UK bike sales hit 20-year low but long-term outlook remains positive
Posted on in Business News , Cycles News
The Annual Market Data Report for 2022 from The Bicycle Association (BA) reports annual cycle sales in the UK fell to 1.88 million units in 2022, a 20-year low, 27% below pre-COVID levels in 2019.
Sales of children’s bikes fell 28% below 2019 totals, dropping to 700,000 units sold in 2022. Sales of e-bikes have plateaued in the U.K. since 2020.
The report discusses key drivers shaping the market, including international comparisons between the UK and other markets. Sales in other key markets, including the US, have also been lower than pre-pandemic levels.
Although the outlook for this year remains challenging, it is expected that once the economic outlook has improved and overall supply and demand has returned to a more even keel, the longer-term prospects for the cycling market remain positive.
Commenting on the findings, Jonathan Harrison from the Association of Cycle Traders said:
“This will not come as a surprise to bike retailers, who are more than aware of the challenging economic climate and the effect it is having. However, we believe that by being creative, agile, and customer-focused, the sector will emerge stronger, particularly if together with government and local authorities, we can reinforce cycling’s position as a safe and attractive method of transport.”
The report shows how the UK bike market could recover, including selling more e-bikes, sales of which are far lower than in the rest of Europe.
Addressing this, the report adds, requires increased support and greater focus on cycling’s role in UK economic growth and net-zero strategy with local investment.