Tern Builds Consumer Interest For Cargo Node on Kickstarter
TAIPEI, Taiwan – Tern and Xtracycle design partnered this fall to successfully crowdfund a full-sized folding cargo-bike on Kickstarter. Their project, the Cargo Node, raised over 140,000 euro from supporters across three continents. “The campaign proved that consumers around the world see the potential of folding cargo-bikes,” says Josh Hon, founder and Team Captain of Tern.
“In high-density cities, the value of cargo-bikes multiplies,” says Xtracycle founder Ross Evans. “Cargo-bikes are optimal for medium-distance errands and they let you cut through traffic. Unfortunately, in dense cities, space is at a premium, and cargo-bikes are big. The Cargo Node solves this problem by offering the ride quality and carrying capacity of a cargo-bike, while folding to 1/3rd of its total volume in 10 seconds.”
Josh Hon, “In person, it’s an amazing bike that deftly solves the problem it was designed for. On paper though, a folding cargo-bike sounds like a niche product. This was our original challenge when we first presented the concept to our global distributors. While Tern’s partners around the world were impressed with the bike, as an unproven category, the Cargo Node would require a leap of faith from dealers and distributors.”
Remove risk for dealers and distributors
Hon continues: “Traditional distribution models force distributors and dealers to assume significant risk in the sales-cycle of bicycles. We realized Kickstarter could help us remove risk for dealers and distributors. Over the course of the one-month campaign more than 20,000 people visited the Cargo Node Kickstarter page. The campaign reached over 100,000 potential customers through social media and received support from 168 backers in seven different countries.”
Using these statistics, Tern will build confidence with its distributor and dealer network and prove the potential global consumer demand for the product. Click here for the Kickstarter campaign: https://goo.gl/d2mhKl