]

I´m of the opinion that cheap bikes like lectric are a good idea for 1st time electric riders. They are going to make mistakes
& need to learn the basics of maintenance & operation. I´d hate to pay $5k for a bike only to screw it up out of ignorance.
My 1st ebike ran about $2700 to purchase & easily another grand keeping it operational. I have $1200 in my current ride
which is actually hands down more functional. I´m at 2100 mi., & thus far additional expense has been a couple tires I
tore up, tubes for same, & a couple spokes I already had. I´ve learned to stay on top of maintenance & keep it fine tuned.

 

[Gordon71]

I looked them up out of curiosity. I was out for a ride today and passed two of them on the way to the park. They were actually only the second and third E bikes I've even seen since I started riding in April. Certainly inexpensive.

 

[john peck]

Time was I was the only erider hereabouts, but these days I can seldom ride without seeing at least on other.

 

[LordMerovingian]

I´m of the opinion that cheap bikes like lectric are a good idea for 1st time electric riders. They are going to make mistakes
& need to learn the basics of maintenance & operation. I´d hate to pay $5k for a bike only to screw it up out of ignorance.
My 1st ebike ran about $2700 to purchase & easily another grand keeping it operational. I have $1200 in my current ride
which is actually hands down more functional. I´m at 2100 mi., & thus far additional expense has been a couple tires I
tore up, tubes for same, & a couple spokes I already had. I´ve learned to stay on top of maintenance & keep it fine tuned.

You hit the nail on the head. My incoming Lectric Step Thru is going to be my first ever e-bike and even though i can afford one of them fancy Riese & Muller the "equivalent-price-of-a-decent-house-in-a-3rd-world-country" bikes if i wanted to, i was content to wade into the waters at the price point of a Lectric. Ofcourse, as i judge my use-case and as i mature into it, i'd be ready to splurge for the big leagues in the future.

I brushed off the usual criticisms from the snobbish elite who are of the opinion that if you don't buy a Ferrari as your first car and instead start of with a used Honda, you're nuts. (I'm exaggerating a bit, but the point stands)

 

[john peck]

You hit the nail on the head. My incoming Lectric Step Thru is going to be my first ever e-bike and even though i can afford one of them fancy Riese & Muller the "equivalent-price-of-a-decent-house-in-a-3rd-world-country" bikes if i wanted to, i was content to wade into the waters at the price point of a Lectric. Ofcourse, as i judge my use-case and as i mature into it, i'd be ready to splurge for the big leagues in the future.

I brushed off the usual criticisms from the snobbish elite who are of the opinion that if you don't buy a Ferrari as your first car and instead start of with a used Honda, you're nuts. (I'm exaggerating a bit, but the point stands)

Another skinflint, right?

 

[LordMerovingian]

Touché...

 

[john peck]

Well some of us have different expectations; I wanted a reliable bicycle with benefits. I started looking for a tough, cheap,
dependable bike, a ford not a porsche.