If Australian dealers are wondering why it’s so hard to get bikes, a new report from the UK gives an indication of the competing demand from just one other country, albeit one with more than double our population.
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 Bicycle Association’s member 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 (A$4 billion) per annum by the end of 2020
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 activity 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.
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.
You can obtain a full copy of the report (at a cost) by applying via this link.
This article was first published in BikeBiz.co.uk