Price slashing on bikes helps boost industry, says report

New bike sales could reach almost £1billion in 2024

Young man checking out at new bicycle in bikeshop
(Image credit: Getty Images)

Heaving discounting on the price of bikes is helping to stimulate industry growth, according to a report by market research firm Mintel.  

The number of bikes sold in the UK fell by 11% in 2023, down to 1.9million. Mintel’s data forecasts a year-on-year uptick of 12% in 2024, thanks to an ease in the cost of living crisis and industry-wide discounting. 

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