As teased in the preliminary results, 2022 saw bicycle sales down for Tandem Group by approximately 52%, albeit in comparison with an unusually strong level of demand during the Covid-19 lockdowns.
eMobility division sales (including e-bikes) were down notably too in 2022, however an uptick in e-bike sales in the lead up to Christmas has continued into Q1, up significantly in the same period compared to those in the previous year.
Bicycles
Pointing out data from the Bicycle Association which showed bike sales were at their lowest level in two decades – and emphasising those tough comparables against cycling’s lockdown boom, Tandem said the division continued to be challenging across all customer types, from independents to national retailers.
On the positive side, the group said: “We have continued to develop new and exciting ranges of children Falcon bikes, and Squish has continued to grow in popularity having won several awards in 2022.”
Tandem was encouraged by the sales trend at the end of the year, with December seeing bicycle sales hit their highest levels all FY2022
eMobility
For 2022, turnover in Tandem’s eMobility division (eBikes, eScooters, electric golf trolleys and mobility scooters) was down 46% across all of 2022. Christmas was a ray of light for this division as mentioned earlier – sales of eBikes in the run up to Christmas were 92% ahead in November and December against those in November and December 2021.
Encouragingly, that trend appears to have extended into 2023: “In our eMobility segment, we continue to see exceptional results in our eBike sales as people seek alternative means of transportation. Sales of eBikes have had a very strong start to the year, resulting in sales to 20 March 2023 more than three times those of the comparative period in 2022.”
Similarly, eScooter sales in November and December were 25% ahead of the comparative period in the prior year.
The group designed and developed a new range of eBikes under the Dawes and Claud Butler brands, due to launch in 2023. Tandem grew its national independent bike dealer network by 104 accounts from 1 June 2022 to year end.
Source : Cycling Industry
