E-bikes are becoming more popular in the U.S. and Upway is trying to capitalize on this demand.
The secondhand e-bike platform launched at the end of 2021 and has expanded beyond its Europe home into the United States in early 2023. The France-based company's model controls the entire supply chain -- buying used bikes directly from the source, inspecting them in its warehouses and then shipping to customers.
In Europe, Upway is available in France, Belgium, Germany and The Netherlands, but the U.S. is a major focus, said Toussaint Wattinne, the company's co-founder and CEO.
"Clearly, the e-bike market is not at the same maturity level in the U.S. versus Europe," he said on the Modern Retail Podcast. "As a European company, it was super important for us to actually make sure we were looking at the U.S. as a standalone and from a blank sheet of paper approach, rather than try to copy/paste what has worked in Europe."
This approach meant that Upway had to understand the needs of the U.S. e-bike shopper -- which differed from state to state. Some geographies buy e-bikes for more leisurely rides, others use them for urban commutes. And while delivery people on e-bikes may be widespread in major cities like New York, "in the U.S. today, couriers actually represent probably sub-15% if not sub-10% of that total volume," Wattinne said.
As a result, Upway has been focused on figuring out a unique marketing strategy that speaks to the U.S. market. The first task was gaining bottom-of-funnel awareness via channels like Google.
Now, the company is looking at other ways to grow its U.S. presence. This includes a new warehouse in Los Angeles. It also means the company can begin thinking about other types of brand marketing.
"As we grew and as we grew confident about understanding our audience," Wattinne said, "we were able to start going a little closer to the middle of the funnel."
