BikeBiz Bicycle and cycling retail news
Buycycle, the international marketplace for premium pre-owned bikes, is launching a dedicated marketplace for bike components.
The move aims to fill a gap in the second-hand cycling market, making it easier for cyclists to buy and sell essential parts.
Tapping into a growing market
With a current offer of over 25,000 bikes, Buycycle has become a well-known destination for cyclists around the world looking to make a sale or to find a pre-owned bike.
This latest move intends to further strengthen the platform’s foothold, with the decision to expand into bike components coming at what the business calls “a strategic time”.
In sharing the news, Buycycle points out that “the global demand for bicycle parts is booming: According to recent reports, the global bicycle components market is projected to reach $12.35 billion by the end of 2024 and nearly double to $23.7 billion by 2034, growing at a steady compound annual growth rate (CAGR) of 6.7% Fact. MR).”
The business further states “this rise in demand for sustainable, affordable, and upgraded cycling solutions has, therefore, created a unique opportunity for Buycycle to cater to a broader audience that the company is ready to take on.”
What’s included in the new marketplace
The marketplace will launch simultaneously in both Europe and the U.S., simplifying domestic transactions across both regions.
To maintain the level of customer protection Buycycle already offers for bikes:
- Bike Parts buyer protection plan will cover issues such as shipping damages and discrepancies between listed and received items.
- Selling on the platform comes at no charge, making it easy and cost-free for sellers.
A natural progression for Buycycle
Buycycle’s co-founder and CEO, Theodor Golditchuk, has reportedly had components in mind for quite some time now.
Talking about the expansion: “Launching a component marketplace is a natural step for Buycycle. We’ve consistently heard from our community that there’s a need for affordable, quality parts.
“By integrating this into our platform, we’re making it easier for cyclists to upgrade or modify their bikes without breaking the bank. This move is grounded in customer feedback and strong market demand.”
