Cycle Show: Cycle spending is recession proof

Brits are still investing their hard earned cash on all things two-wheeled despite 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 www.cycleshow.co.uk in August 2012, which delved into the spending habits of cyclists, found that 8 out of 10, or 81%* 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 commented: “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.

“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 ridden by Olympic Gold medallists, Bradley Wiggins, Ed Clancy, Victoria Pendleton and Joanna Rowsell.

For more information, or to book tickets to this year’s show, visit www.cycleshow.co.uk