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29 Sep 2022

With household budgets under pressure, a new study has revealed that half the population believe e-bikes are the natural replacement for cars.

29 Sep 2022

New research from Ankorstore, an online B2B platform that connects brands and shops in Europe, has shown that independent retailers are relying on the support of local shoppers, rather than the...

26 Sep 2022

Following the Chancellor’s mini-budget last week, the retail industry has been reacting to the support package for small businesses and independent shops….including some of the...

22 Sep 2022

More than £1.2 million has been paid out to cyclists who have fallen off their bike on Edinburgh's tram lines over the last decade.

22 Sep 2022

This Thursday, September 22nd is World Car Free Day, an annual worldwide event that gives communities the chance to imagine a life without traffic. It also encourages families to come together...

21 Sep 2022

The Association of Cycle Traders has welcomed the government’s announcement that it will be funding support for business energy bills over the next six months.

20 Sep 2022

Bike for Good, the Glasgow-based cycling charity and social enterprise, today announced its partnership with Cytech the internationally recognised training and accreditation scheme for bicycle...

20 Sep 2022

There is a growing movement demanding that roads be made safer for children to cycle to school, with local authorities being called on to redesign local roads and neighbourhoods to provide safer...

20 Sep 2022

Travel insurance comparison site, Comparethemarket, has compiled a list of the top 20 most Instagrammed cycling routes across Europe as inspiration for an exciting cycling break.

15 Sep 2022

BIES Retail has created a visual toolkit for all organisations, and the public sector during this time of mourning to show the country speaking with one voice of unity.

Study shows half the population see e-bikes as natural car replacement

Posted on in Business News , Cycles News

With household budgets under pressure, a new study has revealed that half the population believe e-bikes are the natural replacement for cars.

Bike is Best, a campaign that promotes the benefits of cycling, and which is supported by the ACT, commissioned research to explore the impact of the rising cost of living on people’s habits.

Of the 2,000 people who took part in the study, two thirds (69%) of the population have changed or are considering changing their transport behaviour, with 86% citing saving money as the reason for the change.

The study also found that 84% of Brits are planning on driving a lot less, 87% see the bike as a way of helping combat the rising cost of living.

Adam Tranter, founder of Bike is Best, said: “I want to acknowledge that both the pandemic and now the chronic squeeze on personal finances are horrible situations, but my hope is that something good, call it a silver lining, can be the sustained growth of cycling for everyday transport and the cycling industry needs to act now.

“The general public’s knowledge, awareness and desire for e-bikes is there. This is borne out by 50% of UK adults declaring that an e-bike is the most natural car replacement. Another really encouraging figure is that 87% of people feel that using a bicycle can help with the cost of living.

e-bike

“Despite this, the potential demand is being stifled as 41% of people think e-bikes are too expensive. There is a clear affordability issue and it’s not hard to see why, when people have got used to driving £40k cars for a relatively small down payment and £300 a month. Government policy can be a great way of lowering costs barriers to entry, just like the €4k subsidy scheme in France. The opportunity now for the cycling industry is to repackage bicycle ownership to help remove cost perception barriers.”

Although bikes are seen as the alternative to the car, they are used by just less than one-quarter (23%) with e-bikes used by a further 5%. Bike ownership is up at 57% (increasing to 72% for those aged 16-20).

Road safety is still a significant barrier to cycling for many people, with 38% concerned about road conditions, while 40% also said the cost is the main reason for not getting an e-bike.

ACT supports Bike is Best’s call for more work in supporting the gateway into cycling, be this financial aid, education or highlighting cycling as a viable and sustainable mode of transport. The cycling industry must work together to ensure that perceptions are changed at a time when it matters the most.

 

Retail finance – spreading the cost of higher value bikes

The ACT’s Ride it away Retail Finance scheme is the perfect tool for retailers to lower the cost barrier for consumers, and remove the cost perceptions that e-bikes are out of budget.

For example the cost of a brand new £2,000 e-bike can be spread over a couple of years, costing the consumer just over £75 per month with a 10% deposit. Further to this a good salesperson could help throw in a helmet and some lights too for just a few extra pounds per month.

The ACT have also helped create a Retail Finance Training course to help 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 receive up to a 50% saving off the RRP. To get started visit: indieretail.training.

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