The average amount Britons spend on a new bike has risen – by £27.
According to Mintel, a market research company, we’re spending a little bit more this year compared to last, and the average price of a new bike has hit £233. Last year Mintel said 40 percent of Brits were riding bikes.
While some might spend £233 on a set of handlebars, Michael Oliver, senior leisure and media analyst at Mintel said UK buyers are becoming more discerning and on the lookout for quality.
“There is no doubt that Britain’s cyclists have become more selective about the quality of bike they are prepared to ride, the average cost of a bike purchased rising in value,” Oliver said. “In part this is due to the decline in availability of very cheap – and usually poor quality – bicycles which have flooded the UK market in the past. However, there is little doubt that consumers buying bicycles in the UK are gradually recognising that one gets what one pays for, and that it is worth spending a little more to get a good quality product.”
Despite news we’re spending more, the annual report warned that volume sales are declining – and pretty fast. Brits bought 3.6 million bikes in 2008; last year that dropped to 3.2 million.
Road bike sales have been the best performing segment, which the research firm credited in part to the effect of British riders’ strong performances at the Tour de France and elsewhere.