(1 week, 2 PMs, 1 Client Partner)
Bibbr was born out of frustration of the archaic practices most racing organizations use when handling event refunds and exchanges. One's entrance into a race usually comes in the form of a racing bib. Most racing organizations usually have a "no refunds" policy when it comes to refunds or exchanges for events. This is just not feasible in modern times when a participant needs to purchase a ticket 6-9 months in advance only to either get injured weeks before the race or have some other commitment prevent them from competing.
Bibbr is an online reseller marketplace for competitive athletic bibs for events such as marathons, triathlons, and mud races.
- At the beginning of this project, we were tasked with conducting market research for our client partner (Bibbr) to validate whether or not there is demand for Bibbr's marketplace and determine market sizing for the Bibbr Marketplace in addition to making recommendations for the next steps Bibbr should take in offering its products and services
- Through conducting surveys, we found that when a registered participant could not attend the event, over approximately 45% transferred his or her bib via his or her own personal network and approximately 42% just accepted the financial loss of his or her bib
- From there, we created personas (of both a buyer and seller)
Personas of Seller and Buyer in the Bibbr Marketplace
Findings from Market Analysis
- We found in our market analysis that Bibbr has a $5-7 million market opportunity within the next year
If given more time and monetary resources, we would consult with a consultancy group to gather more in-depth data on different sporting events that require the use of bibs. In addition to that, once the Bibbr site is launched, we would want to measure the click-through rate of purchases made via the Bibbr website versus those made via affiliate sales on racing organizations site using promotional codes.