Swedish e-bike retailer MOVS has consolidated its service offering as it aims to be a “one-stop shop” for cycling in Scandinavia.
Integrating e-bike retailer Elcykelvaruhuset and benefit bike company Urban Benefit into a unified MOVS brand, the MOVS Store will offer retail and in-house bike production, MOVS Club will offer subscription-based bikes, and MOVS Benefit will offer employee benefit bikes.
The company believes that employee benefit bikes will be its primary driver of growth, anticipating a 60% increase in its customer base in 2025.
“In recent years, we’ve seen a shift in how Swedes access bikes,” MOVS CEO Mikael Klingberg told Zag Daily. “Since bicycles became an employee benefit in 2022, demand for benefit bikes has surged. Yet, many still prefer full ownership, while others opt for flexible subscriptions.
“By evolving MOVS into a one-stop shop, we make cycling more accessible, no matter the need or lifestyle. By having this flexible offer we believe more people will commute with bicycles. There are also synergies with different types of ownership. As an example, 30% of the customers that end a subscription tell us they are planning to buy their own bike instead.”
MOVS has observed a shift in consumer behaviour from its own demand split. In 2020, 100% of its demand was for e-bike sales. When the company offered e-bike subscriptions two years later, demand split 50% for sales and 50% for subscriptions.
When MOVS added employee benefit bikes to its service, this generated 30% of the company’s demand, compared with 40% for subscriptions, and 30% for e-bike sales. More than 250,000 people in Sweden now have access to benefit bikes through MOVS’ Benefit system.
The company is aiming to generate SEK 170 million (€15.1 million) in 2025 – up from SEK 114 million (€10.1 million) last year.
“Cycling is deeply ingrained in Swedish culture, and those who can bike to work are considered lucky—it’s a privilege to avoid public transport schedules and traffic congestion,” said Mikael. “Yet, getting started can feel daunting, especially physically. E-bikes remove these barriers, making longer commutes effortless and ensuring riders arrive at work fresh.”
