ALLENTOWN, Penn. (BRAIN) – The used bike market is a $2.4 billion business in the U.S., with 7.5 million owners, according to a new study by Gluskin Townley Group, LLC.
The study is the first research report that identifies the used bike market size, spending power and demographics, said Elliot Gluskin, managing partner of the Gluskin Townley Group.
"The findings from this report detail two important markers for change. One is that Enthusiasts and Moving Ups, the two cycling segments considered the core customers of specialty bicycle retailers, are responsible for the majority of planned spending on used bicycles – moving away from the higher-priced new bicycles.
"The second finding is the average price paid for recent used bicycles fits right into a recent blog by the NBDA about bike shops offering used bicycles at prices that won't scare potential customers away with sticker shock.
"We call on the supply side to use this report as a first step to understanding this significant subset of the U.S. bicycle market. For bike shops, this report can help retailers act quickly and strategically to capture some of this market activity which can result in healthier retailers serving a growing and currently underserved market," Gluskin said.
More information: Gluskintownleygroup.com.