Innovation Within the Bicycle Market – UK – 2021
Chris Hadley Consulting was asked to assist a UK company who was seeking to explore opportunities with a new product. Several end user markets had been proposed with one of these being the bicycle market.
Research involved a mix of desk and trade research with the former exploring how the rising trend for cycling, and one that was boosted during the 2020 COVID-19 lockdowns, could offer this new product a viable opportunity. Trade research sought to provide a balanced view from retailers and those in sectors such as bicycle maintenance and hire about both their own and likely customer interest.
Initial conclusions were positive for the client. Strong demand, with further growth in cycling, is expected to grow potential for those new to this market. Although the sector is currently served by a range of suppliers there is strong interest for something different making the landscape ripe for a breakthrough product such as one that is proposed.