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: 31-40 of 2257


6 Oct 2022

To coincide with Cycle to School Week, Sustrans has been calling on local authorities and Central Government to guarantee protected cycle lanes on main road routes to schools.

5 Oct 2022

The Government has been accused of failing in its duty to contact statutory consultees within the cycling and equestrian sectors as part of a significant national trail overhaul plan.

5 Oct 2022

The Financial Conduct Authority has confirmed plans to introduce a new Consumer Duty that will set higher and clearer standards of consumer protection across financial services and require firms...

4 Oct 2022

More than three quarters of British people do not believe the police would bother to investigate instances of bicycle theft, a new YouGov survey has found.

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.

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.