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While inflation is just over 2 percent, one product category has become as much as 20 percent more expensive.
After the crown pandemic broke out in Norway last spring, the demand for bicycles also increased. This has had a great impact on the price.
– If we compare prices with what they looked like on January 1, 2020, we see a 15 percent price increase on all bikes, says Are Vittersø, Norwegian manager at price comparison service prisjakt.no.
The first real jump, up 8 percent, came in late March last year, just after the first crowning shutdown in Norway. Prices have risen regularly since then, with normal price drops around Black Friday and other sale periods.
Demand has increased, but so have shipping prices and producer prices. Therefore, prices have also risen since March last year.
– From March 29 of last year to March 30 of this year, we see a 6.9 percent increase in the price of bicycles. If we look at all the bike products included, the increase is 10.4 percent, says Vittersø.
– Make conscious decisions
From January 1, 2020 to March 2021, on the other hand, the price increase for the entire bicycle category is 20 percent. This includes bicycles, helmets, cycling shoes, and the like.
In comparison, the entire sports and outdoors segment has seen a price increase of around 7 percent in the same period. If we look at absolutely all categories and segments, these have risen just over 2 percent, says Vittersø.
Prices in the bicycle category have thus increased ten times more than other prices.
– Why the price increase is so drastic, you shouldn’t speculate so much. But we are approaching the peak season to buy a new bike, so I think it is important that people are aware of the price increase in the market so that they can make conscious choices accordingly, he says.
The online newspaper has analyzed a couple of examples of price increases in XXL.
- Ghost Kato 2.9 for adults increased by 1000 crowns in mid-February. Compared to a year ago, the price is only about 500 kroner. While the price was NOK 4,995 from the end of August, it rose from NOK 5,999 from mid-February, Prisguiden. Is not showing up.
- Ghost Kato 2.7 HD LO Sidewalk 20 for Youth: The price increased by 1,000 NOK in mid-February this year, to 5,999 NOK. At that time, the price had been NOK 4,995 since September last year. The price dropped to 4,999 crowns a few days in March this year, according to Prisguiden.no.
Also read: The price grip gives conditions for Black Friday in XXL
Higher shipping prices
XXL confirms that bicycle prices have generally increased, and gives two main explanations:
– The price of some bikes is increasing both with us and in general in the market, and this is partly due to the very high shipping prices. In addition, the price of bicycle production has risen, Andreas Nyheim, XXL communications director, tells Nettavisen.
He says that most of the bicycles sold in Norway are made in Asia, and prices for transport from there are four to five times higher this year than a year ago.
– So sadly there will also be slightly higher prices for customers, but we are constantly working to buy bikes as cheaply as possible, he says.
The magnitude of the price increase will generally vary. The bike model, bike specifications, and country of production are some of the deciding factors.
– We estimate that purchase prices have increased between 5% and 15% for most models. Plus, there are more expensive shipments, which has the biggest impact on cheaper bikes, he says.
Low access to bicycles
Both Tek.no and NRK recently mentioned the short supply of bikes this year.
XXL sees that the supply of bicycles is generally lower this year than they expected. They ordered more bikes this year than last year, but some of the orders have been delayed or canceled.
– This is partly due to access to components. Bicycle production is a complicated process and you don’t have to have more than a few parts missing before the process is delayed, Nyheim says.
Also read: New report: this industry will be the winner in 2021
Furthermore, the maritime transport situation has been demanding, further exacerbated by the problems in the Suez Canal during the past week.
– We have several bikes, but we would like to have more. In the first half of 2021, we are not sure we will have enough bikes for everyone. There is high demand across all bike categories, Nyheim says.
However, he says they are constantly working to get more bikes, but cannot promise anything, especially now in the spring season.
– Competitive prices
Sport1 boss Ole-Henrik Skirstad says they too experience a greater challenge of access than previous seasons.
– This applies to the entire industry, says in an SMS to Nettavisen.
However, he denies that prices have risen this year.
– We do not have a general price increase. We must have the correct and competitive prices for our range, says Skirstad.
Fewer hybrid bikes on the market
Managing Director Olav Berve of the Felgen bicycle workshop in Oslo also confirms that prices have risen this year.
– There is little access to bicycles and bicycle parts in the world, and then prices go up too, he tells Nettavisen.
Also read: Reacts strongly to the closure: Large chains warn of massive layoffs
You don’t think we’ll see that many deals on bikes this year, maybe late fall.
Bevre says that many will buy electric bikes now. It also reduces the supply of ordinary bicycles.
– There are not many models of hybrid bikes on the market right now, he says.
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