Cycling sales speed past $1B in April
For the U.S. cycling market, a typical April sales score is around $550 million — this past April, sales nearly doubled that.
The NPD Group reported April sales of bicycles, parts and accessories surpassed $1 billion, up 75% year over year. The category is seeing unprecedented sales numbers in the wake of the coronavirus pandemic, benefitting as one of the few activities that consumers feel safe and comfortable doing. And the category is seeing sales jump across the category, including children’s bikes (up 107%) and adult leisure bikes (up 203%).
“For far too long the cycling industry has been solely focused on the pinnacle athlete, but these results show that a broader, family and beginner focus can reap gains,” said Matt Powell NPD's sports industry advisor. “This is a silver lining, and one of the important sports retail lessons to come out of the pandemic."
Kent Bicycles, Parsippany, N.J., is a company that provides private brand bikes for Walmart’s Genesis store brand, and the company is seeing levels of demand that it's never seen before.
But adding to the challenge of getting bikes to Walmart, Kent was hit hard during the trade war between the U.S. and China over steel tariffs. The company is the second-largest importer of bicycles from China.
An article in Talk Business & Politics, a site that covers news in Walmart's home state of Arkansas, details Kent Bicycles' supply chain challenge for Walmart, read the full article here.