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25 Mar 2024

When ACT member E-Motion Electric Vehicle Company in Swindon found that its outside wall had been vandalised with graffiti tags, manager Mark Butler decided to tidy it up a bit.
So Mark and...

22 Mar 2024

Rob Brown, co-director of Dalby Forest Cycle Hub, a not-for-profit hire scheme has been nominated for the Tourism Superstar 2024 award, run by VisitEngland.

14 Mar 2024

The Association of Cycle Traders has held productive discussions with the Cycle to Work Alliance around the issue of Cycle to Work reform, following the news that more than 650 independent bike...

12 Mar 2024

ACT parent company, Bira – the British Independent Retailers’ Association -  has said that the Chancellor’s decision to reduce national insurance rates could offer a...

11 Mar 2024

The Cycle to Work Alliance and the Association of Cycle Traders have identified common areas of interest around Cycle to Work reform.

11 Mar 2024

Cytech, the internationally recognised training and accreditation scheme for bicycle technicians, has launched a new Facebook group - the Cytech Tech Forum –...

11 Mar 2024

Proposed government changes to regulations and legislation governing EAPCs (Electrically assisted pedal cycles), which could see a doubling in the power of e-bikes to 500W and allowing ebikes to...

8 Mar 2024

Daniel Blackham, editor of industry magazine BikeBiz, has been writing about his experience of completing the Cytech technical one qualification at training provider Spokes People in Milton...

7 Mar 2024

ACT member and Cytech-accredited retailer JE James Cycles – one of the largest independent cycle retailers in Europe – is to open a new 7,874 sq ft store shop in Barnsley town...

6 Mar 2024

Cytech partner Activate Cycle Academy, the largest and most recognised training provider of bike maintenance and technical training courses to the UK’s cycle industry, recently welcomed a...

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Recovery incoming? UK bike sales expected to reach £1 billion in 2024.

Posted on in Business News , Cycles News

New data from market research firm Mintel suggests the UK bicycle market could on the road to recovery, with sales of new bikes set to reach almost £1 billion this year.
Mintel forecasts new bicycle sales will climb 12% in 2024, with Britons set to buy 2.1 million bikes.

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Last year, bike sales fell by 11% to an estimated 1.9 million, down 42% from a record high in 2020 of 3.3 million, according to Mintel.

However, 2024 looks set to be more prosperous for the UK bike industry, particularly thanks to the rising popularity of electric bikes.

The cost-of-living crisis has had varying impacts on the cycling industry.

Mintel’s leisure research category director Paul Davies says: “Rising living costs have severely impacted demand for new bikes and ebikes, which had already been suffering due to COVID-19 related supply-side issues.”

Despite the decrease in sales, Mintel says the increased cost of living has also spurred an uptake in cycling. Mintel says 34% of Britons are cycling more than they did a year ago to reduce spending on fuel or public transport.

Mintel says it is only now inflation has begun to ease and there have been signs of wage growth that recovery in demand for new bikes is under way.

Mintel previously revealed electric bike sales accounted for 23% of bicycle sales in the UK in 2020.

Based on a survey of 2,000 people, Mintel predicts electric bikes will be the most popular type of bike cyclists plan to buy in 2024, even if they account for a slightly smaller proportion of the market.
“Nearly a fifth (19%) of those who plan to purchase a bicycle for themselves in the next 12 months plan to buy an ebike,” Mintel says.

Mintel has also found 49% of current and potential cyclists agree they are more likely to buy a second-hand bike than a year ago.

Mintel says the increase in cycling during the Covid-19 pandemic has “done nothing to narrow the long-standing gender imbalance in participation” in cycling, with 41% of men currently cycling compared to 22% of women.

However, there is now notable interest in cycling among women aged 16 to 64 years old. Interest peaks at just over 40% among women under 45 but is also high among 45 to 64 years old at 34%, according to Mintel.

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