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While the UK cycling industry faces a seemingly ongoing post-pandemic downturn and decreasing consumer budgets, independent retailer Paul’s Cycles has reported a remarkable 30% year-on-year revenue growth.
Speaking about the 2024 performance, Paul’s MD, Tom Thornley, is keen to share the company’s strategies for success when selling high-priced products in a tough economic climate, at a time when the wider industry has faced redundancies and closures from both distributors and retailers.
The lay of the land
Cycling participation rates have returned to pre-pandemic levels, with only marginal projected growth, as the post-lockdown cycling bubble bursts.
Nearly half of UK consumers say that they are unable to afford to purchase a new bike outright, however, Paul’s Cycles reports a 30% increase in revenue and a 35% increase in units sold YOY.
Here, Thornley comments, “Amid the headwinds facing the UK cycling industry, we are humbled to report a success story in what is proving to be a very challenging time for many businesses.
“We are very aware that many are struggling to afford high-value products, and we have worked hard to align our purchasing and marketing strategies to ensure we can provide the best value items for our customers to continue growing our market share.”
The Paul’s Cycles approach
1. Assembling an expert team to offer pre and post-sale support
At the heart of the brand is a team of knowledgeable experts, trained to guide customers through purchase decisions and offer tailored recommendations based on individual needs and budgets.
Thornley notes that this offering of pre and post-sale care is key to the brand’s success, primarily through a robust online platform: “By offering nationwide pre‐sale advice from our experienced cyclists via telephone and supporting each purchase with both video and written post‐sale guides, we can enhance customer satisfaction and build lasting trust.
“This digital-first approach ensures that customers receive expert assistance at every stage, from personalised pre-sale consultations to efficient warranty processes and accessible aftercare support.
“While in-store services such as complimentary six-week tune-ups, test rides, and bike sizing further enrich the overall experience, the commitment to seamless online support truly empowers customers and strengthens their connection with our brand”, Thornley shares.
2. Increasing market share through product performance analysis
Data: Providing an in-depth understanding of the market. “Over the last year, we’ve been focusing on product performance analysis and strategic buying, leading us towards growing our market share in the adventure cycling categories, including mountain biking and gravel biking,” Thornley shares.
The strategy has proven successful, most notably with:
- A 191% revenue increase for the mountain bike (MTB) category
- A 432% increase in revenue for full-suspension mountain bikes
- Electric mountain bike (EMTB) sales were also lifted by the success of adventure cycling, with 21% more units sold and revenue increasing by 8%.
“These are the largest markets in the bicycle world but you need to know what is available in the market, provide exclusivity and need to offer the right value for money to succeed”, Thornley shares.
“MTB has always dominated, and as the market shifts, it’s now EMTB. Gravel biking is growing, and while the initial buzz has settled, we believe it will continue to expand once the right products are available.
“We think this ties into the decline of road cycling in the UK, largely due to poor road conditions and concerns about driver behaviour.”
3. Customer-centric success and streamlined marketing efforts
While Paul’s Cycles tracks data closely through product performance, competitor benchmarking and digital engagement, understanding customer feedback is key to spotting trends before they emerge in analytics.
“For example, customer feedback revealed the need for faster warranty support. We streamlined our internal process and increased the number of employees trained to provide support, enhancing efficiency and ensuring greater peace of mind for our customers.”
Monitoring reviews, repeat customer rates, and direct engagement are vital to their approach. “By listening to customers, we introduced a 14-day, free reservation period to address delays in Cycle to Work scheme vouchers and prevent stock issues,” Thornley explains.
When working with restricted resources and budgets to promote high-ticket items, Paul’s Cycles has found success by focusing on core marketing areas that have proven effective in the past. Rather than attempting to cover every channel, the company has prioritised marketing efforts across paid media and SEO, maximising impact where it matters most.
The brand also re-engages and retains existing customers through its mailing list. Thornley notes, “By sharing tailored promotions, product launches, and timely deals directly, we’ve seen a notable rise in open rates over the past six to nine months. We have found that clearance deals and exclusive offers sent via email drive immediate sales and significant traffic surges by timing to align with customer shopping habits.”
Speaking of recent performance and the year ahead, Thornley concludes, “During the last 12 months we have forged new partnerships with globally renowned brands like Trek bikes and have some exciting conversations lined up for 2025 with some major industry players to expand our premium product offerings”.
