Selfridges has entered the cycling market for the first time with a new bike shop in its Oxford Street flagship store. The Bike Shop will be located in the department store’s The Corner Shop until mid-August when it is set to move to a permanent location. The shop will sell a variety of e-bikes, push bikes, including personalised bamboo bikes, and accessories both in-store and online.
Selfridges said that the UK’s growing interest in cycling meant that this was the perfect time to launch The Bike Shop. It said that the store aimed to show that e-bikes were easy to use, energy efficient, emissions free and perfect for commuting.
Mintel comment:
"This is a timely move by Selfridges. Sales of bicycles in London reportedly boomed during lockdown, as did their usage: TFL data shows that weekday cycling use peaked at 138% higher than its normal levels (on 28th May), while at weekends it peaked at 287% higher (on 9th May). Research for our report Department Stores – UK, April 2020 shows that Selfridges has a younger, more affluent customer base, so its focus on e-bikes, which tend to be significantly more expensive than regular pedal cycles, is targeting a growing segment of the market. Our report Cycling – UK, April 2020 found that e-bike sales grew by 40% in 2019 to 100,000 units. Even now that lockdown measures have been eased, bicycle usage is still significantly above average in London as commuters seeks to avoid tubes and trains, so it seems as if Selfridges will be well-placed to capitalise on the cycling boom."
