Bicycle industry with a tailwind – Significant growth in sales and turnover also in 2020/2021
The bicycle industry has seen dynamic growth in the last few years. Following the mountain bike boom came the e-bikes/pedelecs, enjoying great popularity not only in Germany but also worldwide as a crucial ecological alternative for daily mobility.
As a leading credit insurance and factoring agent in the bicycle industry, GfK has had its share in this dynamism and the upswing of recent years. Since 1994, we have accompanied the entire bicycle industry throughout the entire supply chain. From component manufacturers to producers and wholesalers, at GfK we help secure sales and close the corresponding financing gaps.
We also have new challenges this year! Who could have imagined 5 years ago that due to interrupted supply chains or missing parts, massive problems in production could occur, causing difficulty in planning for 2-3 years. The last two years have not been easy on the sales side either. Because of store closures and hygiene regulations, the bicycle industry has had to react quickly and flexibly time and time again. For this purpose, we provided the necessary limits and offered flexible financing alternatives.
The bicycle goes back a long way – it was first invented in Germany in 1817 by a gentleman named Baron von Drais, otherwise known as the Laufmaschine or Draisine, and it was patented as the first two-wheeled, steerable, human-powered means of transportation. At that time, it was still made almost entirely of wood. In 1840-1870, there were pedals and rotating balls on the bicycle; 1880-1910, the development of the penny-farthing bicycle; and 1890 -1950, bicycle culture initially ebbed and gave way to the automobile, which was seen worldwide as the mode of transportation of the future. It was in this period, around 1890, that the first bicycle racing events took place, and the road bike was born. After the wars and world economic crises, there was then a bicycle boom in the dynamic 60s and 70s; the mountain bike was invented and began a worldwide triumphal procession. From 2000 to today, development has focused on apparel, bike sharing, alternative concepts and, most importantly, e-bikes. We are excited about what is to come. We look forward to accompanying our customers and business partners in this sector into this exciting future.