Bright Outlook For Bike Retailers

02 Jul 2020 | 08.50 am

Bright Outlook For Bike Retailers

One4all research

02 Jul 2020 | 08.50 am

Cycling could boom in Ireland as commuting habits change in response to the Covid-19 pandemic according to research carried out for One4all.

The company says that 60% of workers are open to rethinking how they travel to work, with a combination of improved road infrastructure and concerns over using public transport expected to result in more than ever turning to a bike for their commute.

The popularity of cycling as a leisure activity soared during the lockdown, and now many workers are looking towards bicycles to help them get fit, go green and save money.

As a result of this positive sentiment, the research found that half the workforce would sign up to a workplace Cycle to Work scheme if it was offered by their employer.

This is a major jump from 2019, when similar research by One4all found that only 14% already availed of the scheme, and only an additional 13% said they would consider signing up.

Sales director Terry Spence (pictured) said:  “With social distancing difficult to achieve on public transport, we’ve found that well over half of Irish workers are open to cycling to work, with almost eight in ten seeing cycling as a good way to maintain social distancing.”

Under the Bikes4work scheme, bicycles and safety equipment can be purchased up to the value of €1,000 and this is set off against income tax.

This would represent a saving of 52% for employees on the higher rate of tax and 31% for employees on the basic rate of tax, so anyone who spent the full €1,000 would save €520 (higher rate) or €310 (basic rate).

The bicycle and safety equipment can be paid for over a maximum 12-month period through salary deductions and can be availed of once every five years.

 

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