UK bicycle retail has enjoyed a positive month according to the results of the latest poll from the ACT/ActSmart.
The survey revealed that cycle retail sales grew 7.3 per cent in October – the highest growth rate in the last six months. The higher growth rate is partly attributable to October 2008’s poor performance in the face of poor consumer confidence. Year to date sales for specialist cycle retailers have increased 4.4 per cent on 2008.
The results of the ACT’s poll comes in the same week that Halfords revealed a 1.7 per cent rise in like-for-like sales in the 26 weeks running until October 2nd 2009.
The report also raised concerns of the widening gap in cycle retailer performance. 34 per cent of retailers said that their sales had risen over 20 per cent compared like for like with October 2008. In stark contrast 20 per cent of retailers reported sales were down by over 20 per cent in October compared with October last year.
The ACT said: “The weather remains relatively mild, cycle stock shortages are being addressed and retailers are benefiting from the ongoing impact of retail sales price inflation. Continued growth seems assured in the short term, especially in November when sales fell in 2008 vs. 2007.”