The landscape of E-Bike evolution brims with multifarious contenders, ranging from ‘Big Fish Intelligence,’ with an annual turnover exceeding one billion, to ‘TENWAYS,’ the dark horse of the industry, backed by financial juggernauts such as Alibaba and Tencent. An influx of both emerging and established brands continues to mark the field, even to the extent that ‘DJI,’ the colossal drone conglomerate, initiated an E-Bike project last year in a bold endeavour to diversify its automobile portfolio.
Capital overwhelmingly endorses E-Bikes, with moguls pouring in funds onto the track. Temporarily, E-Bikes have become one of the hottest subjects in the venture capital sphere.
Before the conglomerates’ domination, an enterprise named “Aventon” had oscillated in the E-Bike arena for numerous years, even surpassing America’s prominent E-Bike brand, “Rad Power Bikes”, seizing the title as the market leader in the North American industry. The race for domination in popular circuits mirrors swimming against the current, it either advances persistently or regresses reluctantly. How might Aventon seize this rich vein of opportunity in E-Bikes to ascend to the upper echelons of North America?
Aventon was established in 2013, its founder, Zhang Jianwei, hails from Yongkang, Zhejiang. Not only does Yongkang hold the esteemed title of China’s hardware industrial manufacturing hub, but it also serves as a stronghold in China’s bicycle industry chain. Zhang, having spent his younger years amidst machinery, journeyed to America for his studies and is an unabashed connoisseur of outdoor activities.
The humble beginnings and educational pursuits of Zhang Jianwei were eventually assimilated into the fundamental constitution of his entrepreneurial brand. A fervent outdoor enthusiast, Zhang designated bicycling as his industry of choice in his early years, establishing his business with fixed-gear bicycles. His origins in a city renowned for its robust bicycle industry subsequently laid the groundwork for Aventon’s current comprehensive array of in-house research, design, and manufacturing capabilities.
The advent of shared bicycles in 2015 led to the continual marginalization of the traditional bicycle market, and “Fixed-gear bikes”, due to their niche category, faced an imminent crisis of elimination. Concurrently, the trend for outdoor travel and the popularity of the new energy track were sweeping abroad, with E-Bikes poised on the brink of a massive breakthrough.
In 2017, Aventon underwent a transition, shifting from conventional bicycles to E-bikes, and electing power-assisted bicycles as their primary product line.
Though the supply chain is grounded domestically, Aventon’s operational team derives entirely from the United States. During Aventon’s expansion journey, the brand strives for cross-border localization, seamlessly integrating the whole industry chain between China and the United States. Aventon has established its research and development, marketing, operations, and customer service hubs at its Los Angeles headquarters in the United States. It has also created research and development, customer service, and talent acquisition precincts in Hangzhou Binjiang. In addition, Aventon has a software collaborative development centre in Shenzhen. Lastly, a production and manufacturing facility is situated in Jinyun County, Lishui City in Zhejiang. Fortified by the robust support of a domestic supply chain and the profound user insights of our American operational team, Aventon, with its exceptional cost-performance advantage and efficacious overseas marketing, has swiftly acquired its first taste of financial success in the United States.
In 2020, as the pandemic swept the globe alongside soaring oil prices, the demand for transportation alternatives and outdoor activities in Europe and America reached unprecedented levels. This led to a surge in e-bike orders. Amidst this escalating industry fervour, the Aventon team promptly quadrupled their marketing budget, enlisting the aid of marketing agencies and consultants to manage public relations, digital marketing, search engine optimization, and more. A complete, coordinated strategy was swiftly put into place.
Aventon disclosed, “Orders have increased tenfold overnight, receiving as many as 300 phone calls daily. In the year 2020, Aventon’s revenue soared to a substantial 32 million dollars.”
According to robust estimates, Aventon dispatched approximately 50,000 units in 2020; the number dramatically doubled to 100,000 units the following year, generating revenue in the vicinity of 1 to 2 billion U.S. dollars.”
From 2021 to 2023, E-Bikes emerged as the coveted golden path pursued by myriad capitals. Domestically, no less than twenty E-Bike enterprises serially secured funding, amassing a total financing sum exceeding ten billion yuan. Amidst this fervent gold rush, Aventon too, captured two separate ten-million-dollar fundings in 2022, pushing the company’s valuation to an impressive $590 million. Proceeding with multiple product lines and in terms of pricing, in contrast to the affordability catered by ‘Dayi ZhiXing’ — average product pricing around $500, Aventon’s products osculate between $1,100 and $2,000, aligning closely with the prevalent prices of E-Bikes in both Europe and American markets.
Since the pioneering development of our first E-Bike in 2017, Aventon has established a comprehensive array of E-Bike offerings catering to an assortment of lifestyle scenarios, such as urban cycling, mountain expeditions, and light outdoor travelling. The expansive product line encompasses commuter bikes, off-road fat tyre bikes, cargo models, foldable versions, lightweight designs, leisure outdoor bikes, step-through models, and smart mid-drive types.
At present, Aventon’s best-selling model is the Aventure series of fat-tire off-road bikes. This E-Bike series has garnered over 4,700 reviews on its standalone site, with nearly 3,900 individuals awarding it a five-star rating.
