Bicycle Retailing and Repair in Australia - Industry Market Research Report

Wheel of fortune: Growing industry demand as a result of COVID-19 has boosted revenue

The Bicycle Retailing and Repair industry capitalised on a resurgence in the popularity of cycling during the pandemic. The popularity of cycling ballooned as consumers sought physical activity during lockdowns that were not subject to government restrictions. High levels of government stimulus boosted discretionary incomes, while various forms of discretionary spending were restricted to halt the spread of COVID-19. These trends caused a spike in demand for bike sales and repairs in 2019-20 and 2020-21. As restrictions eased, consumers shifted to spending on discretionary items that were previously restricted, like overseas holidays or eating in restaurants. These trends caused a sharp drop in demand for bike shops in Australia. Overall, industry revenue is set to marginally grow at an annualised 0.4% over the five years through 2022-23, to $693.3 million. This includes a decline of 3.9% in 2022-23.

Industry companies primarily retail bicycles, sell bicycle parts and offer associated repair services. The industry does not include department stores, general sporting goods retailers and online-only operators that sell bicycles.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.