Analysis of the Norwegian Bicycle Market

       Online Sales Lead,Sports Stores as the Main Retail Channel in Norway

　　In exploring the bicycle market,comparisons between the U.S.and European markets are common,but significant differences between European countries are often overlooked.To better understand the bicycle industry across more regions in Europe,we have gathered data on the Norwegian bicycle market for analysis

(Data source: bike.research)

          Norway's Bicycle Market: Dominated by Multi-Sport Retailers

　　From our extensive collection of global brand data,we identified 181 active bicycle retailers in Norway.Unlike the U.S.market,which tends to focus on single-category retailers,the Norwegian bicycle retail landscape is dominated by multi-sport stores,which make up 68% of the market.This reflects the influence of Norway’s long,snowy winters and limited daylight hours on consumer preferences.Although specialized bicycle shops only account for 32%,they still form an essential part of the market.

          E-Commerce Thrives in Norway's Bicycle Market, with 80% Adoption

　　What is even more noteworthy is the widespread adoption of e-commerce in the Norwegian market.Over 80%of traditional bicycle shops and multi-sport retailers have established well-developed online sales systems,a proportion that is rare on a global scale.The remaining retail points are mainly small,independent operators who maintain close connections with their customers through unique services and strong community ties.

(Data source: bike.research)

           Norwegian Bicycle Market Revenue Estimated at Nearly 2 Billion NOK in 2023

　　Thanks to publicly available data,it is possible to estimate the total revenue of bicycle stores,which reached approximately 800 million Norwegian kroner in 2023.However,for multi-sport retailers,the proportion of their business related to bicycles remains unclear.Based on an analysis of business composition and consumer behavior,if we assume that cycling-related activities make up 30%of their revenue,it can be estimated that the total revenue of the Norwegian bicycle market in 2023 was slightly below 2 billion Norwegian kroner.It should be noted,however,that this figure relies on modeling from incomplete information.

(Data source: bike.research)

          Norwegian Bicycle Market Saw 40-60% Growth by 2019, Followed by Recent Decline

　　Looking back at the development of the Norwegian bicycle market in recent years,we can see a trend of steady growth.By 2019,market revenue had achieved a remarkable 40%to 60%increase,a performance that stands out even among other European countries.It is important to note that this growth was primarily concentrated in specialized bicycle stores,and data models have not yet fully captured the impact of category shifts in multi-sport retailers.Additionally,following a period of rapid growth,there was a sharp decline in recent years.

(Data source: bike.research)

          Norway's Strong Bicycle Demand: 185,000 Bikes Sold in 2023 with Higher Per Capita Revenue

　　The Norwegian bicycle market shows overall good health,despite the potential challenge of further unlocking cumulative revenue.Per capita bicycle revenue reached around 35 USD,significantly higher than the 24 USD level in the U.S.,highlighting Norway's strong enthusiasm for and demand for bicycles.Moreover,considering the current exchange rates,the similarity in bicycle prices between the two countries makes this market phenomenon even more intriguing.After adjusting for the ratio of adult to children's bicycle sales,it can be estimated that approximately 185,000 bicycles were sold in Norway in 2023.