"'Thirty or 40 years ago, people would ride a bike for economic reasons, but our research suggests that nowadays a bicycle is more a lifestyle addition, a way of demonstrating how affluent you are,' said Michael Oliver, who wrote the report for market researchers Mintel.
His research reveals that bike sales are being driven by 35- to 45-year-old family men. Where this age group might once have treated themselves to a sports car – in an attempt to hang on to their youth – they now invest in a luxury bike instead."
Bike retailers are also noticing the trend.
Thanks to The Overhead Wire