Mintel released a press release last week about the cycling market in the UK and one of the things they commented on was the average price of a bicycle.
In 2012 that was apparently £206, in 2013 it had risen £27 to £233. This seems remarkably low and I have asked Mintel to comment on how they worked it out, I have yet to have a response.
The average selling price of a bike has risen £27 from £206 in 2012 to £233 in 2013.
Note that they state selling price and not sold price. So it should be prices of the bikes on the shelves and has no relation to those actually sold or what quantity.
As I thought this was so remarkably low I decided to look into a couple of the online sellers of cycles in the UK to find out what the average selling price was. These sellers are Argos, Halfords, Sports Direct, Evans, Wiggle and Chain Reaction Cycles. Being knowledgable about the internet, I know a fairly easy way to get the information from the websites and was able to get all the prices of all the bikes on all the sites. This included kids bikes, which are mostly under the £233 mark.
|Bike Shop||Average cost of cycle|
|Chain Reaction Cycles||£1015|
From those 6 bike shops we have over 3566 bikes with an average price of £779.
I’m highly surprised at the average price of a cycle in the UK being £233, and my findings show that the number is nowhere near when looking at a range of shops.