Bike in Spain, a business that goes wheely well!
With the rise in gas prices, the development of cities that open the public space to soft mobilities, to which is added the growing desire to exercise and be closer to nature: the bike has the wind in its sails!
In 2021, the global bicycle market is estimated at US$59.33 billion and experts predict it will reach more than US$119 billion by 2030.
Spain is following this trend but with an even more important increase since the Spanish bike market has almost doubled in 5 years and recorded in 2021 an increase of 10.76% compared to 2020.
At the same time, consumer needs and behaviours are changing. The bicycle, which was rather perceived as leisure equipment, becomes, especially in the city, a mode of transport in its own right. Customers now need to be accompanied by experts to choose the right bike for their needs. That is why they are now rather to buy their bike into specialist shops than into multi-sport stores. Another important point: the average ticket in a specialist shop is almost 4x superior than in multi-sport stores…
BNP Paribas Personal Finance Spain’s teams have clearly identified this great business opportunity, which fits in perfectly with our purpose “Promote access to more responsible and sustainable consumption, to support our customers and our partners”. By offering bike financing, we are also fulfilling our commitment to “help our customers reduce their environmental footprint”.
However, positioning in this new market requires teams to take on many challenges. This diffuse market spread over more than 8,000 points of sale (specialized stores) requires the adoption of new working methods, new organizations.
To address this issue, Cetelem Spain’s teams have been innovative, particularly in optimizing and automating the KYI process, which is essential for all contracts.
In a strategy of diversification, Spanish teams have found the winning recipe! Jose A. Gimeno, Alberto Sanz, Isabel Marcos and their partners BICIMANIA and ATEBI are sharing with us today the success of their bike special offer!
