Trek CFO says a lot more bikes are on the way after pandemic sales boom caused shortages

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'After everyone bought the toilet paper, they bought kids bikes and then entry-level mountain bikes,' Trek CFO Chad Brown told CNBC.

compared to the prior year, with particular strength in high-end offerings, NPD Group reported.

"After everyone bought the toilet paper, they bought kids bikes and then entry-level mountain bikes, and then as the supply started to get tight, it worked its way up," said Brown. There are questions about whether the soaring sales just pulled forward years worth of existing demand for new bikes or if stay-at-home orders and other pandemic-related behavior changes brought new people into cycling.

"There are all these people that are on bikes now. Whether they're using it for recreation or transportation or just as a way to social distance, it's such a great opportunity to get people outside and off screens, enjoying the bicycle," Brown said. And for now, months after the initial surge began, Brown said Trek, which is privately held, continues to see strong interest in bikes from consumers. "When you look at indicators like foot traffic and call volume and even just website traffic, we're still seeing a lot of pent-up demand," he said.

 

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