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I think this is the elephant in the room. Bikes are still considered toys, not serious transportation, and in a time of economic difficulties most people don’t want to spend money on expensive toys.
Leisure can be as profitable as essential goods. I’d argue there is maybe more potential. It’s optional spending. Look how pet shops and veterinary services have exploded in the last few years whilst private medical hasn’t. It’s related to changing lifestyle and priorities and good marketing.
We can measure ‘serious transportation’ as business for bike shops as it largely continued (with key workers and those avoiding public transport). A lot of shops scraped-by on this as they couldn’t get any bikes to sell. Correct me if I’m wrong but IME the average dispassionate commuter will buy the cheapest wheel etc, only once the old one is unridable. That’s fine but a relatively low ‘basket’ value at the till.
Compare that to ‘non-serious’ cycling products sold; entry level bikes for leisure and smart trainers. These are £700 purchases. Those take little time to sell and have flown out.
I’m not suggesting ^ these are the markets. I’m trying to show people will happily spend on leisure.
miro_o-
Compare that to ‘non-serious’ cycling products sold; entry level bikes for leisure and smart trainers. These are £700 purchases. Those take little time to sell and have flown out.
I’m not suggesting ^ these are the markets. I’m trying to show people will happily spend on leisure.
You make a good point, and folks will spend money on leisure if they perceive it’s worth the expense. I haven’t seen actual stats but I suspect that the large majority of cycle users would rather spend £1000 on a holiday than on ‘just a bike’, even if they can get considerably more hours enjoyment per £ out of a bike.
Eseman
I think this is the elephant in the room. Bikes are still considered toys, not serious transportation, and in a time of economic difficulties most people don’t want to spend money on expensive toys.
This is my conclusion too. Shopping-turned-experience will become more and more important as online shops replace physical retail. Most bike shops were struggling before and will be struggling again after covid, but the few ones that were doing well provided a combination of good location, quality products, attentive service, and a good/great customer experience.