As a business that gives a platform to people to sell their used bikes and attracts a large amount of traffic for people looking to buy second hand bikes, we were delighted to read of some research from across the water in the US that owners of used bikes there ride more, buy more bicycle-related apparel/accessories, and visit bike shops more often than owners of bikes that have been bought new. Used bike owners also ride their bikes to work more often than owners of new bikes.
The finding comes from the American Bicycling Consumer Study, a piece of research conducted by US consulting group The Gluskin Townley Group.
A further finding from the consumer research which is of great interest to a bicycle commerce business like us is that used bike owners in the study were generally wealthier than those who purchased a bike new. 22% of owners, with household incomes of $200,000 or more, owned a bicycle they purchased second hand, compared to 12.5% that purchased a bicycle new. Indeed, 64% of owners of used bicycles were planning to purchase a new bicycle in 2012, spending on average $1,000, which was more than owners of new bicycles plan to spend on a new bicycle.
The anecdotal evidence of people visiting our site to buy used bikes backs up the initial findings of this US study. From our experience, our buyers are real/dedicated cyclists. They will spend on a used bike, whatever the price is on it, as long as there is value in the purchase.
They also have a certain amount of knowledge of the biking scene. They know what they want and what to avoid in terms of buying a bike, whether it be used/second hand or not.
We’re not entirely sure they bike more, but you’d think they would after buying more gear.
The full results of the American Bicycling Consumer Study will be released in May and we hope to bring you some more of its findings. In the meantime don’t forget to visit our marketplace for used bikes and much more.
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