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Ask the Trade: Has Brexit influenced where and how people are spending money? | Cycling Industry News

Paul Thrupp, Cycling 2000
Not at this stage, but long-term our pricing and trading agreements with suppliers, as well as availability, may change where we source product.

Richard Sault, Salt Dog Cycling
As more of a bike accessories shop, not really. Looking around the trade shows and talking within the industry I think, bike-wise at least, UK designed brands like Forme and Orro have really upped their game. Each is really well priced, high quality and with good ranges.

Ruth Hargreaves, JD Tandems
No, the vast majority of products we sell are sourced from the Far East and that has not changed.

Have you seen, or do you anticipate a change in consumer spending habits as a result of any of the factors associated with Brexit?

Steve Baskerville, Bike Spanner
Are people spending less? I’m not sure. Are they being more careful when they spend? Hell yes. We noticed a big shift in spending habits during the last quarter of 2017. Previously it was a case of pricing a job and getting an almost instant approval, even on the tasks we’d listed as advisable but not essential. Now we are asked more and more ‘do I really need XYZ done?’ Ultimately people are still spending, but every penny now needs to be justified.

Our Christmas pop up Muc-Off shop was a great example of this. During Christmas of 2016 there was little to no thinking involved in a purchase. People were buying two, maybe three gift packs at a time, without hesitation. Christmas 2017 was different. We had to work hard for every sale we got. We still saw good sales growth year-on-year, but it was much harder come by.

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Ask the Trade: Has Brexit influenced where and how people are spending money?.