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TRENDSPOTTING 2024: WHERE DO WE GO FROM HERE? PHOTO: TOM AUSTIN VIA UNSPLASH
New year, new industry? BikeBiz editor Daniel Blackham looks at the expected developments in the coming 12 months and we hear the opinions of BikeBiz readers
2023
was undoubtedly an unprecedented year for the cycling industry. After emerging from the pandemic,
the appetite for cycling among consumers tailed off. This decline in demand coincided with the arrival of delayed
stock, ordered during the “cycling boom”, which has left many businesses hurting. In a bid to clear stock and keep the revenue section of the P&L ticking over, many brands have dropped their prices significantly with discounts in excess of 40% on new bikes and 70% off P&A. The latest market data from the Bicycle Association shows that mechanical bike unit sales are down, with e-MTBs the only sub-category in the e-bike sector up on 2022. Within parts, accessories and clothing, apparel has been hard hit with technology also enduring strong headwinds, languishing more than a quarter down on 2022. So where does this leave us going into 2024? Who knows, but it’s not going to resolve itself overnight. However, the bike trade is resilient and there are still opportunities for those willing to explore them, and with businesses exiting the sector, there are changes on the horizon. On the industry side, I’d love to see the true value of mechanics and technicians realised by both the consumer and businesses.
6 | January 2024
It’s a slow burner but as bikes get more technical, the skill set required to work diligently on one rises tenfold. Some consumers get it, many don’t and that’s on us all to educate them. On emerging trends in 2024, I personally look forward
to seeing the development of cargo bikes as uptake continues to grow. Low running costs and time efficiency are encouraging many car users to switch to two and three wheels for the school run and trip to the shops. The first question we asked our readers was: “What would you like to see from brands next year?” From my perspective, value for money – for everyone. Now this doesn’t mean cheaper, and it certainly doesn’t mean selling products at cost. Brands, distributors and retailers all need to make margin for the ecosystem to survive and then hopefully thrive. For a consumer to feel they are getting “value”, the service or product should enhance their riding experience, whether that is commuting to work, shredding downhill or tackling a sportive. Bargain hunters will always look for an opportunity to get a deal, but that’s not everyone. There are still thousands of customers that value and treasure the intangible benefits of a local bike shop.
www.bikebiz.com
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