{"id":70772,"date":"2024-12-18T13:12:54","date_gmt":"2024-12-18T11:12:54","guid":{"rendered":"https:\/\/bikehub.co.za\/news\/?p=70772"},"modified":"2025-01-10T13:08:04","modified_gmt":"2025-01-10T11:08:04","slug":"2024-bike-hub-year-in-review","status":"publish","type":"post","link":"https:\/\/bikehub.co.za\/news\/2024-bike-hub-year-in-review\/","title":{"rendered":"2024: Bike Hub Year in Review"},"content":{"rendered":"\n

As 2024 draws to a close, let\u2019s take a look back at the year on Bike Hub. <\/p>\n\n\n\n

Our Quarterly reviews<\/a> have shown that demand is stabilising across categories, indicating that the Covid-induced supply chain crisis is resolving. Against this backdrop, we’ve seen positive growth in website usage and marketplace activity, particularly in the gravel and e-bike categories.<\/p>\n\n\n\n

Here\u2019s a look at the key moments and trends that defined 2024.<\/p>\n\n\n\n

<\/p>\n\n\n\n

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<\/p>\n\n\n\n

Headline Statistics<\/h2>\n\n\n\n
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Classifieds Activity<\/h2>\n\n\n\n
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A monumental R249 million<\/strong> in sales was proactively confirmed by users\u2014that\u2019s over R20 million<\/strong> a month. This is even more impressive considering the actual number (including unreported sales) is significantly higher.<\/p>\n\n\n\n

Over 63 000 adverts<\/strong> were viewed 24.6 million times<\/strong>, generating 156 thousand unique leads<\/strong>\u2014an average of 2.44 leads per advert<\/strong>.<\/p>\n\n\n\n

Interestingly, the average advert value has remained relatively stable (R12,805<\/strong> vs R12,690<\/strong> in 2023), suggesting that inflation hasn\u2019t trickled into the second-hand market, or that discounted new bike prices are keeping second-hand pricing in check.<\/p>\n\n\n\n

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Ads created by category<\/h2>\n\n\n\n
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Avg. value by category<\/h2>\n\n\n\n
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Category trends<\/h3>\n\n\n\n
    \n
  • Ads created<\/strong>\n
      \n
    • Dual suspension MTB remains the largest category but has dropped from 7,382<\/strong> ads created in 2023 to 6,822<\/strong> in 2024, a 7.5% decrease<\/strong>.<\/li>\n\n\n\n
    • Gravel bikes have grown significantly, increasing from 871<\/strong> ads created in 2023 to 1,130<\/strong> in 2024, a 29% rise<\/strong>.<\/li>\n\n\n\n
    • Dual-suspension E-MTB listings are up 9.5%<\/strong> from 851<\/strong> in 2023 to 932<\/strong> ads created in 2024.<\/li>\n\n\n\n
    • Hardtail MTB has shown the largest drop in listing volume, down 16%<\/strong>, from 6,057<\/strong> in 2023 to 5,074<\/strong> ads created in 2024.<\/li>\n\n\n\n
    • Road bike listings have remained steady at 6,177<\/strong> ads in 2024 compared with 6220<\/strong> in 2023.
      <\/li>\n<\/ul>\n<\/li>\n\n\n\n
    • Pricing dynamics<\/strong>\n
        \n
      • Dual suspension E-MTBs remain in the top spot for average price, but this has dropped from R80,515<\/strong> in 2023 to R74,845<\/strong> in 2024. A 7% decrease<\/strong>.<\/li>\n\n\n\n
      • Similarly, road E-bikes saw a 4.3% drop<\/strong> in average listing price from R60,221<\/strong> in 2023 to R57,635<\/strong> in 2024.<\/li>\n\n\n\n
      • Gravel bikes have seen their average listing price increase by 8.6%<\/strong> from R37,618<\/strong> in 2023 to R40,767<\/strong> in 2024, putting them above dual suspension MTBs, which have remained flat year-on-year.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n

        <\/p>\n\n\n\n

        Classifieds Searches by Brand<\/h2>\n\n\n\n

        Classifieds searches are a great indicator of demand as well as perceived second-hand value. In 2024, Specialized and Trek have continued their relentless accumulation of search share. This suggests that the sustained marketing efforts of these heavyweights are paying off in second-hand demand, ultimately making upgrades easier for owners of these brands.

