BikeBiz Bicycle and cycling retail news
Actsmart has been speculating on whether UK-set cycle events have boosted bike sales in the UK, where the cycle market generates an estimated £2bn in annual retail sales.
The ACT said on the topic: "Those inside the industry are widely agreed that the market is not booming to anything like the degree widely published and certainly not in commercial terms. Cycling isn’t mainstream enough yet; it is still a relatively small retail sector. It remains male dominated in business and usage, but retains lots of potential for the future.
"At the higher end it’s an aspirational market. The products and cycle technology are ever-developing and the more you cycle the more you appreciate the value for money."
ACT figures reveal that the number of bike shops, largely independent, has increased 15 per cent over ten years.
The article also added its noted increases in both cost and quality in cycle product: "For the previous 20 years, the average cost of bicycles trailed consumer price inflation, as tracked by the ONS. Then, in 2011, the cost spiked by more than 11pc."
The article adds advice for retailers on making the most of sales opportunities for the growing high-end market.
Read the full article here.
