It will likely take at least until 2025 for the British bike industry to correct itself, according to a new report by the Bicycle Association. The prediction came as part of its annual report, which showed the poorest sales of mechanical bikes this century, with the industry still struggling with post-Covid overstock and low demand.
"Despite widespread price discounting, consumer demand is subdued and the industry remains heavily over-stocked. It is likely to take until at least 2025 to correct the imbalance between supply and demand," the BA said in a press-release accompanying its report.
Mechanical bike sales fell 5% last year, according to the report, which follows an 18% drop in 2022 and amounts to a total 33% below 2019 levels. Not all mechanical bike genres saw a decline though, with road and gravel bikes enjoying sales increases of 8% and 11% compared to 2022. Children's bikes saw the biggest fall, with an 8% decline.
The BA predicted a challenging first few months of this year, saying: "While the first few months of 2024 are expected to be difficult, volumes are forecast to grow in the low to mid-single digits between 2024 to 2026."
More recently, however, major discounts appeared to have stimulated growth in the industry, with Paul Davies of market research firm Mintel intimating that, “A recovery in demand is now underway."
Thank you for reading 20 articles this month* Join now for unlimited access
Enjoy your first month for just £1 / $1 / €1
*Read 5 free articles per month without a subscription
Join now for unlimited access
Try first month for just £1 / $1 / €1
