Sea Otter Europe is an ‘essential platform’ for bicycle component and accessory brands reaching their audience, organisers have said.
At the last edition of the festival’s expo zone, 51% of the brands in attendance were part of the accessories and components sector, a branch within the industry that, despite being one of the most affected by current supply chain and production issues, is ‘just as important’ for this year’s edition of the festival.
“The presence of brands at festivals continues to support activity in our industry and is synonymous with health,” said festival coordinator Marta Torres Ninot. “Accessories and components brands are increasingly taking advantage of the bike testing platform, which means that customers are not only interested in the brand of the bike they purchase but also in the suspensions, transmissions or tyres fitted to it. Every detail counts.”
The festival is fully focused on the end customer, with the aim of providing them with a first-hand cycling experience. However, this is not at odds with the fact that the festival is also a B2B meeting point. The big difference – compared to a professional trade fair – is that it takes place in a highly-dynamic, festive, open-air atmosphere, organisers said.
Individual component sales are increasing
Various digital platforms have published the first sales results for the first quarter of 2021 as well as investment forecasts for the sector. According to the latest study published by Sport Panel:
– Complete bikes, representing 45.03% of total sales, remain the leading category in the wholesale market, despite a slight reduction in their share
– This is followed by bicycle components, which account for 30.63% of the total value
– Textiles had a very good year, rising from 8.41% of wholesale trade to 9.25% as the third-largest category, followed by helmets with 4.33% and above footwear with 3.97%
Read the June issue of BikeBiz below: