Sales of electronic bikes and scooters at the outdooring specialist, Halfords, have surged by 230 per cent year on year, while overall like-for-like cycling sales have increased 59.1 per cent. These are the latest results to emerge as the retailer posts its trading update for the 20 week period to August 21st.
Halfords CEO, Graham Stapleton has cited an increase demand for staycation-related products throughout the period, as well as a surge in activity in the bicycle and scooter sector, driven predominantly by the measures set in place during the UK’s lockdown and the matter that many families turned to the outdoor pursuits for entertainment.
The retailer has seen growth across all product categories, with an increase of 76 per cent in its performance cycling business, Tredz. Halfords has also delivered growth in cycling services, up 17.5 per cent in the 20-week period, boosted by its free 32-point bike check and the Government’s Fix your Bike Voucher scheme.
“This 20-week trading period started on 4th April and therefore coincides with the most significant impacts of COVID-19 in the UK,” said Stapleton. “Our number one priority has always been the health, safety and wellbeing of our colleagues and customers, and on behalf of our Board, I would like to express my sincere gratitude to our dedicated colleagues and loyal customers for their support and patience during such a challenging time.
“We are pleased to have delivered a strong trading performance during the period. We have been able to move quickly in order to capitalise on the continued strong demand for cycling products, with sales of electric bikes and scooters up 230 per cent year-on-year, while cycling services have been boosted by our free 32-point bike check and the Government’s Fix your Bike Voucher scheme. ”
Despite the surge in popularity that cycling and the scooter industry has seen over the last 20 week period, Halfords has said that it remains cautious over the outlook for the rest of the year.
“There is still significant uncertainty around the impact of Covid-19 and the macro-economic environment in the coming months, and as a result, we are cautious on the outlook for the remainder of this year,” said Stapleton.