As every bicycle industry member knows, demand for bicycles has surged since March. But with the vast majority of bike businesses being privately owned, they are not required to reveal any sales data, so it’s hard to get an accurate read on what is happening.
Halfords Group PLC is a large, publicly listed retailer of bicycles and automotive parts. Halfords was founded in 128 years ago in 1892 and now employs over 10,000 staff across 465 stores throughout the UK and Ireland with annual sales of around two billion dollars.
Because they have such a significant share of the UK bicycle market, their sales data is likely to be representative of the overall market trends.
On 8th September they released a trading update for the 20 week period to 21st August 2020.
Overall cycling like-for-like revenue was up 59.1%
Chief executive officer Graham Stapleton said sales of electric bikes and scooters were up 230% year-on-year.
Repair income was up 17.5%.
Online sales were up 160% year on year and now represent 54% of total sales revenue.
Data for this article was first published in Bikebiz.co.uk