This is a trade facing website. Visit the ACT's consumer site thecyclingexperts.co.uk for information and advice on cycling and find your local independent cycle retailer.

Search News

Results: 1-10 of 980


1 Jun 2023

A new Cycle to Work Scheme that launches this week is claiming to offer partner bike shops the lowest commission fees in the industry at 4%, with an introductory offer of 3% until 31st December...

31 May 2023

A report published by financial institution Claro Money’s wellbeing division on the effects of money worries for retail workers found that 73% of retail workers feel negatively about their...

31 May 2023

ACT partners V12 Finance, who are headline sponsors for this year’s National Cycle Show, have an allocation of free tickets that they would like to share with you!

30 May 2023

ACT Gold Member ICE Trikes is looking for high quality independent bike shops to become new agents or dealers. The company already has dealers and agents in over 32 countries all the way from...

18 May 2023

A lobby group has warned of the “startling rise in the cost of accepting cards” for small businesses after the European chief of Mastercard defended the fees it levies on merchants.

18 May 2023

It has been reported by This Is Money that HMRC now holds 55 billion items of taxpayers' data, including email and bank records, as it cracks down on tax avoidance. The data is held on its...

18 May 2023

Sustrans is working with local businesses to provide bike maintenance stations and pumps at key stops along the National Cycle Network in Scotland, which, it says, will support more people to...

16 May 2023

Cycling UK has opened nominations for its annual 100 Women in Cycling list, which celebrates the inspirational women working in the cycle sector.

16 May 2023

Bike sales in 2022 were lower than 2021 throughout Europe's main markets, Bike Europe has reported, but e-bike sales continue to thrive - although the UK seems to be the exception.

9 May 2023

A mixed picture is emerging about the effect of the Coronation weekend across the UK's retail sector.

Back to news menu

The cost of living crisis: An opening for opportunistic bike shops?

Posted on in Cycles News

In the first of a five-part series, The Association of Cycle Traders (ACT), the largest cycle trade organisation in the UK, helps retailers boost their business. This month, a look at how the cost of living crisis will nudge more consumers towards cycling

As featured in the August edition of BikeBiz magazine – read it online here.


act logoact logoRail strikes, astronomical fuel prices and a climate crisis – all contributing factors to some rather drastic economic conditions for today’s average consumer.

As a result, people are beginning to consider cycling as a serious mode of transportation, and it is up to the cycling industry to get them pedalling along this path.

The recent steep rise in energy prices has significantly contributed to inflation reaching a 30-year high, putting pressure on households to cut back on discretionary spending.

While the decrease in disposable income will likely be felt by most sectors of retail, it may still present an opportunity for the cycling sector.

Many businesses will be considering the ways in which to reduce costs, with the knee jerk reaction of some being to implement job cuts and store closures. While this will offer some short term relief, research from KPMG’s Retail Think Tank shows that this is an outdated way of thinking, which will only lead to poorer levels of customer experience and satisfaction, at exactly the time when retailers need to be proactive, focus on the consumer and encourage them to shop.

With fuel prices hitting record-highs, as well as an increase all-round in bills, rent and food, more and more people are choosing to ditch the car and make their journeys on two wheels. As so many cycling novices are now entering the market, it comes as no surprise that some are left slightly taken aback by the cost of a decent road or hybrid bike, and even more so by the cost of an e-bike.

Therefore, it is up to the cycling industry to educate the consumer on why this purchase is worth the investment, as well as making it as easy as possible for the average earner to afford that shiny new bicycle.

Sell more with effective promotion of retail finance

A viable option for today’s cash-strapped consumers looking to spread the cost of their new method of transportation is retail finance. Retail finance can take the cost of their new £2,000 bicycle down to just £75 per month over two years with a 10% deposit. A good salesperson could then convince their customer to also throw in a helmet and some lights too for just a few extra pounds per month.

Various consumer surveys show that customers are more likely to spend a higher amount if retail finance is sold correctly, and for many customers, having the option to spread the cost was the main reason the purchase was made.

Whilst retail finance certainly has the potential to be your business’ most powerful sales tool, unfortunately it is not one that sells itself, so it is up to you and your staff to let every customer know the benefits of using finance in today’s economic climate.

The Retail Finance Training course will teach you and your staff how to encourage customers to make purchases, as well as maximising their spending through techniques such as financial promotion, Point of Sale (POS) and bundling.

The course retails for just £150 including VAT. Members of the ACT and ActSmart receive up to a 50% saving off the RRP. To get started visit: indieretail.training.

Back to news menu

Useful links

If you have any other queries please contact us.