Soaring Oil Prices Lead to Spike in Demand for Bicycles | Be Korea-savvy

Soaring Oil Prices Lead to Spike in Demand for Bicycles

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SEOUL, June 29 (Korea Bizwire)The growing popularity of outdoor activities and high-flying oil prices are prompting many Koreans to take up cycling, data showed Tuesday.

Online shopping mall Auction conducted merchandise sales data analysis sorted by category from May 24 to June 23, which showed that demand for bicycles and accessories had increased.

Sales of ordinary bicycles jumped by 29 percent and classic bicycles by 18 percent.

Sales of minivelos were up by 57 percent and fixies by 17 percent.

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Electric bike sales jumped by 47 percent and sales of electric scooters and hybrid bicycles increased by 20 and 28 percent, respectively.

Sales of protective gear, helmets, racks, bags, baskets, brakes and other components have also increased.

Image Credit: Yonhap /

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