Is the bike industry in trouble?

Have you noticed the pre-owned bike market slowing down? There’s a reason for that. Bike shops and online retailers are oversupplied with inventory. Due to supply chain constraints and factory delays during Covid, bike demand was rising through the roof. To meet the customer’s demands, bike shops and retailers started ordering all the bikes they could get their hands on. Now that supply chains and factory production are back to normal, orders have caught up to bike shops and retailers, causing more inventory than ever. Ontop of this, the world is out traveling again, and consumers are spending their money elsewhere. As a result bike demand has dramatically decreased.

All these things have started causing heavy discounting (30-45%) on the new bikes which causes downward pressure on used bikes. There are several examples of high-end bikes being discounted at greater than 40%. Take this example of a Yeti Cycles SB115 with GX AXS from Competitive Cyclist for 45% off. As of writing this, it is also available in all 3 colors and in sizes L and XL!

Incredibly nice used bikes are now having to be priced for way less than they should in today's market. How long do we think this market will last? Will 2024 bikes see steep discounting? Email us your thoughts at https://upcyclebikes.co/contact/

It's a great time to be a buyer but rather than becoming a seller, consider renting your bike on Upcycle until the bike market recovers!