After a challenging year for endurance events and nonprofits, RunSignup said it closed in Q1 of 2021 with encouraging signs of market expansion. Total transactions on its platform in March 2021 were just short of the transactions from March 2019, despite the continued absence of large endurance events. This indicates both a return to running and an increase in market share for the GiveSignup | RunSignup platform over the last year.
In addition to the positive current trends, leading indicators also suggest recoveries in the market and expanding market share for GiveSignup | RunSignup. These include:
- New events on GiveSignup | RunSignup in 2021 are outpacing new events from 2019;
- After hesitancy early in the year, new payment accounts were created at a higher rate in March 2021 than March 2019; and
- Race renewals, which dropped 35 percent in 2020, surpassed the 2019 rate for the first time in late March 2021.
GiveSignup | RunSignup Founder and CEO Bob Bickel said, “We are currently outpacing our Transaction and Net Revenue plan for March by 15 percent. It’s exciting to see recovery come even faster than we anticipated, and we expect to see more growth as our older previous customers return, join the new events and nonprofits we picked up in 2020.”
Illustration courtesy RunSignup
