In the 1970s, the struggling bicycle industry in the U.S. was suddenly bolstered by the immense popularity of 10-speed bikes from Europe. This pattern of innovation causing a boom has happened several times throughout the history of the industry. Today, we are in another boom. This time it is being fueled by the popularity of electric bikes.
Surges of Sales
The bicycle market tends to have significant ebbs and flows. Sales cool off for a few years before some major innovation or event brings about a new surge. This happened in the 70s with 10-speed street bikes. Sales slowed after that boom before being reinvigorated by mountain bike sales. Again, they slowed down until Lance Armstrong’s rise to fame also renewed interest in bicycles.
Today, many bike makers have been experiencing years of declining sales. For most consumers beyond the most die-hard cycling fans, repeat purchases simply aren’t necessary. So, the traditional bicycle is struggling to keep its momentum in the market.
However, a new option is quickly gaining momentum and bringing new life to the $6 billion industry: ebikes. This innovation may be exactly what the industry needed to enter a new renaissance.
The E-Bike Revolution
E-bikes are growing rapidly. In 2017, sales more than doubled, according to the NPD Retail Tracking Service. Last year, they rose by 73% at specialty shops. Conversely, traditional bike sales fell by about 8%. Trek, an early adopter in the e-bike space, generated around 20% of its $1 billion annual revenue from e-bike sales.
As you may know, electric bicycles aren’t wholly new despite their recent popularity. It was innovations in the motors that allowed them to be lighter, more efficient and more convenient. These innovations transformed them from a novelty to a practical item.
The trend of growing electric bike sales is likely to continue for a while. People keep coming up with new ways to use them. Today, they are used for commuting, personal transportation, adventure biking and more. E-bikes are also immensely popular as rentals in city centers. Some innovators are pushing for using ebikes for cargo transport.
Perhaps innovations in e-bikes uses and technology will act as a microcosm of the overall industry. As new ideas emerge, e-bikes surge. No one can know the future, but for now, it looks like e-bikes are on the upswing.
Find Your E-Bike
E-Lux Electric Bikes has a wide range of electric bikes for city travel, beach cruising, trail riding and more. Call (949) 440-1967 today to learn more about these innovative products.