Depending on whom you believe, the COVID pandemic bike boom is a.) still in full swing, b.) at a plateau or c.) on its way down.
On a purely anecdotal basis, I'd choose b. I think I'm seeing about the same number of cyclists as I saw a year ago, which is more than what I saw in pre-pandemic times. But there's even more car traffic, with bigger cars. My guess is that people didn't ride as an alternative to driving. Rather, they pedaled to work because bus or train service was reduced or curtailed, or they just didn't want to ride buses or trains as the virus overwhelmed the city. Or they rode recreationally--and some will continue to do so--because it was a way to get outside and engage in a fun and healthy activity that still allowed them to keep the mandated social distance.
On the other hand, there is a part of the bike industry that's been in decline from its pandemic peak: excercise bikes and trainers. For a time, they were all but impossible to find--and expensive--when gyms were shut down or, in some places, people were locked down.
Some suppliers suffered the fate of some, mostly smaller, bike shops: They experienced a surge in business that depleted their inventories. But, at the same time they ran out of parts and bikes, supply chains were disrupted because of everything from factory shutdowns in China to truck drivers and dock workers who quit their jobs or got too sick to work.
Then there is the case of Saris. You probably know about them for their indoor trainers and bike racks. But they also make "bicycle infrastructure products" like parking racks and lane barriers. The latter part of their business would seem to be holding steady as more cities and towns build lanes and parking systems. On the other hand, sales of indoor trainers have fallen off a cliff as gyms have reopened and people who were under "hard" lockdowns could ride outdoors again.
One of Saris' problems, though, is the opposite of the bike shops I mentioned: They had plenty of inventory. In fact, they had just as many trainers to sell this year as they had last year and the year before.
They have experienced what company founder Chris Fortune (great name for someone in business) calls "COVID whiplash." It's affected other companies like Peloton, Wahoo and Zwift, who also make trainers. They, too, suddenly had excess inventory as people returned to their gyms or to outdoor riding.
As a result, Saris is reorganizing its debts through the circuit court system in Wisconsin, where the company is based. It’s been reported that Fortune wants to sell the company but hopes to do it in a way that won’t affect his employees’ jobs.
