A review of 12 studies related to bike lanes and business. Key takeways are that shoppers by bike spend at least as much as drivers since they return more often, business owners consistently underestimate the share of customers who arrive by bike, and business owners often overestimate how far away their customers live. As a result, protected bike lanes are likely good for business.
Key quote …
While cyclists tend to spend less per shopping trip than drivers, they also tend to make more trips, pumping more total money into the local economy over time.