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Over 160,000 SMEs without mandatory employers’ liability insurance risk fines and prosecution

3 Mar 2023

More than 160,000 small businesses in the UK with between one and nine employees will not have employer’s liability insurance by the end of the year, according to new research from Smart... Read more…

Bakers showing resilience despite cost pressures

3 Mar 2023

Britain’s bakers are showing great resilience despite continued cost and operational pressures, according to industry groups.
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New research shows local high streets & shopping centres more resilient than major shopping hubs in cost-of-living crisis

3 Mar 2023

New data from commercial property specialist Colliers shows that in the face of the UK’s cost of living crisis, minor retail destinations such as local high streets and shopping centres... Read more…

Value of contactless payments grew 50% last year.

27 Feb 2023

Barclays, which oversees nearly half of the UK’s card spending, has reported that the total value of contactless payments made using Barclays cards in the UK increased by 49.7% year on... Read more…

UK bike sales hit 20-year low but long-term outlook remains positive

22 Feb 2023

The Annual Market Data Report for 2022 from The Bicycle Association (BA) reports annual cycle sales in the UK fell to 1.88 million units in 2022, a 20-year low, 27% below pre-COVID levels in... Read more…

Nottingham revealed as UK’s best spot for homebuyers who want a thriving indie retail scene

13 Feb 2023

New research by estate agent comparison site, GetAgent.co.uk, has analysed the number of independent shops found across 15 major UK cities to find which presented the most independent retail... Read more…

New data reveals the most and least expensive retail rental areas in the UK

13 Feb 2023

New data from insolvency specialists Real Business Rescue, which analysed current commercial retail listings to find the most and least expensive areas in the UK for business owners to open... Read more…

Tackling retail crime a priority, says Policing Minister

13 Feb 2023

The Policing Minister Chris Philp has said that tackling retail crime is a priority.
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The 1975 named as ambassadors for this year’s Record Store Day

13 Feb 2023

Record Store Day has unveiled indie rock band The 1975 as this year’s RSD ambassadors.
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Bike prices predicted to fall in 2023 due to excess stock, but not across the board

6 Feb 2023

Predictions of a slowdown in demand for bikes may contribute to an industry-wide decrease in prices, with the Bicycle Association reporting UK bike sales down by a quarter against Covid levels.
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UK bike sales hit 20-year low but long-term outlook remains positive

Posted on in Business News, Cycles News

The Annual Market Data Report for 2022 from The Bicycle Association (BA) reports annual cycle sales in the UK fell to 1.88 million units in 2022, a 20-year low, 27% below pre-COVID levels in 2019.

cycles parked

Sales of children’s bikes fell 28% below 2019 totals, dropping to 700,000 units sold in 2022. Sales of e-bikes have plateaued in the U.K. since 2020.

The report discusses key drivers shaping the market, including international comparisons between the UK and other markets. Sales in other key markets, including the US, have also been lower than pre-pandemic levels.

Although the outlook for this year remains challenging, it is expected that once the economic outlook has improved and overall supply and demand has returned to a more even keel, the longer-term prospects for the cycling market remain positive.

Commenting on the findings, Jonathan Harrison from the Association of Cycle Traders said:

“This will not come as a surprise to bike retailers, who are more than aware of the challenging economic climate and the effect it is having. However, we believe that by being creative, agile, and customer-focused, the sector will emerge stronger, particularly if together with government and local authorities, we can reinforce cycling’s position as a safe and attractive method of transport.”

The report shows how the UK bike market could recover, including selling more e-bikes, sales of which are far lower than in the rest of Europe.
Addressing this, the report adds, requires increased support and greater focus on cycling’s role in UK economic growth and net-zero strategy with local investment.

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