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Bicycle Accessories - UK - June 2015

Bicycle Accessories - UK - June 2015

“There is potential to take wearable technology to the next level, with the development of smartwear. In some sectors this is already a reality – a good example being eyewear. However, there is also scope to develop smart clothing and smart helmets.”

– Michael Oliver, Senior Leisure & Media Analyst

This report looks at the following areas:

Wearable tech set to offer significant growth potential
Aerodynamics: The last unconquered frontier
Dominance of specialist suppliers offers opportunities for global brands
Online – A channel that suppliers should eschew or embrace?


INTRODUCTION
Definitions
Abbreviations
EXECUTIVE SUMMARY
The market
Figure 1: UK bicycle parts, accessories and clothing market, by value, 2010-20
Market drivers
Figure 2: Trends in participation in cycling among adults aged 16+*, 2005/06, 2010/11, 2012/13 and
2013/14
Companies, brands and innovation
Market share
Figure 3: Leading suppliers of bicycle parts, accessories and clothing, ranked by estimated UK PAC
turnover*, 2013/14
Innovation
The consumer
Current levels of cycling participation
Figure 4: Frequency of cycling, December 2014
Type of bicycle ridden
Figure 5: Type of bicycle ridden most often, December 2014
Cycling behaviours and experiences
Figure 6: Cycling behaviours and experiences, December 2014
Purchasing of bicycle parts
Figure 7: Purchasing of bicycle parts in the past 12 months, December 2014
Purchasing of bicycle accessories
Figure 8: Purchasing of bicycle accessories in the past 12 months, December 2014
Purchasing of cycling clothing
Figure 9: Purchasing of cycling clothing in the past 12 months, December 2014
Attitudes towards bicycle parts, accessories and clothing
Figure 10: Attitudes towards bicycle parts, accessories and clothing, December 2014
What we think
ISSUES AND INSIGHTS
Wearable tech set to offer significant growth potential
The facts
The implications
Aerodynamics: The last unconquered frontier
The facts
The implications
Dominance of specialist suppliers offers opportunities for global brands
The facts
The implications
Online – A channel that suppliers should eschew or embrace?
The facts
The implications
MARKET DRIVERS
Key points
Cycling participation continues to grow
Figure 11: Trends in popularity of top five participation sports among adults aged 16+, 2005/06,
2010/11, 2012/13 and 2013/14
Figure 12: Proportion of residents who do any cycling, at least once per month: England, 2012/13
Transport and commuting costs drive people to cycling
Growth in cycling infrastructure
Further strong growth for Cycle to Work scheme
Figure 13: Trends in numbers of cycle to work scheme certificates issued and new users, 2011-14
British Cycling membership increases
Sportive growth also boosts market
Exchange rate fluctuations impact pricing strategies
Incomes squeezed but signs of recovery
WHO’S INNOVATING?
Key points
Suppliers seek to develop alternative locking solutions
GPS mapping technology helps provide better routes
App benefits cyclists and city planners
Bolt-on e-bike solutions offer huge potential
Clothing not being left behind in innovation race
Using kinetic energy from cycling to charge mobile devices
MARKET SIZE AND FORECAST
Key points
PAC market growth outstrips bicycles market in past five years
Figure 14: Estimated UK sales of bicycle parts, accessories and clothing, 2010-20
Forecast
Figure 15: UK bicycle parts, accessories and clothing value market size forecast, 2010-20
SEGMENT PERFORMANCE
Key points
Clothing is the dominant sector within the PAC market
Figure 16: Estimated sales of bicycle parts, accessories and clothing, by segment, 2014
Clothing
Helmets
Shoes
Parts
Rubber
Wheels
Saddles
Accessories
Lights
Locks
Action/helmet cameras
MARKET SHARE
Key points
Madison leads the way
Figure 17: Leading suppliers of bicycle parts, accessories and clothing, ranked by estimated UK PAC
turnover*, 2013/14
Specialized is leading bicycle supplier by PAC sales
COMPANIES AND BRANDS
Madison
Fisher Outdoor Leisure Ltd
Zyro Ltd
Moore Large & Co. Ltd
Extra (UK) Ltd
Saddleback Ltd
Yellow Ltd
Bicycle manufacturers
CHANNELS TO MARKET
Key points
Halfords Group plc
Figure 18: Cycling within the Halfords sales mix, 2013/14 and 2014/15
Figure 19: Parts, accessories and clothing sales within the Halfords cycling sales mix, 2012/13-2014/15
Evans
Other specialists
Online channels are constant challenge bricks and mortar rivals
Wiggle
Chain Reaction Cycles
Rapha
Neos Cycling
CONSUMER BACKGROUND
Key points
Approaching two in five internet users ride a bicycle
Figure 20: Frequency of cycling, December 2014
Who cycles?
Cyclists most likely to ride a mountain bike
Figure 21: Type of bicycle ridden most often, December 2014
Nearly 40% of riders wear a helmet
Figure 22: Cycling behaviours and experiences, December 2014
PURCHASING OF BICYCLE PARTS
Key points
Inner tubes and tyres are most popular types of bicycle part purchased
Figure 23: Purchasing of bicycle parts in the past 12 months, December 2014
Rubber replacement by cyclists is an important driver of footfall
Figure 24: Purchasing of bicycle parts in the past 12 months, by current cyclists, December 2014
PURCHASING OF BICYCLE ACCESSORIES
Key points
Lights and locks are main areas of accessory spend
Figure 25: Purchasing of bicycle accessories in the past 12 months, December 2014
More than two fifths of cyclists have bought lights in the past year
Figure 26: Purchasing of bicycle accessories in the past 12 months, by current cyclists, December
2014
PURCHASING OF CYCLING CLOTHING
Key points
Safety to the fore with clothing purchases
Figure 27: Purchasing of cycling clothing in the past 12 months, December 2014
More than one in five cyclists has bought a helmet in the past year
Figure 28: Purchasing of cycling clothing in the past 12 months, by current cyclists, December 2014
ATTITUDES TOWARDS BICYCLE PARTS, ACCESSORIES AND CLOTHING
Key points
Brand awareness still an issue in the market
Figure 29: Attitudes towards bicycle parts, accessories and clothing, December 2014
Importance of online channel is clear to see
Potential for more emphasis on advice/recommendation?
Growing role of digital publications
Most frequent riders have highest usage of online channel
Figure 30: Attitudes towards bicycle parts, accessories and clothing, by cycling frequency, December
2014
APPENDIX – MARKET SIZE FORECAST
Figure 31: UK bicycles parts, accessories and clothing market, value forecast scenarios, 2015-20
UK RESEARCH METHODOLOGY
Consumer research
Sampling and weighting
Definitions
Qualitative Research
Further Analysis
Brand & Social Media Research
Trade research
Informal
Formal
Desk research
Statistical Forecasting

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