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Cycle sales drive growth at Cash Converters

Cash Converters

More active lockdown lifestyles have seen cycle sales skyrocket – almost doubling – at UK Cash Converters stores after they re-opened their doors to customers in June.

With lockdown restrictions slowly easing throughout the UK, Brits are now enjoying the great outdoors more than ever, and it looks like more and more families are gearing up to get on two wheels during the school holidays this summer.

New stats from the UK’s leading retailer of second-hand goods, Cash Converters, show bike sales have soared by 74 per cent since re-opening, as thousands turn to its booming high street bargain stores for their new bicycles.

The figures, which cover the initial three-week sales period after non-essential stores were reopened across the UK last month, show the huge spike in cycle sales after lockdown compared to the same period previously.

And it’s not just bikes. More savvy shoppers aiming to bag a bargain are turning to Cash Converters stores and its hugely popular online webshop, with sales of leisure equipment, phones, laptops and the latest tech all rising significantly in the wake of the coronavirus pandemic.

Peter Hall, CEO at Cash Converters UK said: “The past few months have been challenging for everyone across the country, with restrictions and limitations greatly impacting the ways we’re able to work, exercise and socialise.

“Now that we can get out and about more freely again, many people have turned to new hobbies and outdoor activities, and we’ve seen huge increases in the sale of so many second-hand goods in our stores – particularly bikes. We’ve also seen increases in other hobby items, such as musical instruments and fishing equipment.

“As a second-hand retailer our prices are always extremely competitive and more people are starting to look for used rather than new because the quality is still there, but it comes with a lower price tag. When it comes to gaming, jewellery, baking equipment, DIY tools and everything else in between, people are turning to Cash Converters more than ever.

“And it’s not just about buying from us, if people are keen to unlock the value of their unused goods, jewellery, tech and other household items – or they need to make space in their home – they’re able to sell those to us for cash there and then or use our buy back service.”