PORT WASHINGTON, N.Y. (BRAIN) — Perhaps because of the lack of supply of lower-priced bikes, retailers saw a bump in sales of $1,000-plus bikes in June, contributing to a 63% year-over-year growth in bike sales that month, according to the NPD Group.
Road, gravel, mountain bikes and e-bikes priced above $1,000 all saw sales growth in the month: Full suspension mountain bikes were up 92% in dollars, gravel bikes were up 144%, sport performance road bikes were up 87%, and e-bikes up 190%.
The growth in children's, lifestyle, and transit/fitness bikes slowed compared to their April and May 2020 rates, likely as a result of lowered inventories at retail, NPD said.. Although June growth for these categories was lower than that of the performance categories, they showed significant average sales price increases. June average selling prices were up 20% compared to the same period last year for lifestyle bikes, +33% for transit/fitness, and +13% children's bikes.
"The growth of these performance-based segments is likely a result of a few factors. Consumers of these more expensive bikes may have delayed purchases in the early months of the crisis, creating pent-up demand for these categories. Additionally, with a continuation of working from home for many, and as gyms and health clubs are unable to reopen in many states, consumers may be more willing to invest in higher-priced, performance-oriented bikes as a fitness option for the long haul," said Dirk Sorenson, a sports industry analyst for The NPD Group.
