Biking has begun to surge in popularity on a global scale as people look for ways to remain active but safe during the COVID-19 pandemic.
Priority Bicycles Founder and CEO, David Weiner, says demand has recently gone way up and bikes continue to sell out. "Phones, and emails, are ringing off the hook. Everybody who doesn't have a bike wants one."
Weiner's Priority Bicycles is also seeing sales stretch far beyond its headquarters in New York. While many businesses are reeling from the effects of the coronavirus pandemic, the bicycle industry has been fortunate enough to adapt.
"In the past, customers would make appointments to come to our showroom and see bikes themselves. Of course now, with the lockdown, it's a lot harder to have people come in here and the new virtual visit is allowing us to have customers from all over the world check out our bikes," Weiner told Cheddar.
Since the start of lockdown, the demographic of customers has shifted mainly from children to include adults as well. Weiner attributes the spike to more parents staying home and seeking leisure biking as a source of exercise for them and their children.
For Weiner, business has been so good that he started offering limited edition bikes — a service typically reserved for hotel campuses. For customers in New York City, the CEO said Priority Bicycles offers a limited edition bike and a one-of-a-kind service in order to keep everyone safe.
"Here in the city, we're able to offer contactless pick-up service where the bike ships to us, we assemble it, we sanitize it, lock it up outside, and the customer can come pick it up at a predetermined time."
Universal Music Group, which represents artists including Taylor Swift, Drake, and Ariana Grande, has removed its music from TikTok and accused the app of bullying and intimidation.
The average rate on a 30-year mortgage fell 0.06% last week. Although the rate is much higher than it was two years ago, the decline could relieve buyers already dealing with low inventory and high prices.
As millions of Americans are set to retire, John Carter, President & COO of Nationwide Financial, shares what to expect and how consumers of all ages can better prepare for their golden years.
The heated hearing began with recorded testimony from kids and parents talking about being exploited on social media. Throughout the hours-long event, parents who lost children to suicide silently held up pictures of their dead kids.
Adtalem CEO Steve Beard addresses a report from Safkhet Capital taking the short position on the for-profit education giant, plus why he believes there should be financial recourse for student loan borrowers misled by their institutions.
CEO of Americares Christine Squires shares how the organization is helping provide medical assistance in a time of increasing instability, war, and climate-related disaster.
Doug Clinton, Deepwater Asset Management managing partner, shares tips for investors looking to take advantage of the massive boom in artificial intelligence beyond Microsoft and Nvidia.