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9 Jul 2025

A recent BBC Breakfast segment has sparked backlash from the cycling community over its portrayal of e-bikes, with critics accusing the broadcaster of conflating legal e-bikes with illegal,...

8 Jul 2025

More than 30 locations across Scotland have seen a major rise in the number of people cycling, according to newly released data.

7 Jul 2025

Sixteen illegally upgraded e-bikes capable of speeds up to 40mph have been seized and disposed of in a joint enforcement operation in Birmingham city centre.

7 Jul 2025

Bristol-based Cytech training provider and ACT member Life Cycle has launched its award-winning Bikes Beyond Bars programme at HMP Bullingdon, expanding a project that has already impacted lives...

4 Jul 2025

New data from Strava reveals a major surge in cycling across the UK, with Gen Z and Millennials leading the charge.

3 Jul 2025

Shimano has launched an urgent investigation into what it describes as a “critical” shortage of skilled bike mechanics across Europe, warning that the situation threatens to...

2 Jul 2025

MPs have called on Amazon and eBay to tighten controls after e-bikes and chargers flagged as serious fire risks were found for sale on their platforms.

25 Jun 2025

The E-Bike Positive campaign has seen major success in the first half of 2025, with its message reaching nearly 8 million people across the UK through high-profile media coverage and growing...

20 Jun 2025

The House of Commons Business and Trade Committee has asked the ACT, and its parent company Bira, to help them reach out to small business retailers across the country, for their quick input on...

20 Jun 2025

Activate Cycle Academy has reopened its Cytech training facility in Darlington, offering a full range of courses from Home Mechanic up to Cytech Technical Three.
 

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Retail finance plays a key role as sales continue to surge in the cycling industry

Posted on in Business News , Cycles News

ARide it away recent survey undertaken by the Association of Cycle Traders amongst IBDs shows an increase in both new and returning customers in December 2020 in comparison to 2019. The survey was part of an IRC initiative whereby retail feedback is collected by a number of trade organisations for Government lobbying to the benefit of members.

The year of 2020 was a challenging year for the retail sector as whole, but for bike retailers in particular it meant a rise in demand never seen before, leading to booming sales and stock shortages.

Seasonal cycling trends were thrown into disarray as the Covid-19 disruption impacted consumer buying habits. Most unusually, figures show that November was a stronger sales month than December for the IBD.

Credit card volumes in the cycle sector were reportedly 19% higher in November than December, helped by a 10% increase in the average transaction value, a 25% reverse on the 2019 trend. Retail finance sales remained buoyant throughout the period, reflecting an ever increasing consumer trend to spread the cost of larger value purchases.

 

Why Retail Finance continues to be on the up

November's 2020 vs 2019 retail finance sales showed the highest growth since May 2020, when the UK was in the very midst of the cycling boom. These positive trend shows no signs of abating, as preliminary January figures suggest we will see an increase in retail finance sales of 47% between Jan 2020 and Jan 2021.

Online finance sales also inevitably saw a bigger increase than instore due to trading limitations arising from the pandemic leading to shops closing or reducing their product and service offerings.

UK retail as a whole recognises how the pandemic has accelerated online trading for the longer term; finance offered through a shop's website has become the expected norm among consumers. The increased popularity of bicycles in the last year combined with ongoing stock issues has driven finance to become yet more of a necessity as entry level bicycle models have all sold out, leading retailers to upsell to better quality models with higher price points. Here retail finance proves to be invaluable in allowing consumers to purchase at price points that might otherwise have lost the sale.

Now is the time to take advantage of the growing opportunity that retail finance presents and offer your customers the chance to spread the cost instore and online. Find out how you can begin offering Ride it away retail finance now.

 

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