        In 2024:<\/p>\n\n\n\n

          \n
        • Specialized<\/strong> has entrenched its long run at the top of the podium with an increase in search share from 24.6% to 25.67%<\/strong> between 2023 and 2024.<\/li>\n\n\n\n
        • Trek<\/strong> has continued to gain ground, with an increase from 14.6% to 15.9%<\/strong> of searches.<\/li>\n\n\n\n
        • Scott<\/strong> has remained steady compared to 2023, holding at 11.43%<\/strong>.<\/li>\n\n\n\n
        • Cannondale<\/strong> and Giant<\/strong> have both lost search share. Cannondale has dropped from 9.12 to 8.23%<\/strong>, and Giant from 8.56% to 8.11%<\/strong> in 2024.<\/strong>
           <\/li>\n<\/ul>\n\n\n\n
          \"\"\n\t\t\t\n\t\t\t\t\n\t\t\t<\/svg>\n\t\t<\/button>
          Classifieds searches by Brand 2021 to 2024<\/figcaption><\/figure>\n\n\n\n

          <\/p>\n\n\n\n

          <\/p>\n\n\n\n

          Trend spotting<\/h2>\n\n\n\n

          The following stood out as our top trends for 2024:<\/p>\n\n\n\n

            \n
          • Listing price inflation is stable<\/strong>
            Average listing prices on Bike Hub rose an insignificant 0.9% <\/strong>(after a 4% jump in 2023). Notably, E-MTB saw a 7% decrease in average listing price and E-road a 4.3% drop.

            <\/li>\n\n\n\n
          • Reported Sales on Bike Hub were up 5%<\/strong>
            2024 saw R249 million<\/strong> in confirmed sales take place on the platform, an increase of 5% from 2023.

            <\/li>\n\n\n\n
          • Gravel keeps growing<\/strong>
            29%<\/strong> more gravel bikes were listed on Bike Hub in 2024, and the average listing price increased 8.6%<\/strong>, unlike other key categories which remained flat

            <\/li>\n\n\n\n
          • Market leaders consolidating<\/strong>
            Specialized and Trek continued to gain share of search queries while the rest of of the top five brand dropped slightly in 2024.
            <\/li>\n<\/ul>\n\n\n\n
            \n\n\n\n


            Please drop any questions you have in the comments and we’ll do our best to answer them. Here’s to many smiles on two wheels in 2025!<\/strong>
             <\/p>\n\n\n\n

            All stats for the period 17 December 2023 – 16 December 2024.<\/em><\/p>\n\n\n\n

            <\/p>\n","protected":false},"excerpt":{"rendered":"

            As 2024 draws to a close, let\u2019s take a look back at the year on Bike Hub. Our Quarterly reviews have shown that demand is stabilising across categories, indicating that the Covid-induced supply chain crisis is resolving. Against this backdrop, we’ve seen positive growth in website usage and marketplace activity, particularly in the gravel and […]<\/p>\n","protected":false},"author":2,"featured_media":70814,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5332],"tags":[200],"featured_location":[338],"class_list":["post-70772","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry","tag-year-in-review","featured_location-bottom-row"],"_links":{"self":[{"href":"https:\/\/bikehub.co.za\/news\/wp-json\/wp\/v2\/posts\/70772","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bikehub.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bikehub.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bikehub.co.za\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/bikehub.co.za\/news\/wp-json\/wp\/v2\/comments?post=70772"}],"version-history":[{"count":27,"href":"https:\/\/bikehub.co.za\/news\/wp-json\/wp\/v2\/posts\/70772\/revisions"}],"predecessor-version":[{"id":74586,"href":"https:\/\/bikehub.co.za\/news\/wp-json\/wp\/v2\/posts\/70772\/revisions\/74586"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bikehub.co.za\/news\/wp-json\/wp\/v2\/media\/70814"}],"wp:attachment":[{"href":"https:\/\/bikehub.co.za\/news\/wp-json\/wp\/v2\/media?parent=70772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bikehub.co.za\/news\/wp-json\/wp\/v2\/categories?post=70772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bikehub.co.za\/news\/wp-json\/wp\/v2\/tags?post=70772"},{"taxonomy":"featured_location","embeddable":true,"href":"https:\/\/bikehub.co.za\/news\/wp-json\/wp\/v2\/featured_location?post=70772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}