The ACT/ActSmart has joiend forces with Allegra in a brand new study of the UK bicycle market.
The ACT/ActSmart is encouraging all retailers and suppliers to take part in the industry survey, offering a £250 prize draw incentive for one candidate completing the industry survey. Full details of the incentive and collaboration can be found here.
The new research is aiming to achieve some clarity over the size of the UK cycle market – something the territory has been sorely lacking.
Allegra’s initial assessment of the value of the UK cycle retail market is £1.5 billion, while ActSmart research indicates the value is nearer £1.25bn – following last year’s growth of circa ten per cent, driven largely through price inflation.
Other key sources have estimated the size of the market to be far lower however, raising concerns that the market may be undervalued.