RETAIL SURVEY 2011 in association with
Would you say the workshop is more or less important to your business than this time last year?
More............................................................52.0% Less ................................................................1.1% The same importance ..........................46.9%
In the past year have you increased online business?
Decreased online business..................11.2% No................................................................27.8% Grown it slightly ....................................34.4% Grown it significantly ..........................10.0% Doubled trade online ..............................2.2% More than doubled online trade ........4.4% Just begun to develop online ............10.0%
It’s astounding to see an almost unanimous verdict toward steady or increased business generated via the mechanic. Over half see added value in the often larger margin gathered from repair work over shop floor sales.
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If you turn a profit this year, what percentage will be channelled back into the business
1% to 10% ..............................................18.8% 10% to 30% ............................................15.6% 30% to 50% ............................................15.6% 50% to 75% ............................................14.6% 75% to 100%..........................................35.4%
A slow and steady pattern is once again emerging. Could social media have played its part as the internet continues to evolve? Experts certainly seem to think that with invested time here, businesses can continue to expand online portals.
In the past 12 months, which of these sectors has seen a marked rise in demand in store?
Leisure/sit-up and beg style bikes........41.6% BMX..................................................................28.1% Road ................................................................56.2% Hardtail MTB ................................................16.9% Full-suspension MTB..................................12.4% Tandem..............................................................4.5% Downhill & Slopestyle ................................1.1% Cyclocross ........................................................3.4%
4X........................................................................1.1% Folding ..............................................................6.7% Electric ............................................................16.9% Fixed gear ........................................................6.7% Touring ............................................................15.7% Time Trial ..........................................................3.4% Cargo bike ........................................................5.6%
We’d have put money on electric and cyclocross bikes having generated higher interest in the past year, yet both still still lag far behind more traditional requests from customers.
Which month best suits the retail timetable for a trade show?
January ..................................................................................15.5% February ................................................................................71.1% March......................................................................................12.4% April ..........................................................................................3.1% May............................................................................................2.1% June............................................................................................1.0% July ............................................................................................0.0% August ......................................................................................0.0% September ..............................................................................3.1% October....................................................................................3.1% November................................................................................8.2% December ................................................................................0.0%
With perhaps the largest differences year-on-year, the response here reflects the need to prop up one’s business while trading conditions still concern. Last year 33.1 per cent voted in favour of just a 10 to 30 per cent re-investment of profits.
What will profit channelled back into the business be spent on?
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Store security ..................................................12.5% Staff wage or hiring ......................................17.7% New store..........................................................20.8% Developing online trade ..............................38.5% Expanding stock ..............................................38.5% Paying off loans/supplier debts ................30.2% Store vehicles ..................................................10.4% Marketing ..........................................................41.7% Redecoration ....................................................26.0%
Paid for marketing has surprised us by topping the poll in this multiple choice question. The intention is clearly there for independents to challenge online, though paying off supplier debts may prove a priority for many.
BIKEBIZ.COM
Believe it or not, there are 12 months to choose from, yet it’s clear that the front line has the most time to spare for suppliers in the first three months of the year, particularly February.
Which of the following have, or continue to cause your business concern?
Rent Rises ................................................................18.6% Suppliers selling out of key lines ....................37.1% Complete bike price rises ..................................22.7% Grey import competition ..................................47.4% Online competition ............................................70.1% Supermarket or chain store competition ....33.0% Disposing of waste..................................................6.2% Courier charges or inflexibility ........................14.4% Lack of hireable mechanics ................................8.2% Banks refusing loans............................................13.4% The state of the economy ................................58.8%
Plenty of concerns raised by our panel. The state of the economy and, in turn, the availability of affluent customers seems to trouble many, yet it’s online competition, occasionally combined with grey import sales, that once again cause a headache.
BIKEBIZ DECEMBER 15
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