The outlook for the UK cycling wear market is good due to consumer interest in cycling and a pandemic boost. Mintel The report was presented on Friday.
Last year, 3.3 million bicycles were purchased, and according to a survey of more than 2,000 consumers, about 42% of cyclists plan to purchase bicycles within the next 12 months. It should provide ongoing support to the wider cycling wear and accessories market.
However, consumers buy specific clothing for cycling activities, so not all are cycle shorts, technical jackets, and skin-tight jerseys. According to a survey, electric bicycles now account for more than one-fifth of total bicycle sales. England. These have the potential to appeal to different consumer markets than young and enthusiastic cyclists. And their popularity can stimulate consumer interest in general outdoor clothing offerings from sports and outdoor specialty retailers and more “normal” casual wear.
According to Mintel, bicycle sales in 2020 increased by an estimated 22%, with 21% of cyclists buying bicycles in the last 12 months, up from 17% in the previous year. The fact that the number of cyclists planning to buy bicycles in the next 12 months has increased from 37% in 2020 to 42% in 2021 means that the demand caused by Covid-19 is not yet on track. Is shown.
Of course, not everyone changes their bikes on a regular basis, but the fact that about 45% of cyclists change their bikes frequently since the pandemic began means that the clothing and shoes they wear for their activities. This means that you may have to replace it more often. It’s also important to note that 25% of adults who have bought a bike in the last 12 months are new or returning cyclists, and the number of consumers who are likely to buy cycling wear is increasing. Currently, 31% of adults in the UK are biking and 19% are biking at least once a week.
There is also a lot of potential for growth in the market as local governments may add new bike lanes and introduce government subsidies for the purchase of electric bikes.
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Strong outlook for the cycling market as the British embrace activity
Source link Strong outlook for the cycling market as the British embrace activity