FEATURE
NEXTBIKE ON UNSPLASH
TRENDSPOTTING 2023: STOCK AND SUSTAINABILITY
New year, new industry? BikeBiz editor Alex Ballinger looks at the expected developments in the coming 12 months
S
o what can we expect from 2023? Last year we began to feel the effects of the hangover from the Covid-19 pandemic, from the realisation of the
predicted overstocking issues, to the continued growth of micromobility in the cycling market. The next year is going to be challenging, that much is
clear. Most of the people I’ve spoken to from across the bike trade are concerned about the squeeze on consumer spending, recession, and the threat of overstocking leading to mass price reductions. But cycling, both as an industry and as a pastime, is
resilient. The biggest tail-off in sales we saw last year was in the mid-range road bike market, and I believe that market will continue to struggle, as a squeeze on consumer spending prevents potential new riders embracing a new hobby. However, the commuter market is likely to continue its rapid growth, as more people explore cheaper alternatives to car travel, while also trying to avoid ever-worsening congestion in towns and cities. As more people discover the efficiency and savings of cycling, more people will invest in convenient
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and space-friendly commuter bikes like Brompton and Dahon folding bikes. This of course comes with a whole host of potential accessory sales, like locks and lights, but only if cycling businesses are willing to wholeheartedly embrace new commuters and make the most of potential upselling opportunities. Another huge market is the e-cargo sector, which again will be bolstered by low running costs and time efficiency. But due to the big-ticket nature of e-cargo bikes like brands Tern and Benno, the bike trade needs to put in additional effort to convince consumers to invest thousands of pounds in a car replacement. Offering a sales experience, including aftercare and accessory deals/ discounts, is going to be essential in converting non-cyclists into everyday riders. E-scooters will no doubt become an increasingly significant part of the transport mix, and expect more cycling distributors to be offering e-scooter products as legalisation looms in 2023. Overstocking issues also remain a very serious concern, the long-term impact of the resulting discounting is hard to predict.
January 2023 | 7
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