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5 Feb 2024

The Federation of Independent Retailers (the Fed) has expressed alarm at new figures that show shoplifting at its highest level in 20 years.

5 Feb 2024

A brand-new festival is being launched next month is “all about community and breathing life into the High Street”, according to Mark Kacary, managing director of The Norfolk Deli in...

5 Feb 2024

The retail sector has been responding to government plans to ban disposable vapes as part of plans to tackle the rise in youth vaping.

23 Jan 2024

Bakers, butchers, cheesemongers, delicatessens, fishmongers, greengrocers, village stores and small farm shops from around the UK have been shortlisted in the Farm Shop and Deli Retailer Awards...

23 Jan 2024

An interesting article has appeared in Forbes reflecting many of the issues that Indie Retail & ActSmart members will be experiencing – the challenges and...

22 Jan 2024

Eight in ten small business owners (81%) are planning to develop their companies in 2024, according to new research from Novuna Business Finance. The research shows that over a third (33%) are...

22 Jan 2024

The Times has named 12 of the UK’s best independent bookshops — as chosen by its readers. Readers highlighted places that combined books with a friendly and welcoming atmosphere....

22 Jan 2024

The British Independent Retailers Association is championing the high street again this Valentine's Day for the second consecutive year with its #LoveYourHighStreet campaign.

10 Jan 2024

Nads Store, a family-run shop in Law, Lanarkshire, has been named Community Retailer of the Year at the Scottish Asian and Business Awards ceremony for the second year running.

10 Jan 2024

In the face of the escalating threat of loan fee fraud, the British Independent Retailers Association (Bira) is urging its members to heed the Financial Conduct Authority's (FCA) recent guidance...

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US e-bike sales show strong year-on-year growth

Posted on in Business News , Cycles News

In the US, e-bikes are showing strong year-on-year growth, with dollar sales growing by 95% in the 12 months ending July 2017, and unit sales up 96%.

These figures come from global information company The NPD Group who suggest that the e-bike sector is now worth $64.9 million thanks to electric bicycle sales nearly tripling over the last 36 months.

https://www.npd.com/wps/wcm/connect/npd/702ac589-1304-46ce-92e2-3c3883c9b865/1/electric+bike+sale.png?MOD=AJPERES&CACHEID=ROOTWORKSPACE.Z18_520I1882LOEKB0A9ALRD9K0000-702ac589-1304-46ce-92e2-3c3883c9b865/1-lXyvEtT

Electric bicycles priced $2,000 and over not only account for the bulk of sales, but are also driving sales. With the average selling price for an electric bicycle today at $2,400, the fastest-growing price band is $2,000-2,499, which has gained $3 million in dollar share over the last year; those priced above $3,000 have gained over $1 million. The majority of electric bicycle purchases are happening at independent bicycle shops, but the total market for this product is growing at a quickening pace.

There is also growing popularity of electric bicycles sporting fat tires. Less than $500,000 in sales two years ago, fat tire electric bicycles now exceed $2.5 million in sales and the average retail price has more than doubled, to about $3,200.

The top five brands for electric bicycles, based on dollar sales, are Trek, Electra, Specialized, Raleigh, and Giant. In an analysis of the top 200 selling models, transit/fitness designs comprise 42 percent sales, followed by lifestyle designs, with 25 percent of sales. The fastest growing subclasses are lifestyle and full suspension electric mountain bikes.

"Electric bikes are exploding right now because they have no age associations, offer an authentic riding experience, and appeal to the two strongest purchasing generations in the U.S. - Boomers and Millennials," said Matt Powell, vice president and sports industry analyst, The NPD Group. "Being experimental yet non-arduous they draw Boomers, while Millennials enjoy that they are technological, experiential, and offer a more economical way of getting around."

It is estimated that there are now 900 dedicated electric bike shops in the U.S., according to the U.S. Electric Bike Association's Ray Verhelst, with a quarter of traditional bike shops further dedicating floor space to pedal-assist stock at present. 

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