1) Increased Demand for Bicycles

The pandemic has precipitated an upswing in the demand for cycling as a safe and salutary outdoor pursuit. This inclination is due to persist as people favour active transport and leisurely cycling.

The high demand for bicycles has not yet been fully met, causing many first-time cyclists to alter their purchasing decisions. In the wake of the pandemic, the European Union has broadened its Green Deal initiatives to include cycling and has declared a European Cycling Strategy. Perhaps this will bring reality in line with the growing trend.

In 2016, the ECF published a report which classified and partly quantified the benefits of cycling in the EU. The study discovered that cycling generates economic advantages of 513 billion per annum in the 28 EU Member States, equating to over 1000 per resident. It illustrates that cycling has benefits that extend beyond targeted, separated domains like transport or environmental strategy to multiple other areas that fall under the EU's competence, including industrial policy, employment, health, and social policy. The advantages of cycling also reach into societal areas such as refugee integration, mobility access, and employment opportunities.

The European Union Cycling Strategy outlines the current state of cycling in the EU and identifies opportunities, obstacles, and provides three potential scenarios for cycling mobility by 2030. In light of this, the Expert Group established four objectives, which act as guiding principles for policy recommendations.

Four objectives are central to this document's 2030 goals.

1. Increase cycle use by 50% on average throughout the EU.
2. Halve rates of killed and seriously injured cyclists (per km cycled).
3. Invest 3 billion in cycling from 2021 to 2027, and 6 billion from 2028 to 2034.
4. It is strongly recommended that cycling is treated as an equal partner in the mobility system.

Integrate cycling seamlessly into all applicable EU funding streams and fully consider electric bicycles in e-mobility policies. Member States ought to have the latitude to implement reduced VAT for bike acquisitions.

Under the EU Green Public Procurement criteria, it is essential to evaluate if passenger cars can be replaced by bicycles. The elimination of harmful financial incentives is necessary to eradicate unsustainable mobility behaviour. Revamping the EU Energy Taxation Directive will enable the polluter to pay the external costs of car use.

Aside from the European Union perspective, if we take a universal look at the cycling industry, we can see that a "new normal" has emerged. This new state will be characterized by consumer behavioral changes that have been recently entrenched and have gained strength. The pandemic has significantly disrupted consumers' way of life, work and leisure. People who work from home have come to appreciate the benefits of personal mobility and recognize the value of cycling. They enjoy cycling for pleasure and are expanding their overall appreciation of the cycling experience.

Conventional belief dictates that either owning exclusive products or controlling the distribution channels were the key to winning over cyclists. And these factors still hold significance. However, in 2021 and onward, the industry can connect with consumers wherever they may be and cater to their needs with tailored solutions.

The secret to success lies in bringing together inventive ideas with efficient distribution, reliability, and proficiency in providing novel experiences.

It was risky to make predictions while we were still discovering the complete effects of COVID-19. Analysts who examined the initial months of lockdowns are sure that shifted in consumer behaviour caused by the pandemic will persist. The pandemic resulted in the development of new patterns.

The upward trend of the cycling industry will be driven by four persuasive elements.

1. Changing lifestyles. With people spending more time at home for work and leisure, there's been a shift in their recreational choices. As travel shrinks, people are dedicating more finances to family activities near their homes and investing in themselves. There is no indication of an abrupt reversal of this trend. Furthermore, the closer people are to their homes and workplaces, the more likely they are to adopt cycling as their preferred leisure activity. As cycling becomes more thrilling and engaging, individuals will increasingly prioritize health, financial stability, safety, wellbeing, and fitness.
2. The sheer pleasure of cycling is being discovered anew. In pursuit of greater ease and reduced stress, people demand the minimalism and liberty that cycling affords. The industry is making a concerted effort to stimulate this experience. Leading brands are better equipped than ever to captivate the public with personal health, well-being, transportation and utility. Consumers are willing to spend extra money to fulfil their transportation, health, wellness, and fitness requirements. A lot of the expenditure was formerly directed externally, such as on clothing, travelling, dining out, and entertainment. Since individuals are unable to travel, they are willing to put money into items that provide personal enjoyment and engagement. They will continue looking for experiences that offer connection, utility, and self-improvement.
3. Bicycles have now become the latest "joy ride" for grown-ups. During pandemic, individuals could cycle, maintain social distancing, and fulfill their craving for social interaction amongst individuals who share common interests, family, and friends. Individuals crave experiences that are not only a substitute for live events, but also amplify them. Cycling satisfies this urge. People are receptive to exploring new realities and investing time in innovative, immersive, physical, and social experiences. Cycling enthusiasts now place great importance on the sport due to its numerous emotional, intellectual, mental and physical benefits.
4. Human power started to replace the vehicles on the road. Recent research indicates that cycling not only serves as a means of transportation, but also as a way to engage in sport, recreation and performance activities.The next decade is set to bring forth more changes and increased usage, as cycling gains wider social acceptance, safety, personalisation, convenience, reliability as a means of personal mobility and more diverse experiential options. We are all adjusting to change and new consumer behaviour patterns. Maximising the potential offered by the upcoming waves of opportunity calls for greater investment, effort, passion, agility and responsiveness.