Growing preference for non-racing bicycles observed
Canyon, the German direct-to-consumer bicycle manufacturer, is adapting its strategy to cater to a broader and more diverse customer base, particularly focusing on younger individuals and women.
Last year, the company achieved revenue of 792 million euros, similar to 2023, but discounts have affected the operating result. Despite the industry still feeling the after-effects of the past corona boom, with high inventory levels and discounts leading to declining sales, Canyon is benefiting from the growing demand for gravel bikes. The gravel category has recently grown by double digits, and Canyon is currently particularly benefiting from this trend.
Wider tires up to 50 millimeters are becoming common on gravel bikes, and Canyon is following this trend. The company is also trying to appeal to all target groups with a wide range of models - from beginners to ambitious cyclists.
To attract younger and female customers, Canyon has hired experienced leadership with a consumer focus, such as Ben Coates, the new US general manager. Coates brings extensive bike industry experience, including a deep knowledge of customization through the MyCanyon program. This customization approach allows personalized bike options tailored to individual preferences, which can attract younger and diverse demographics, including women.
The search results do not specifically highlight targeted marketing campaigns or product lines for women, but Canyon’s overall business model emphasizes product safety, user experience, and accessibility for all customers, which inherently supports attracting a broader and more diverse customer base, including female riders.
The impact of these strategic adaptations appears positive. The US business has experienced rapid growth since launching in 2017, with expansions in sales, marketing, warehousing, and servicing networks indicating increased customer reach. The leadership expresses confidence that focusing on inspiring new customers and refining their retail strategy will grow Canyon sustainably and commercially.
Canyon is also focusing on affordable models to attract young customers and expects stable business by 2025. Integrated computers in the cockpit are a trend in bikes, according to Canyon, and the company plans to offer these features in its affordable models.
In addition, more women are now seen on racing bikes, a shift that wasn't observed a few years ago. The situation in the bike industry is still feeling the after-effects of the past corona boom, with high inventory levels and discounts leading to declining sales. However, the Tour de France helps sell racing bikes by inspiring hobby cyclists, both men and women.
Though explicit data on female customer growth or targeted campaigns is not detailed in the search results, Canyon’s consumer-focused initiatives and growth trajectory imply increased appeal to younger and female customers within their expanding customer base.
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- "What about Canyon's efforts to expand its appeal to younger and female customers beyond bicycles? Are there any plans for lifestyle, fashion-and-beauty, food-and-drink, home-and-garden, or travel sectors?"
- "Given Canyon's strategy to attract a broader customer base, particularly young individuals and women, it's reasonable to expect them to consider offering products beyond bicycles, such as gravel bikes with integrated computers in the cockpit for the food-and-drink sector."
- "As Canyon continues to grow, they could potentially explore partnering with travel companies to organize bike tours or vacation packages, catering to the interests of their younger and female customers, transforming their brand into a one-stop-shop for a complete lifestyle experience."
