image credit: Forbes
In fact, many bicycle shops are running out of inventory. Children and adult bicycles have seen double and triple digit sales increases, according to NPD.
One thing that has helped is that bike shops were deemed “essential businesses” in many states. In addition, cycling is an activity that people can do while socially distanced and a lot of people are substituting mass transportation (trains and buses) for bicycles.
There is also a big surge in people bringing in old bikes for repair. Bikes that are 5 to 10 years old, but just need a little tuning.
One high-end road bike and triathlon shop in London reported that entry level bike sales were up by 677%.
In New York City, the DOT is reporting a 50% increase in cycling traffic over the same time in 2019. While in Philadelphia, cycling traffic is up 150%.
This comes at a time when more and more cities are closing streets and modifying traffic patterns to accommodate cyclists. With the evolution of ebike technology, more and more people are reconsidering how they commute to work.
While the news is certainly positive for the cycling market, it remains to be seen whether the trend will stick after the economy starts opening up,