It seems that the British public are getting back on their bikes in startling numbers. Last year alone, we cycled an impressive 3.5 billion miles; 6.3% more than in 2015. However, as the UK Government forges ahead with a £1.2 billion project set to double the uptake of cycling by 2025, it seems that further growth is on the horizon. The question is: How can retailers gear up their operation to capitalise on this accelerating market?
Cycling in the UK peaked in 1949 as the nation covered over 14 billion miles on two wheels. As the cost of car ownership fell and access to public transport improved, the use of bicycles crashed. However, in more recent times, cycling has undergone a resurgence. Powered by a cluster of factors including Team GB’s Olympic success and an ever-increasing consumer focus on health, the cycling industry has been cranked back to life!
With no sign of this growth slowing, businesses now face a huge opportunity to profit. But what can they do to maximise sales opportunities while minimising supply chain costs and exposure to risks?