Boulder, Colo. (PRWEB) May 05, 2014
Increase in First Quarter 2014 Retail Bicycle Sales Signals Turnaround for Independent Bicycle Dealers
First Quarter 2014 Sales Buck Annual 2013’s Negative Sales Trends
According to The NPD Group, a global information company, Independent Bicycle Dealer retail bicycle sales, which declined 2 percent to $1.57 billion in 2013, experienced a turnaround in the first quarter (Q1) of 2014 (Jan.-March), increasing 6 percent to $270.2 million vs. the $254.6 million generated in Q1’13.
While total bicycle sales were down in 2013, sales for Transit/Fitness bicycles, which include commuters and hybrids, grew 5 percent from $329.7 million in 2012 to $347.8 million in 2013; and this upward trend continued in Q1’14, resulting in 13 percent dollar sales growth.
Categories that saw sales rebound in Q1’14 included Mountain bicycles, which, after a 1 percent sales decline in 2013, experienced an increase of 8 percent when compared to Q1’13. Increased sales of 27.5-inch bikes also helped to drive growth.
“To reinvigorate the marketplace, manufacturers introduced the 27.5-inch wheel mountain bikes,” said Marshal Cohen, chief industry analyst, The NPD Group. “This new technology created much excitement among bike enthusiasts, and is on track to reach 15 percent or more share of all mountain bike dollar sales by the end of 2014.”
About The NPD Group, Inc.
The NPD Group provides global information and advisory services to drive better business decisions. By combining unique data assets with unmatched industry expertise, we help our clients track their markets, understand consumers, and drive profitable growth. Sectors covered include automotive, beauty, consumer electronics, entertainment, fashion, food / foodservice, home, luxury, mobile, office supplies, sports, technology, toys, and video games. For more information, visit http://www.npd.com and npdgroupblog.com. Follow us on Twitter: @npdgroup.
The NPD Group