ACT/ActSmart’s March market research has uncovered positive results for many bike retailers, with sales (volume) rising 48 per cent compared to February.
76 per cent of the retailers surveyed saw sales up on March 2008, year-on-year, with 10 per cent of bicycle retailers recording their highest turnover in the last 12 months.
Almost a quarter of bike retailers (24 per cent) saw a drop in sales year-on-year.
The body’s researchers found that the warm weather was a significant factor in increases, while price inflation – due in part to the falling strength of the pound – also affected sales volumes, with retailers passing increased costs to consumers, inflating price and sales value. Increasing polarisation of the market was also cited as a key cause behind the results with many retailers ‘upping their game’.
ActSmart added that while most sectors of the market appeared to be strong there were indicators that the entry level bicycle market was not as robust.
250 retailers took part in the survey, representing around 15 per cent of the total UK cycle market, according to ActSmart.