The Aventure series, boasting both aesthetics and performance, employs not only a muscular American-style frame but is also equipped with a high-capacity battery and a potent rear-wheel hub motor. This has dramatically drawn the enthusiasm of a vast number of young outdoor sports enthusiasts, compelling them to enthusiastically purchase and laud with rave reviews.
In addition to E-Bikes, Aventon further offers electric scooters and a myriad of cycling accessories, including batteries, lights, helmets, pedals, and smartphone mounts, thereby devoting themselves to the creation of a comprehensive one-stop E-Bike shopping portal.
With an abundance of product lines, numerous brands inevitably neglect some while attending to others. Conversely, Aventon not only meticulously curates its merchandise selection but also exudes unwavering confidence in the quality of its extensive product range.
Aventon, with audacity, frequently juxtaposes itself against competing brands on independent platforms, even daring to measure itself against industry titans such as Rad Power Bikes, a juggernaut with abundant financial, physical, and human resources. Harnessing the dual power of optimized search engine exposure and narrative “borrowing,” Aventon has successfully cultivated a robust and loyal customer base through its formidable product offerings.
Thus far, Aventon has accumulated over forty thousand customers who have bestowed upon it a five-star rating on its independent site. Not only has Aventon ascended to the apex of market share in the North American E-Bike industry, it has also triumphantly received the prestigious honour of North America’s Best Bicycle Award consecutively for three years on the international stage.
According to rigid statistics, in 2023, Aventon saw shipments of 100,000 units, while Dayu Zhixing reached 500,000 units. Globally, there are very few E-Bike manufacturers capable of exceeding shipments of 50,000 units. Compared to the US market capacity of 1-2 million units, headline E-Bike brands only account for 1%-2%, among which Aventon stands as a prominent example.
At present, Aventon has not deeply penetrated major foreign e-commerce platforms like Amazon. The primary source of online traffic is predominantly handled by independent sites. Over the preceding trimester, the standalone site of Aventon has experienced a staggering measure of 1.7 million visits, surpassing the domestic giant of the United States, Rad Power Bikes, which stood at 1.5 million. In comparison, the independent site traffic of other local E-Bike brands, such as Big Fish Intelligent Travelling, Tenways, Velotric, and so forth, scarcely reaches beneath the one million mark.
The prodigious expansion of Aventon’s standalone site can principally be attributed to its meticulous cultivation of social media channels. Presently, Aventon boasts a significant presence across major social networking platforms such as TikTok, Instagram, Facebook, and YouTube, with a predominant focus on YouTube and Facebook. Facebook serves as the primary platform for Aventon’s user traffic. The official Facebook handle is prolific with updates, with new content generated nearly every day. This encompasses a wide array including product showcases, discounted benefits, user cycling experiences, and sponsored events among others. As of March 2024, Aventon boasts a following of 121,000 admirers on Instagram, thus making it the platform with the most considerable fan base across the digital spectrum. Aventon’s Instagram handle is dedicated to moulding an upscale brand positioning, with major emphasis placed on cultivating an atmospheric perception. The content curated is primarily street-style cycling shots, delightful snapshots of family excursions and pet-accompanied travelogues, collectively contributing towards the manufacture of an idyllic and contented ambience of cycling journeys, thereby accentuating the signature style of the brand. On video platforms like YouTube and TikTok, Aventon strategically tailors its content to appeal to different audiences. Their YouTube channel delves into technical aspects with detailed product reviews, while TikTok showcases lighthearted, everyday moments. By adapting their content to each platform’s unique vibe, Aventon effectively captures high-quality traffic. While Aventon’s official account doesn’t boast a massive following, they leverage Key Opinion Leaders (KOLs) to amplify their reach. Collaborating with niche bloggers and influencers aligns with their brand’s ethos, whether they have tens of thousands or just a few hundred followers. These partnerships, combined with endorsements from enthusiasts and professional media outlets, significantly expand Aventon’s audience across various segments.
Aventon doesn’t limit its SEO efforts to brand promotion but also incorporates long-tail keywords related to E-Bikes. This strategic approach ensures their visibility on platforms like Semrush, where they secure top rankings for relevant search terms, further enhancing their online presence.
Recognizing the importance of physical storefronts for E-Bike maintenance and customer experience, Aventon integrates a dealer locator feature on their website. This tool helps customers find nearby bike shops affiliated with Aventon, fostering convenience and trust. With over a thousand brick-and-mortar partnerships, including major retailers like BestBuy, Aventon ensures accessibility and availability of its products across the United States.
The E-Bike industry, overseen by BrandArk, represents a rapidly growing sector characterized by high average orders, significant profits, and rapid expansion. With such enticing prospects, it’s no surprise that substantial capital continually engages in aggressive tactics within this domain. However, the global journey of E-Bike expansion has yet to yield monumental success. Transitioning from a relatively uncontested market to one marked by intense competition, the future trajectory appears poised for potential conflict.
A pivotal aspect of Aventon’s success lies in its steadfast commitment to nurturing a local operational team. By combining proprietary capabilities with foreign operational strategies, Aventon cultivates an authentic business culture that resonates deeply with its target audience. This approach not only fosters a stronger connection with customers but also guides the company towards unwavering persistence and precision, even amidst challenging circumstances. Despite lacking distinct technological advantages compared to its competitors, Aventon distinguishes itself through its adeptness at identifying emerging trends, capitalizing on opportunities, and leading the charge with robust marketing endeavours.
