The BA has released a new ‘COVID Impact’ report on the UK cycling economy, covering sales from January to October 2020.
This follows its publication in June of a baseline report on the UK cycling sector, which provided accurate and granular sales data for calendar years 2018 and 2019. Both reports take their core data from the BA’s Market Data Service, a UK-wide monthly collation of sales data direct from retailers across the country, covering over two-thirds of the UK cycling market.
The data is aggregated and anonymised by Sports Marketing Surveys Inc, the association’s data partner. It provides the BA with monthly updates and over 700,000 products categorised for analysis.
The Impact of COVID-19 on the UK Cycling Market in 2020 is an 89-page report providing a detailed analysis of cycling industry sales and growth during the pandemic period to date. It integrates the BA’s sales data with wider data sets, from weather patterns to the National Transport Survey, all viewed through the market data lens.
Key findings include:
– Retailers have seen sales grow by 60% since March 2020
– E-bike sales more than doubled
– One pound in every five spent on bicycles during the pandemic was spent on e-bikes
– The UK cycling market is expected to be worth £2.2 billion by the end of 2020
This 2020 report is one of only a few which the BA makes available beyond its membership, and it is released to provide a definitive picture of what is happening in the UK market. The report reveals the extent of the cycling boom seen in the UK in 2020, suggesting a step-change for the cycling sector which will define its growth for years to come.
With demand at times outstripping supply and hence raising prices, the report indicates that market growth could have been even higher had more stock been available. Between April and September 2020, the UK cycling market saw a 27% rise in sales volume and a 26% increase in average prices, compared with the same period in 2019.
Cycling during the pandemic lockdown reached its high point between mid-April and mid-June, regularly exceeding 250% of normal pre-COVID levels, according to Government data analysed in the report. Under COVID, cycling also broadened its market penetration, with Sport England survey data showing participation rising from 16.5% to 18% of the population – an extra million cyclists on the road.
This was reflected both on bike shop floors and online. Retailers saw an influx of new, first-time customers, especially amongst the under 35s, some reporting a new-to-existing customer ratio higher than 70-30.
The COVID impact report also illuminates the rising importance of electric bikes. E-bikes were already a major growth segment before 2020, and COVID-19 turbo-charged this trend with a 92% year-on-year rise in e-bikes sold, and a value increase of 118%, between April and September 2020.
One pound in every five spent on a bicycle during the pandemic was spent on an e-bike. The impact report notes a shift towards online sales, with the value of direct online sales more than doubling across the April-September period compared with 2019, while in-store sales fell.
The full report provides significant further detail on all of these aspects, integrating multiple data sources alongside the Market Data Service to provide a complete picture of the sector’s response. As the national trade association, the BA regularly consults leading figures in the UK cycling industry from within its membership, and also interviewed multiple CEOs to capture their insights for the report.
Executive director of the BA Steve Garidis said: “The Bicycle Association has long made the case that the cycling industry should be seen as one of national strategic importance. In 2018 we released research calculating its considerable economic contribution – worth at least £5.4 billion per year to the UK economy.
“COVID-19 has shown just how true this is – bike shops were recognised as essential businesses able to support key workers needing to travel safely, and cycling was promoted as one of just a handful of accessible ways for the population to stay fit and sane during multiple lockdowns. This report quantifies the impact of this on the cycling sector. We’re determined to use this data to convince Government that enabling people to use their bikes safely is good for the country and the economy.”
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