TORONTO, Ontario (BRAIN)—The Bicycle Trade Association of Canada (BTAC) is reporting that bicycle sales by independent bicycle dealers (IBDs) have surpassed a quarter of a billion dollars at retail value.
Janet O'Connell, the executive director of BTAC, said: "Bicycling is one of the fastest growing recreational activities in Canada, and municipalities are increasingly embracing cycling as a mainstream mode of transportation as their citizens choose cycling for utilitarian and recreational purpose. The important contribution our vibrant bicycle industry makes to the Canadian economy represents an important argument, in addition to cycling's positive impact on health, the environment and congestion, for enhanced investments by governments at all levels."
Through its Data Capture Program, BTAC receives quarterly reports of unit and dollar sales by suppliers to the IBD market on sales of bicycles across multiple categories, according to a press release. Currently, an estimated 95 percent of IBD suppliers participate in the program.
For the full 2010 year (compared to 2009), unit sales were up 3 percent to 357,591 units, while wholesale dollar sales grew to $179,327,761, for an estimated retail market value of $251,058,855. The average unit price for bicycles in the IBD sector fell 3.27 percent from 2009, as suppliers made a concerted and successful effort to reduce inventory levels. The average retail bicycle price in the IBD sector was $702, providing consumers with higher quality bicycles at prices similar to, or lower than, the previous year.
Year-over-year, the road category of bicycles continued to surge, growing 21.13 percent in dollar sales for 2010, and 17.2 percent in unit sales. Youth and hybrid categories also recorded growth for the year. All grew at the expense of the 26-inch wheel category, which fell 13.17 percent in units sold and 15.58 percent in dollar sales.
"While overall growth rate in the Canadian IBD sector has slowed, a significant improvement in inventory levels in the final two quarters of 2010 point to a very healthy industry as we enter the major portion of the 2011 selling season," said Robert Jones, director of market research for BTAC.