Bike shops boomed early in the pandemic. It’s been a bumpy ride for most ever since

For the nation’s bicycle shops, the past few years have probably felt like the business version of the Tour de France. Early in the pandemic, a surge of interest in cycling pushed sales up 64% to $5.4 billion in 2020, according to the retail tracking service Circana. The boom didn’t last. Hobbled by pandemic-related supply chain issues, the shops sold all their bikes and had trouble restocking. Now, inventory has caught up, but fewer people need new bikes. It all adds up to a tough environment for retailers, although there are a few bright spots like gravel and e-bikes.