RETAIL SURVEY 2011 in association with
Retail detailed
Each December BikeBiz calls on independent retailers to share their feedback on the year’s trading, conerns and aspirations for the future. Mark Sutton gathers 100 individual responses from the front line in another revealing insight into the specialist business...
By what percentage have your annual profits increased or decline year on year?
up 50% or more........................................9.3% up 30% – 50% ........................................7.2% up 10% – 30% ......................................32.0% Barely changed........................................25.8% down 10% – 20% ................................15.5% down 30% – 50%....................................6.2% down 50% or more..................................4.0%
Erring slightly more toward the positive, the majority of retailers haven’t lost ground, though few have excelled either. Those that are down year-on-year have largely only performed marginally worse.
What portion of business do Cycle To Work sales represent?
What figure best fits your annual takings for cycle clothing, footwear and related accessories at retail value?
£0 to £1,000............................................14.6% £1,000 to £4,000......................................5.2% £4,000 to £8,000......................................7.3% £8,000 to £16,000 ..................................7.3% £16,000 to £25,000..............................17.7% £25,000 to £40,000..............................11.5% £40,000 to £60,000 ................................9.4% £60,000 plus ............................................27.0%
Last year BikeBiz confessed to having underestimated the value of this segment. Once again it seems the majority are doing far better business than we’d anticipated, with nearly a third doing 60k-plus at retail value annually.
If you’ve had to make any cutbacks this year, where have these been made?
No C2W Business ..................................23.6% Between 1% and 15% ........................52.6% Between 15% and 30% ......................19.6% Between 30% and 45% ........................2.1% 50% or more ..............................................2.1% All business ....................................................0%
The worth of Cycle to Work seems to have remained despite a turbulent start to the year with the re-working of the valuation process. As of January 1st the scheme will become subject to VAT, which could dent business here.
Are you selling more or less bikes with finance deals than this time last year?
Around the same....................................53.0% More............................................................25.7% Less..............................................................21.3%
Cutting staff numbers, hours or pay ....29.1% Seeking more competitive utilities ......41.9% Seeking cheaper courier options............17.4% Stock levels ....................................................70.9% Overhead costs or premises move ......15.1% Trimming sales to focus on repairs ........18.6%
Suppliers beware, tough times are to result directly in tough measures as excessive stock levels and lake of cash flow appears to be a big concern at present. Without a bumper Christmas to boost funds it could be a slow start next year.
What percentage of your annual takings come from the workshop?
1% to 20% ..............................................38.8% 20% to 40% ............................................34.7% 40% to 60% ............................................16.3% 60% to 80% ..............................................3.1% 80% to 100% ............................................7.1%
Bit of a non-mover this one, looking more or less identical to last year’s graph. The ACT has now partnered with MoneyWay for those interested in giving customers extended payment terms – worth a look if you’re a member.
14 BIKEBIZ DECEMBER
Interestingly, when compared to last year’s top end stat, it seems the workshop-only model is taking off slowly, but steadily. Last year just two per cent posted in the top bracket. The stats do hint at a gradual progression towards more workshop business.
BIKEBIZ.COM
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