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Just like a car, if you trade it in, you're going to get more if you sell it outright, usually. “Most customers aren't going to get as much out of their bike if they're doing a trade. But she said the used bike market also is seeing a boom, and customers may have better luck elsewhere. Both of those services are suffering.ĭavis said Bloomington Cycle ramped up its trade-in program for used bikes to help fill some of the void. The shop also sell components for bike enthusiasts to work on their own rides at home. Repairs are a big part of Bloomington Cycle’s business. And I don't know when that demand is going to slack. I really don't know when that supply is gonna get better.
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“The hardest part for me is not knowing how to plan.
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“It can be disheartening to be in here every day and have to tell people ‘No, sorry, I don't have what you want.’ We're all doing this because we love seeing people find joy in cycling, and not being able to help with that kind of takes the wind out of our sails,” Davis said. Customers often leave empty handed, with no real prospects to find a bike elsewhere. But unlike some other types of outdoor gear, bicycles aren’t one-size-fits-all, she said. Others have been waiting since last summer.ĭavis said some are springing for a different style or higher-end bike, just because that’s what’s available. “It's hard for me to keep a bike in my store this year that's under $1,000 for more than literally an hour.”ĭavis said staff is helping customers figure out what type of bike they want, taking down their information, and contacting them when a good option becomes available. “I would say that everyday active supply, which is kind of the most common, least expensive fitness bike, is the most significantly impacted,” Davis said. The demand boom has largely stayed concentrated in one area: The demand is off the charts, the supply is shellshocked and wary, and it’s going to take at least a year for things to shake out and establish a new normal."It's hard for me to keep a bike in my store this year that's under $1,000 for more than literally an hour."ĭavis said supply challenges are impacting all styles of bikes: mountain bikes, road bikes, touring bikes, etc. That unknown is fueling the bike and component shortage. But how many are now dedicated cyclists, stoked on a new hobby? It didn’t take long for people to realize they’d rather be out riding a bike than sitting in their houses, and it stands to reason that lots of those people will let their new bikes gather dust once life resumes regular programming.
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Of course, nobody knows what will happen once malls, movie theaters, restaurants, and sporting events are back open and running at full capacity again. He’s predicting a 43% increase in sales over the next decade. Margevicius, understandably, is bullish about the continued popularity of bikes. They don’t want to be left with greatly expanded factories, and the costs that would entail, only to watch demand plummet to the previous baseline in the coming years. While the factories that produce the lion’s share of bikes and components, mostly in Asia, could expand to meet this new wave of demand, the factory owners don’t seem to quite believe that this burst in bike enthusiasm is likely to last beyond the next year or so, as the COVID pandemic recedes, and indoor activities become possible again. Lead times for common components are over 300 days in many cases. “ a year or more for the industry to fully recover and build back up the inventory so we have the product available for the market,” he said, according to Pinkbike.