Thousand Oaks, CA – Human Powered Solutions LLC (HPS) and Sports Marketing Surveys have announced the launching of three waves of consumer research to track and quantify the impact of COVID-19 in the reshaping of American consumer bicycle buying and riding habits, both now and in the future.
Starting in the second quarter of 2020, with a survey in the middle and concluding during the second quarter of 2021, the Bicycle Buying and Riding During the Pandemic Primary Consumer Research study will provide subscribers with actual attitudes and intentions of U.S. consumers either actively participating, or returning to cycling relative to new bicycles, e-bikes, used bicycles/e-bikes, bike share usage and indoor cycling.
“We are including the probable waves of economic stimulus affecting American consumer bicycle buying and use between the second quarter of 2020 and the second quarter of 2021," noted Brad Hughes, Managing Director and a founding partner of Human Powered Solutions. “The focus of the three waves of the study is to determine the actual attitudes and intentions of consumers either actively participating or returning to cycling relative to new bicycles, e-bikes, used bicycles and e-bikes, bike share usage and indoor cycling,”
Jay Townley, Resident Futurist for Human Powered Solutions added, “…right now some bicycle industry executives and managers are predicting a second bike boom as sales of new and used bicycles, e-bikes and indoor trainers are off the charts and demand for service work is at all-time highs – with more Americans riding bicycles some cities have turned streets over to bicycling and walking only!
However, retail inventories are being depleted and the supply chain is essentially disrupted. There is a high probability that new bicycles will be in short supply and many models and brands will be out of stock for an extended period.”
Noting that supply would eventually catch up, an HPS press release asked what consumer intention to buy and ride bicycles will be during each of these waves of supply and demand compared to their changing financial condition to commit to a purchase.
“Providing guidance and understanding consumer response to this and related questions is what this three-part study of end-users is all about – to bring the facts about what the American consumer intends to buy, how much they intend to spend and how they intend to use the bicycles they acquire, new, used, rented or shared!” answered Keith Storey, President of Sports Marketing Surveys, the research company that will be conducting the three waves of consumer research and writing the reports.
An HPS press release stated that high-quality consumer research like this would normally cost a company around $100,000 – but by committing to a subscription that includes all three waves of research, brands and companies can be a beneficiary of this strategic planning and decision making research for a total cost of $10,489.
For more information visit www.humanpoweredsolutions.com.