Hot on the heels of The Pro’s Closet closing its doors, Buycycle is launching a new place to buy and sell bike components. They say this is a move to “fill a gap in the second-hand cycling market”.
Buycycle already serves as a forum to buy and sell over 25,000 bikes. The decision to expand into bike components, they say, comes at a strategic time as the global demand for bicycle parts is booming.
According to Buycycle, “recent reports” state that the global bike parts market is projected to reach $12.35 billion. And it will do so by the end of 2024. And then it’s supposed to “nearly double to $23.7 billion by 2034”.
This supposed rise in demand for sustainable, affordable, and upgraded cycling solutions gives Buycycle a unique opportunity to reach a broader audience.
What’s For Sale
Launching the new components marketplace in both Europe and the US will happen at the same time. When purchasing components, Buycycle will offer the same buying protection they currently offer for their bike purchases.
The Bike Parts Buyer Protection Plan will cover issues such as shipping damages, and discrepancies between listed and received items. Notably, Buycycle states there will be no cost to sellers to use the Buycycle platform.
What Buycycle Says…
With components in mind for quite some time now, Buycycle’s Co-Founder and CEO, Theodor Golditchuk, says this 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“.
Founded in 2021 by cycling enthusiasts, Buycyle has a goal of creating a trusted platform for the global cycling community to buy and sell pre-owned bikes easily. The marketplace is said to help cyclists find great bikes at a fraction of the original cost.
Expanding the marketplace to include pre-owned bike components seems to be a natural move forward in their mission to broaden the company’s presence.
