'UK's leading cycling event' - the Cycle Show - reportedly axed for 2024 as industry struggles to negotiate 'current challenges' created by overstocking and lack of demand

The Cycle Show - described by the brand as the 'UK's leading cycling event' - has reportedly been cancelled for 2024 due to the "current challenges" faced by the wider cycling industry, caused by "over-stocking and lack of demand". 

Whilst 2024 dates are listed on the Cycle Show's website, a post by its former Head of sales and sponsorship - on LinkedIn - states that the event will not go ahead, a status that has been confirmed to Cycling Weekly by other additional sources.

The event - due to be held at Alexandra Palace - celebrated its 20th anniversary last year, and routinely brings together brands, distributors, retailers, journalists and cycling fans alike, with several bustling halls full of trade stands and a 'Live' stage featuring cycling celebrities. 

The head of sales and sponsorship for the Cycle Show, Alan Parfitt, confirmed the news in a public LinkedIn post in which he also said he was stepping down from his role. 

“Due to the current challenges in the cycling industry Immediate Live have made the very difficult decision to cancel the Cycle Show 2024,” Parfitt wrote. 

"We managed to navigate our way through the pandemic and subsequent stock shortages but the current challenges created by over-stocking and lack of demand have made running a large-scale event not commercially viable.” 

The cancellation of the Cycle Show is just the latest in a long line of similar occurrences from across the wider industry, with recurrent themes being surplus stock following a slump in spend after the Covid boom, the cost of living crisis, and Brexit. 

Just last week Cycling Weekly exclusively reported that more jobs had been cut at the struggling WiggleCRC. The online cycling retail giant went into administration in October and previously made 105 people redundant. 

The company also closed all of its international shops in order to “solely focus” on the UK market as it frantically searches for a buyer. 

The director of UK chain Balfe’s bikes, Mike Rice, also recently told CW that the cycling industry is the “most turbulent it’s been for 30 years.”

"We haven’t seen things on that scale in the cycling industry ever. While there was a significant boom during Covid, it has definitely come back down to earth with a significant bump, and we’re still seeing the challenges," he said. 

The tough year for the industry has also seen three other major distributors collapse, Moore Large, 2Pure and FLi. 

British kit companies Presca and Milltag were also forced to close down this year. 

Cycling Weekly has approached the Cycle Show for comment in relation to this story but have not been able to get a response.