作者 戴莉娟 1月10日，国际高端骑行品牌 SPECIALIZED（业内常称 "闪电"）的京东官方旗舰店发布闭店公告，宣布当日起停止店铺销售，并将于 2026 年 3 月 3 日后完 成全面闭店操作。这一调整随即引发国内骑行圈的关注。 作为全球知名的专业骑行装备品牌，SPECIALIZED 在国内骑行爱好者群体中认知度较高，其京东旗舰店是不少消费者选购公路车、骑行配件的线上渠道之 一。 无独有偶，此前也闪电线下门店宣布关店。2025年12月24日，闪电上海蟠龙天地店宣布闭店。 疫情期间催生的 "大众骑行热"，曾让高端自行车市场迎来爆发式增长，万元级公路车一度供不应求。但 2024 年后，这股热潮快速退潮，市场格局发生根本 性转变。 休闲骑行的跟风用户大量流失，曾经为 "打卡晒图" 购入入门装备的消费者逐渐退场，导致市场需求结构大幅调整。更关键的是，此前快速扩张的高端公路 车市场已趋于饱和，禧玛诺、捷安特等品牌的库存过剩水平已达 20% 至 45%，行业从 "增量扩张" 全面转入 "存量博弈"。 闪电的 "双关店"，本质是市场退烧后，低效渠道与品牌核心需求的矛盾集中爆发。 从线下来看，上海蟠龙天地店这类位于商业 ...

Core Viewpoint - The cycling trend in China has rapidly cooled down, leading to a significant decline in participation and sales, particularly affecting the industry and related companies [5][6][8]. Industry Overview - The cycling industry experienced a surge in popularity post-2022, driven by increased health awareness and improved infrastructure, resulting in a 30% year-on-year growth in mid to high-end bicycle sales in 2022 [8][20]. - However, by August 2024, demand began to decline sharply, with a notable increase in second-hand sales as many buyers reported impulsive purchases that went unused [5][6][15]. Market Dynamics - Major brands like Shimano reported a 60% drop in net profit, primarily due to a 40% decrease in sales in the Chinese market as the cycling craze waned [5][27]. - The once high-demand bicycles are now facing significant price reductions, with discounts ranging from hundreds to thousands of yuan, as inventory levels rise [15][18]. Consumer Behavior - The initial enthusiasm for cycling was largely driven by social trends rather than genuine interest, leading to a quick decline in participation as attention shifted to other activities [21][22]. - The financial and time commitments required for cycling have proven to be significant deterrents for many, with entry-level costs starting at 1,000-3,000 yuan and additional expenses for safety gear and accessories [20][24]. Industry Impact - The rapid expansion of production capacity during the peak cycling trend has resulted in excess inventory, with companies like Merida and Giant reporting inventory overages of 45% and 40%, respectively [26]. - Despite the downturn, there remains a core group of dedicated cycling enthusiasts, with some segments of the market still showing growth, particularly in high-end products [27][29]. Future Outlook - The decline in cycling popularity presents an opportunity for domestic manufacturers to reassess their strategies, focusing on high-end products and brand development to capture a more significant market share [31][32].

Core Viewpoint - The cycling trend in China is cooling down faster than expected, leading to a significant decline in demand and a rise in inventory issues for companies in the industry [6][7]. Group 1: Market Trends - The cycling boom began post-2022, driven by increased health awareness and improved infrastructure, resulting in a 30% year-on-year growth in mid-to-high-end bicycle sales [9][10]. - By August 2024, market demand showed a noticeable decline, with a significant increase in second-hand bicycle sales as many buyers reported impulsive purchases that went unused [6][11]. - Major brands like Shimano reported a 60% drop in net profit, primarily due to a 40% decrease in sales in the Chinese market [6][20]. Group 2: Reasons for Decline - The initial surge in cycling popularity was largely fueled by a release of pent-up demand during the pandemic, but this interest was not sustainable as many participants were driven by trends rather than genuine interest [13][14]. - The high costs associated with cycling, including the price of bicycles and necessary gear, deterred many potential long-term participants, leading to a "retreat" from the sport [14][17]. - The time commitment required for serious cycling participation also posed a challenge for many, particularly among working-class individuals [17]. Group 3: Industry Impact - The rapid expansion of production capacity during the boom has resulted in excess inventory, with companies like Merida and Giant reporting inventory overages of 45% and 40%, respectively [20]. - The shift in market dynamics has led to significant profit declines for many companies, with Giant's net profit shrinking by nearly two-thirds and Accell Group reporting a loss of £3.25 billion [20][24]. - Despite the downturn, there remains a core group of dedicated cycling enthusiasts, indicating potential for future growth if companies can adapt and focus on high-end products and brand development [24].

Core Viewpoint - The cycling trend in China has rapidly cooled down, leading to significant declines in sales and profits for related companies, as many consumers who initially joined the trend have now exited due to high costs and time commitments [4][20][21]. Market Trends - In the first half of 2024, mid-to-high-end sports bicycle sales saw a significant increase of over 20% year-on-year, driven by the "cycling boom," but demand has noticeably declined since August 2024 [5]. - The number of second-hand bicycles for sale has surged, with many sellers indicating impulsive purchases that led to unused equipment [5][9]. - Major brands like Shimano reported a 60% drop in net profit, primarily due to a 40% decrease in sales in the Chinese market as the cycling craze waned [5][24]. Consumer Behavior - The initial surge in cycling popularity was fueled by a heightened focus on health and outdoor activities post-pandemic, but this interest has shifted as consumers seek new trends [7][15]. - Social media platforms played a significant role in promoting cycling, but the trend has now shifted towards "retreating" from the activity, with many users citing financial and time constraints as reasons for quitting [8][19]. Industry Impact - The rapid expansion of production capacity and investment during the peak of cycling's popularity has led to excess supply, resulting in significant inventory pressures for manufacturers and retailers [21][22]. - Companies like Merida and Giant reported inventory excess rates of approximately 45% and 40%, respectively, as of Q2 2024 [23]. - The high-end bicycle market, which was once thriving, is now facing price reductions of hundreds to thousands of yuan, with some models seeing price cuts of over 30% [13][24]. Future Outlook - Despite the downturn, there remains a core group of dedicated cycling enthusiasts who continue to invest in high-end products, indicating potential for recovery in the market [24][28]. - The industry is encouraged to focus on developing high-quality domestic brands and products to capture a larger share of the market, especially in the mid-to-high-end segments [26][28].