Revel Enters the Bike Subscription Category

Revel, a Brooklyn based company got its start in the rental business through electric moped rentals. All over Brooklyn, you would see New Yorkers riding around on light blue electric mopeds. This was Revel’s introduction into the motorized subscription service in 2018. If you visit the Revel webpage, they stated in their about us section ​that the company was focused on “electrifying cities through charging infrastructure and shared electric vehicle fleets’’ The electric vehicle category overall has created some groundbreaking products over the past 5 years, in the United States . Companies like Tesla, BLNK, to other traditional brands like Toyota and Ford who release electronic vehicles this year,to a start up company like Revel disrupting the industry.

Insight

This week Revel announced they will roll out a new e- bike rental subscription program. Similar to Citi Bike, customers will be able to register for a subscription or one time use. When you think about the new things we have been learning about in the modules in regards to incremental innovation or trends in consumer behavior, this new service from Revel is a great example. As the summer approaches here in New York, this will be a service that I can see being used more often. New York residents will want to find ways to get out and move faster without having to get on the subway or get into a car. This change in consumer behavior plays right into the hands of Revel. One of the co-founders of Revel said in this article that “if you look at where cycling has gone, it’s completely boomed since COVID last summer, and that trend is only going to magnify”. Successful companies are able to spot trends and innovate within the trend. Revel is also providing one of a kind perks to their customers. What is very interesting is that numerous start-up companies take this approach when they are offering a new product or service. The more perks that a company offers the more brand loyalty they can build among their customers. This service is slightly more expensive than Citi Bike’s bike rental service but Revel does allow the customer to keep the bike with them. Revel seems very bullish about the future of bike sharing and the consumer market for electric bikes.

Article Source: https://www.brooklynpaper.com/revel-rolls-out-e-bike-rental-subscription-service/