People bought out all the bikes because of the pandemic
From January to September 2020, the production of bicycles and electric bicycles has doubled. According to statistics from China’s General Administration of Customs, bicycle exports reached 1.1 billion U.S. dollars in the third quarter, setting a single-quarter record for the past 25 years. What’s the secret behind this explosive growth in the bicycle industry?
Bicycle sales in China and elsewhere are skyrocketing because orders exceed production capacity.
According to bicycle manufacturers in Danyang City, Jiangsu Province, the entire plant has been running full capacity since June of this year. However, the shortage of components and the inability to expand production is why the number of bicycles produced still does not meet demand.
With the increase in demand in other countries, the number of orders has increased rapidly, with sales up 50% from June to October compared to the same period last year. From June to October, orders are up 50% compared to those from January to May.
Besides the increasing demand in overseas markets, bicycle orders in China have also surpassed the available production capacity. This situation has led to shortages of supplies, components, and lengthened delivery periods.
Insiders point out that the epidemic has caused growth in the bicycle industry. It has set the trend of separated travel, which has increased the demand for bicycle travel. Also, as the epidemic spreading overseas, cycling has become a form of exercise and entertainment for many people in various countries. These factors stimulated an increase in bicycle sales.
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