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Riding a bike sounds so old school. Remember when the dads of our dads rode their bikes to school? They flaunted colored flowered baskets and rode through the middle of the night. Well, guess what? The trend is back, and it’s better now.
As Phoebe asked ross,’ Tell me, why do I have to learn how to ride the bike?’
It’s because it has a spirit, and the spirit is dying (in Ross’s voice). Also, cardio on a bike is much better than paying a personal cardio trainer hundreds of bucks per month.
Does that sound like invest one time, enjoy a lifetime?
But what about the price? Why do I pay hundreds of bucks for a bike without a beanie as a seat?
The most challenging part people face while riding the bike is the seat and dangerous drive.
Foam bike saddles resolve seat issues, and the danger drives by separate bike rides in the US.
Many old-schoolers still opt for a bike because it is a better, cheaper, and healthier alternative to a car.
Imagine getting to your destination in less time. You will be avoiding all the traffic, and getting free cardio if you are a fitness freak. That’s what good bikes bring you, and they don’t come cheap.
Is Bike Prices Going to Decrease?
According to some analysts, bike prices are likely to decrease soon. This news could be good for cyclists who are looking for ways to save money on their rides.
The reason for this decrease is that there is a glut of bikes on the market. In addition, many bike companies are seeing increased demand from overseas buyers. All these factors have led to decreased prices for bikes.
Bike prices have been on the rise for quite some time now, with the average price of a bike reaching an all-time high in 2018. Many people are wondering if this trend is going to continue or if bike prices are going to decrease soon.
There are a few reasons why it’s difficult to say for certain whether bike prices are going to decrease soon. One reason is that there is always a demand for bikes, which means that manufacturers will continue to produce more and more bikes to meet this demand.
However, it’s also important to consider how bicycle prices have increased over time and how they could potentially decrease in the future. For example, bicycle prices have increased because of rising fuel costs and inflation rates; both of which could potentially decrease over time.
Why Are Bikes So Expensive?
For one, bikes manufactured in the USA bring a lot more usability. The ride is more promising than those manufactured outside the USA. Moreover, you will not get a cheap bike with bespoke quality and riding experience.
Depleted stocks have limited bike accessories and manufacturing, which affects production. Lesser production and more demand have increased the prices up to 15% from last year.
Biden’s administration calmed the situation by imposing 25% tariffs on Chinese-made bicycles. This entity is one of the major reasons for bike prices to surge.
The COVID-19 pandemic has also increased prices. People have started to invest in bikes and other workout equipment to stay fit and slim.
The minimum price range of a bike starts from $350 and can go as high as $1000. This pricing would’ve been 15% less if bought in 2021.
Why Should I opt For a New Bike Instead of Second-Hand?
For beginners, riding a new bike might not be the best choice. Yes, you can get a $150 road bike as a commute to travel from one of your houses to the office. But what about the quality?
People who sell second-hand bikes are either selling for two reasons
- Of their long stay under the shelters or
- Some fault that isn’t mendable.
Buyers still opt for these bikes for learning purposes. Some bikes will have their chains come off, brakes shattered, handles broken, and whatnot. You wouldn’t want to be in such a situation where you are new to biking.
There are a few reasons you should buy a new bike instead of opting for a second-hand one.
To begin with, when you buy a new bike, you can be sure of its quality. Second-hand bike owners may be selling after long-term use. As a result, their quality may have deteriorated.
Besides, new bikes come with warranties. If something goes wrong with the bike, you can take it back to the shop and get it repaired or replaced.
Finally, when starting, it is better to stick to a basic bike model. It’s better than opting for a fancy second-hand bike. The former may have more features than you need or be more difficult to ride.
How Is the Ketchup Effect Applied in The Bike Industry In the USA?
That sounds absurd. What does ketchup (food industry) relevant to the bike (mobile industry)? The idea sounds non-sense. Is it something about bringing ketchup from the store on your bike?
Before you skip, understand the ketchup effect.
Remember when we shook the glass bottles hard to get the ketchup out and gave another shake and then another, and the ketchup finally came out? Still, how is that related to BIKES?
Back in 2020, three things happened,
- Limited riding allowed per family in the USA,
- Gyms shut down with no timeline of re-opening, and
- So many other adversities,
People opted for bicycles. The demand rose to 63% by June 2020 and reached a market of 687 million dollars.
The market decreased to $6.8 million in December 2020 and again rose to $8.4 million in January 2021. Many manufacturers couldn’t keep up with the demand. Those who could, couldn’t find the accessories. With reprocessing time of 6 months at 50% labors, the demand kept rising as well as transport. To meet the need, the prices rose. Since then, the prices have kept rising, and what cost $2200 in 2020 is now a whopping $3700 in 2022.
Still irrelevant to ketchup, so keep reading.
The ketchup in the bottlehead is the accessories required to manufacture the bike. Those stuck and consistent push from the buyers has led to increased prices. Two conditions rise from this effect,
- In the deflationary phase, where the influx of demand for bikes leads to sellers decreasing price
- People have enough savings from the pandemic to buy expensive bikes
In situation one, there will be more bikes than the demand, leading to decreased prices. The industry is currently sobering up from high inflation, making many people wait. But, in situation two, buyers might opt for expensive bikes. The reason is that the prices will never come down but go up instead.
The bike industry is currently on the see-saw of high and low prices. The only problem that manufacturers see as a problem is transportation prices. The rise in fuel and steel has made it difficult for the bike industry to grow.
With that, what should you do?
The best time to buy a bike is now. The market will either stay at this rate or go up. If you have been planning to buy one, don’t wait any longer. If you are looking for a new bike, do your research. Buying a bike is a significant investment, and you don’t want to make a mistake.
Check different websites, read reviews, and find the best one for you. If you are looking for a second-hand bike, check the condition before buying it. Make sure you know how to ride a bike and are comfortable with it.
Final Thoughts
The ketchup effect is currently happening in the bike industry. The best time to buy a bike is now while the market is stable. Do your research before purchasing to ensure that you are getting the best deal possible.
