May 19, 2024

Motowndesserts

Automotive to Us

Riders Share Debuts Motorcycle P2P Subscriptions

Riders Share, a motorcycle sharing marketplace, has given bikers the option to pay a monthly subscription for discounted rides across the marketplace, according to a Monday (May 3) press release.

The Rider Pass subscription plan, which is what the new plan is called, will allow users to access an “industry-first service for peer-to-peer rentals designed to spur growth and motorcycle ridership as the economy rebounds,” the release stated.

The average price for renting a motorcycle via Riders Share is set by the bike’s owner and usually ends up around $100 per day, including insurance. The Rider Pass subscription will take 35 percent off the total price, with the monthly rate for the program sitting at $24, according to the release.

“We believe subscriptions are key to continued growth in peer-to-peer rentals,” said Riders Share CEO Guillermo Cornejo in the release. “There’s an entire market of 20 million-plus ex-riders who are bikeless; our goal with subscription services is to provide an economic re-entry point to stimulate responsible ridership across the country.”

Motorcycles are “notoriously” under-used in the U.S., with an average use four times less than that of cars, according to the release. That puts a significant burden on the cost of a motorcycle trip, with many motorcyclists who ride under 40 days per year spending about $190 per trip.

“Peer-to-peer rentals typically cost up to 70 percent less than brick-and-mortar motorcycle rentals,” Cornejo said in the release. “With our new subscription offering, we’re now able to further reduce this cost, giving people that can’t commit to motorcycle ownership a viable alternative.”

In related news, U.S. car sales saw an increase of 8 percent in the first quarter of 2021, with vaccines as well as a sense of FOMO (fear of missing out) becoming more pervasive and even leading to shortages in stock of vehicles to buy.

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NEW PYMNTS STUDY: SUBSCRIPTION COMMERCE CONVERSION INDEX – APRIL 2021

About The Study: One third of consumers who signed up for subscription services within the past year were just in it for the free trial. In the 2021 Subscription Commerce Conversion Index, PYMNTS surveys 2,022 U.S. consumers and analyzes more than 200 subscription commerce providers to zero in on the key features that turn the “subscription curious” into sticky, long term subscribers.