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How is the cost of living crisis affecting bike retailers?


Rising energy bills have left businesses and consumers up and down the country strapped for cash, with few signs things will get easier in the coming weeks. BikeBiz asks cycle retailers how the crisis has impacted their stores


T


he cost of living crisis has affected everyone in one way or another in recent weeks, with rising energy bills and petrol prices leaving consumers strapped


for cash. Around nine in 10 adults said their cost of living had risen


over the past month, the BBC reported in June, with food shopping, gas and electricity bills and the price of fuel the most common reasons given. Inflation reached a 40-year high of 9% in April and the


average price of petrol increased by 11p a litre in May, the second-largest monthly increase ever seen, data from RAC Fuel Watch has shown. The rise in prices has been sparked in part by fall-out from


44 | July 2022


the Covid pandemic, as oil suppliers try to scale up to match the sharp rise in demand as lockdowns ease across the world, and drastically exacerbated by war in Ukraine, as European nations try to move away from reliance on Russian oil. Specialist retailer Pure Electric recently called on the


Government to bring forward the legalisation of e-scooters, urging ministers to act now to allow access to low-cost, zero- emission transport. “Spiralling petrol costs are the tip of the iceberg for people amidst a cost of living crisis,” said CEO Becks DeNiro. “With no clear sign of the price of fuel decreasing, the Government must act now to enable new regulations around e-scooters to allow people the opportunity of low-cost, low carbon travel at


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