As the cycling industry begins to steady itself after an unprecedented boom in summer sales as a result of Covid-19, more questions are being asked regarding availability and supply.
After closing shop at the start of the lockdown in the UK, Hope technology opened again in April with Covid secure measures in place. Although initially, the measures did restrict production at Hope, the company managed to get manufacturing back to pre- COVID-19 levels.
By this time, the cycling industries bike boom had really taken hold and distributors and retailers began clamouring for product from all its suppliers, Hope said.
Despite investing around £1.5 million so far in new machinery and taking on manufacturing staff during the summer, Hope technology said it was cautious about any expansion of staff and production capacity. However, there have been additions to staff to work night shifts to help increase production. To help with efficiency, it has also paused production launches which will resume sometime next year. However, the company’s recent expansion has still not satisfied the demand for Hope products.
Furthermore, it appears that manufacturers globally are having issues with demand outstripping supply and shops are continually searching for manufacturers and distributors who have stock.
Hope technology is shipping out around 25-30% more product than last year, and are seeing the current demand grow by well over 100%. Inevitably this mismatch will lead to shortages in some shops, Hope said. The company continues to work hard to ensure that products are available to all retailers and therefore to customers globally.
Hope thanks its customers for their continued support and understanding at these difficult times.