E-COMMERCE

Mintel report puts UK bicycle market £ 400m ahead of pandemic trade

In a recent report by Mintel on the UK cycling market, bicycle sales in 2021 were £ 400 million above pre-pandemic levels, which also suggests that more than a third of UK adult cyclists are now casual or regular cyclists. .

Rising prices and strengthening the market for electric bicycles have helped boost the market value with total sales of £ 1.25 billion. The report says one in seven cyclists now owns an electric bicycle, which is nine percentage points more than last year.

This increase in interest in pedal assistance has led to a quarter of the cost of bicycles, which is a quarter of the cost of bicycles, compared to £ 275 million in 2020 against £ 275 million in 2020. Much more consumers outside the main group of early fans (millennial men) say they’re thinking about buying an electronic bike, and 12% of those who are going to buy a bike soon will first pay attention to pedal assistance models.

Although overall sales were higher last year than in 2019, they could not exceed the figures in 2020, when blockages caused a bicycle boom and led to 3.3 million bicycle sales compared to about 2, 6 million in 2021.

All of these costs have prompted Mintel to calculate that the overall bicycle market in the UK is estimated at about 47% earlier than in 2019 at £ 850 million at £ 1.25 billion (2% less than in 2020). The recent withdrawal can be attributed to the fact that, according to Mintel, 25% of cyclists are delayed or unable to make the purchase they want, as a result of supply chain failures.

It’s not that it’s all about extravagant spending: Mintel says the record high numbers of British adults now cycling could also be linked to the cost of living crisis. Due to rising gasoline prices since Russia’s invasion of Ukraine and even earlier, 57% of Mintel respondents cited this as a factor in cycling decisions, and 25% noted an increase in the cost of commuting.

John Worthington, a senior analyst at Mintel, said: “Although cycling activity has declined since the peak peak reached in the first few months of Covid-19, the pandemic seems to have given a lasting boost to the cycling industry.

“Rising gasoline prices and the possibility of a protracted oil crisis as a result of the conflict in Ukraine may help” push “more people from car to bicycle travel. The cost of living crisis, including the recent increase in fares on public transport, may encourage more people to travel more often. Our study shows that among those who work mostly or entirely outside the home, 28% are interested in cycling.

“These developments, as well as the UK’s zero-carbon targets, are likely to strengthen long-term motivations for energy security and investment in green transport infrastructure, such as the construction of new safe bike lanes.”

If your business is looking for a deeper understanding of the upcoming and long-term bicycle retail market forecasts, annually CyclingIndustry.News Retail research now coming out. The full Mintel report is available buy here.



https://cyclingindustry.news/mintel-cycling-report/ Mintel report puts UK bicycle market £ 400m ahead of pandemic trade

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