Square Data Finds Consumers Buying More E-Bikes and Scooters as Gas Prices Rise
Ever since gas prices started to rise in March of this year, consumers have felt more pain at the pump. Data from commerce technology company Square finds that since then, consumers are turning to electronic modes of transportation to curb the effects of inflation and supply chain, purchasing e-bikes and e-scooters at an increasing rate.
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E-transportation is becoming increasingly popular as people look for alternative ways to get around town, which is good news for bike shops and sporting goods retailers. Sales of e-bikes are up 15% this year, while sales of e-scooters are up 4%. E-bikes are up the most in California, increasing by more than 60%.
Square Data Shows Impact of Rising Cost of Living
Square also found that sales of traditional bikes and scooters have increased in certain regions as consumers look for more budget-friendly alternatives.
Scooter sales are up the most in:
- Tennessee (15X)
- Georgia (7X)
- Michigan (5X)
Bikes had the highest increase in:
- Wisconsin (2X)
- Alabama (2X)
- New York (93%)
Safety is also top of mind as sales of helmets have increased by 17%. While most consumers are buying e-bikes and e-scooters in-person to test out the merchandise, the number of e-bikes purchased online has doubled compared to last year. This shows a continued shift to online as consumers look for convenience and speed when it comes to purchasing.
Square Data compares payment transactions within the US between March 1 – June 11 2022 vs March 1 – June 11, 2021.*
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Editorial Note: This post is from a Company Press Release and may have been modified for clarity.