Bike hire schemes spark interest in ownership, new data shows

With more people than ever using bike hire schemes in the UK and almost 25 million journeys completed between September 2022 and September 2023, research from bike retailers at Paul’s Cycles reveals that the increase in rentals correlates with higher cycling interest.

Taking a deep dive into search interest in Beryl cities, they found:

• Hiring schemes are unlikely to discourage sales, with no drop in interest during the first three months after launch, and only two locations seeing a drop a year later (Cornwall at -44% and the area of Dorchester, Weymouth and Portland at -50%).

• Instead, hiring schemes are more likely to increase interest in bike purchase, with 6 out of the 11 locations analysed showing a positive increase in searches three months after launch.

The Beryl impact on cycling interest

The team at Paul’s Cycles analysed search data from 11 locations where bike rental scheme Beryl operates, comparing search volumes 3 months post-launch and 12 months post-launch.

A year after the rental scheme launched, search interest for ‘bike hire’ increased in all but three locations, with only Eastleigh and Stevenage seeing a decrease, and Worcester staying stable.

With more than half of British consumers stating that the cost of living crisis is preventing them from being able to purchase a new bike, and 1,700 monthly UK searches for ‘bike rental’, hire schemes are making the sport more accessible for all.

However, Paul’s Cycles Managing Director Tom Thornley explains that this will likely result in more bike ownership over time: ”New riders now have a low-barrier entry point into cycling, which only expands the cycling audience. This increase in rental cycling leads to higher engagement with the sport, and with that, more potential bike owners.”

The Beryl impact on bike sales

Reviewing the search data for purchase-related terms in cities where Beryl operates, it becomes clear that hiring schemes are unlikely to discourage sales, with no drop in interest three months after launch, and only two locations seeing a drop a year later.

Six out of the 11 locations analysed had a positive increase in searches three months after launch. Leeds had a 143% increase, Worcester a 100% and Greater Manchester and Plymouth both experienced a 50% increase.

In most locations, search interest for ‘bike sales’ stayed stable a year after launch, and some (Greater Manchester, Leeds and Plymouth) had a positive increase of 22%, 55% and 40% respectively.

Thornley notes the impact on bicycle retail, “Ownership brings long-term value, both financially and personally. While renting can feel flexible, the costs quickly add up and often don’t provide the custom fit, convenience, or sense of pride that comes with owning your own bike. Owning a bike allows for upgrades, personal adjustments, and immediate availability, no app or reservation needed!”

While rising living costs must be considered, Thornley points out that for riders regularly using bike share schemes, ownership can actually pay for itself in less than a year, “with schemes like Cycle to Work and interest-free financing, it becomes an investment in personalised health, and exploration.”