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“They also desire physical support, which is why we are very proud of our customer service alongside our 4.7 out of five on Trustpilot. Whether this is having their free 6-8 week service, or utilising our long term service plan offering we see them really enjoying having somewhere physical to go.” So what are TEBS’ expectations for the year ahead, both for them and the industry as a whole? “The market continues to be challenging, this is clear to see,” said Kidger. “High inventory levels at a brand level across the world has meant brands have specific strategies. This is causing market disruption, and the value of an electric bike has come down in price, due to this competitive nature of the industry currently. This can be felt from a retailer perspective too - various business strategies are being deployed, most probably based on the specific business’ needs and requirements.
“Everyone knows the longer-term benefits of an electric
bike. As an industry, plus outsiders, need to continue to highlight the key benefits of the electric bike for use in the masses. Fiscal stimulation is required. We have the Cycle to Work schemes which have been very important for adoption, albeit some challenges for use with certain sections of the population, but a nationwide, or localised, price support scheme for greener travel is needed also. This has benefited European countries majorly such as Germany or France.”
20 | July 2024
Kidger said The Electric Bike Shop will continue to be at the forefront of the electric bike market, with its specific strategy of supporting the customer wherever they would like to research, buy and service their electric bike. “We continue to be committed to physical retail - this will never change. It is so important. “In times like this there are always going to be winners and losers, that is business. We believe The Electric Bike Shop is set up to be on that positive side of the current climate.”
Kidger continued: “A key part of 2023 and into 2024, as well as before this, has been the investment into the longer- term future of The Electric Bike Shop. This includes capital investment in new physical locations, strategically placed to make sure our customers can find us when they want to shop online. “Not only the physical locations have had investment, but majorly tech infrastructure has also been invested in – from website architecture to cloud based data warehouses. This all too time, money and focus in 2023. “This investment was in excess of seven figures, which is substantial, however it is required to make sure the business delivers on its goals. 2024 starts the ball rolling, with the business ahead of its strategic plan as it continues to strive towards the goals.”
www.bikebiz.com
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