BOULDER, Colo. (BRAIN) — The bike market jumped 7 percent in November as supplier shipments rose by $5.1 million compared with the same month in 2016. Shipments of e-bikes were up $4.4 million during the month and were responsible for most of the gain, but gravel, ’cross and 29er full-suspension bikes were up $2.7 million, $1.7 million and $1.3 million, respectively.
November business was so strong that it lifted year-to-date wholesale revenues tracked by the Bicycle Products Suppliers Association close to 2016 levels. Through November, sales were off 2016’s pace by just 1 percent, while unit shipments were down 4 percent. That's a big improvement over September, when year-to-date sales were down 3 percent and unit shipments were down 5 percent.
The numbers indicated dealers were counting on a strong end of the year, especially among their high-end customers. The ’cross bikes ordered in November were worth an average of $1,803, up $671 from a year earlier. Gravel bikes also saw a sizable jump in value, rising to $1,222 from $656 a year earlier. E-bikes and 29er full-suspension also saw a bump in value of about $200.
Suppliers were even more bullish on the end of the year as inventory rose 7 percent in dollars and unit volume over what they had on hand in November 2016. Inventory of BMX bikes was almost double compared with a year ago, and e-bike inventory also was up.
