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6 Dec 2023

Bristol and Cirencester-based bespoke fine jewellery retailer Titcombe Bespoke Jewellery, a member of the National Association of Jewellers, has received one of its most unusual commissions...

6 Dec 2023

Reynolds’ Butchers in Parbold, near Wigan, have set up a scheme called Mary’s Mince to help people living in the village.

5 Dec 2023

Research commissioned by American Express Shop Small reveals the top 10 high streets for independent shops in the UK, shining a light on the nation’s small businesses that play...

5 Dec 2023

A new campaign is calling on police & crime commissioners to tackle crime on a local level, as theft against convenience retailers reaches record highs.

4 Dec 2023

Recent data from VistaPrint, reported by London Loves Business, has revealed that 70% of London small businesses generate up to a substantial 86% of their annual revenue...

23 Nov 2023

Retail sector leaders have expressed a range of concerns, from taxation to business rates, following the Chancellor’s Autumn Statement this week.

22 Nov 2023

Six independent bookshops from around the UK have been named as the winners of the inaugural Booker Prize Indie Bookshop Spotlight, a competition in which independent bookshops and booksellers...

21 Nov 2023

The National Federation of Subpostmasters has received a response from new Conservative party chairman Richard Holden MP regarding the petition to keep DVLA services in post offices.
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21 Nov 2023

The British Business Bank has launched a new guide aimed at smaller businesses to help them understand how different financial products can support them at all stages of their development.

21 Nov 2023

Independent retailers across the UK are set to defy the Black Friday sales frenzy for the third year running, according to a survey conducted by Bira, the British Independent Retailers...

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UK bike sales could drop by a third in 2017

Posted on in Business News , Cycles News

According to data provided by HMRC, the first two quarters of 2017 saw UK bike imports fall dramatically - down 11% in the second quarter alone.

According to Bike Biz, if this decline continues over the full year this could result in just 2.5 million bikes sold in 2017 - one million less than in 2016 - a 17-year low for the UK cycle industry.

Reasons cited for the decline include a Brexit-induced weakness in the pound against major foreign currencies, causing the average price of bikes (which are mainly imports) to rise.

Bike Europe suggest that the UK's big drop in the import of regular bicycles is in line with the decline in exports by Taiwan's bicycle industry. Excluding e-bikes Taiwan's total export of regular bikes dropped by 26% during the first half of 2017. That export to the UK showed a 14% decline.

Despite the declining sales of bikes, e-bikes appear to be the silver lining. E-bike sales are increasing year on year and are estimated to account for over 10% of sales in unit terms and a lot more in terms of revenue.

Away from imports, the UK's bike manufacturing industry seem to be going from strength to strength, with Brompton recently launching its own brand e-bike and Pashley being awarded the contract for London's official bike hire scheme last year.

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