Mintel: '2010 UK bike market value is £698m' - BikeBiz

Mintel: '2010 UK bike market value is £698m'

Global consumer, product and market research firm delivers its verdict on the current state of the UK cycle industry
Author:
Publish date:
420_mypictr_185x185.jpg

Market research giant Mintel has provided BikeBiz with its latest valuation of the UK bike market - placing the 2010 value at £698 million.

The total was part of its latest report on the bicycle market (click here for more).

The valuation is likely to be a subject of controversy, and the research firm conceded that the UK cycle market is tough to value:

"Measuring the UK bicycles market is surprisingly difficult due to a number of factors. Imports fluctuate according to retailer stock levels, and volume sales are difficult to grow due to the lifespan of the typical bicycle and the prevalence of second-hand bikes in the marketplace.

"Taking these trends into account, Mintel has used Coliped’s market estimates and trade feedback to estimate 2010 values at £698 million – eight per cent growth since 2008 – and unit sales at 3.6 million, on a par with 2008 figures and a slight decline on 2009."

The firm also drew attention to the positive effect C2W has had on the industry – an area that has had future doubts cast upon it after HMRC changed the rules of the scheme: "The Cycle to Work scheme has been a huge incentive for consumers to start cycling, and furthermore encourage consumers to spend up to a third more on their purchase. Retail finance schemes have proved valuable in keeping the wheels of commerce turning during the recessionary period.

The report ended with a largely positive forecast for the cycle industry: 'The Cycle to Work scheme has been a huge incentive for consumers to start cycling, and furthermore encourage consumers to spend up to a third more on their purchase. Retail finance schemes have proved valuable in keeping the wheels of commerce turning during the recessionary period."

For more click here.

Featured Jobs

cycles service promo

Shop Manager/ Head Mechanic

Cycleservice Limited I Sidmouth, East Devon I Salary: £22,000 Plus Share Incentives Available I Date Published Wednesday 30th May 2018

Giant St Paul Logo

Bike Fitter / Sales Person

Giant St Pauls I City of London I Salary: Negotiable Dependent on Experience I Date Published Thursday 21st June 2018

Sigma-Sports

Social Media Executive

Sigma Sports I Hampton Wick, Surrey I £22,000 to £24,000 per year I Date Published Monday 4th June 2018