We’re almost halfway through 2023 and the bike trade has suffered a turbulent start to the year.
As we emerged from the turmoil of the Covid pandemic, and the associated booms and shortages, the appetite for cycling among consumers rapidly began to tail off.
With consumer spending stretched to its limits through the first few months of the year, owing to soaring interest rates and the cost of living crisis, the bike industry has felt the sting.
This decline in consumer demand coincided with the arrival of delayed stock, ordered during the boom of the Covid pandemic, which has left many cycling businesses hurting.
We want to hear from you, our readers, about how you’ve fared in the first part of the year.
How has business been for you in the first half of 2023? What trends have you noticed emerging this year? What tips or advice would you share with other retailers and IBD?
If you’d like to share your thoughts, please fill in the Google Form below, or email your views to alex.ballinger@Biz-media.co.uk.
A selection of answers will be used in future BikeBiz articles, both in print and online.
So far this year, we’ve already seen the closure of a number of cycling businesses, most notably UK distributors Moore Large and more recently 2Pure.
Earlier this year, Derby-based distributor closed its doors after decades in operation, while Scottish distributor 2Pure also fell victim to the challenging market.
Other brands have been forced to make major cutbacks to adapt to the tough economic conditions.
But we want to know how your businesses have been impacted by the current climate. Do you see the light at the end of the tunnel for the bike trade? Have there been any silver linings, or any new opportunities that have emerged for your business?
Let us know.