UK consumers are still investing their hard-earned cash on all things two-wheeled despite the country being in the longest economic slump for more than a century, according to a survey conducted by The Cycle Show.
The survey, carried out on cycleshow.co.uk in August 2012, which delved into the spending habits of cyclists, found that 8 out of 10 (81% of respondents) have spent significant amounts on a new bike in the last 18 months or are planning to buy one in the next 18 months.
- Of the 55% of people that have purchased a new bike in the last year and a half, 33% said they spent between £1-1999, while 25% said they had spent upwards of £2000
- 27% of those surveyed said they planned to buy a new bike in the next 18 months, with 63% saying that they planned to spend between £1000 and £3000
- 79% of those planning to purchase already own a bike and are upgrading, with the upgrade being the desire for a lighter-weight model
- Of those cyclists that have bought a new bike in the past 18 months, 14% said they had invested because they had started to commute or were regular commuters and wanted to upgrade, while 15% said they were starting to race competitively or had improved in cycling and wanted an upgrade
Chris Holman, Cycle Show Director said “This survey demonstrates that whilst people are trying to make savings in their everyday lives, the majority of cyclists will continue to invest in the latest bikes, with a lot more serious first-time buyers coming into the market as well.”
He added, “Whether it’s measured by medal count, participation or cash spent on bikes, cycling can no longer be classed as a minority pursuit. Some will be inspired by Britain’s greatest cyclists, including Olympic Gold Medallists Ed Clancy and Joanna Rowsell, who visitors to The Cycle Show will have the opportunity to meet, while others will be commuters looking to take the next step in cycling. Ultimately though, it would appear that despite the recession, cycling is a buoyant market in the UK.”
The Cycle Show will have a wide range of 2013 models on display, from a whole host of exhibitors, ranging from the more affordable bikes right through to high-end brands including Pinarello, Colnago and Cinelli – with these brands ridden by Olympic Gold medallists, Bradley Wiggins, Ed Clancy, Victoria Pendleton and Joanna Rowsell.
A full list of exhibitors can be found at: www.cycleshow.co.uk/exhibitorlist.
The Cycle Show 2012 organisers are also ‘delighted to announce that Sir Chris Hoy will be at the Cycle Show on the morning of trade & press preview day on 27th September from 09.30am to 12.30pm. This is a once in a lifetime chance to meet the man himself who picked up his sixth gold medal at London 2012 making him the most successful British Olympian.’