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to buy from you, but adapt your shopping experience to their lives, making it easier for them.
A failure to adapt The greatest threat to independent bike retailers isn’t competition, it’s stagnation. Falling into ‘business as usual’ can be a slow path to irrelevance. When retailers fail to innovate, they face a cascade of problems: shrinking margins, sluggish sales, stock mismanagement and ultimately a disconnect with their customers’ needs. But here’s the good news: adapting doesn’t mean losing what makes you unique. It means building on your strengths. By combining expert advice, personal service, and community connection with modern tools like e-commerce and data insights, you can deliver what today’s customers want without compromising your identity.
What customers really want Today’s bike shoppers aren’t just looking for a product; they’re searching for an experience. They want expert advice, personalised service and a sense of community. These are areas where IBDs have historically excelled, but without intentional efforts to innovate, even these strengths risk being overshadowed by convenience and price wars.
The choice to go their own way Bike retailers have a choice: continue business as usual or change tack. The latter requires courage, strategy and a willingness to change. This means: Embracing e-commerce: A strong online presence is no longer optional. Shops that combine the charm of local
service with the convenience of online shopping will stand out. It is not about converting your in-store customers to online customers but offering them a choice. How would they like to buy from you? How convenient is it to buy from you? A slick Click & Collect service will not only drive sales but increase footfall to the store, it joins the dots and makes you truly multi-channel. Better stock management: Understanding your stock allows you to create an action plan. Avoid over-ordering or running out of products to optimise sales and margin. Insightful, accurate data: Knowing exactly what’s
selling, how quickly and what needs to be reordered facilitates sound decision-making around pricing and how much stock to carry. Time-saving tools: Investing in technology that reduces the time it takes to perform everyday tasks to free up space for more meaningful revenue generation. Creating community: Beyond selling bikes, shops can host group rides, workshops and events to build loyal customer relationships through a loyalty scheme.
The opportunity to win The challenges facing independent bike retailers in 2025 are real, but so are the opportunities. By embracing change, leveraging technology, and doubling down on the qualities that make local bike shops special, IBDs can transform challenges into competitive advantages.
52 | Ju;y 202332 | February 2025
www.bikebiz.com
www.bikebiz.com
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