Ryan Atkinson has continued his travels and brings us the latest in how brands, suppliers, and merchants in bicycle retail are feeling during some uncertain times. There are bright spots and some optimism, particularly among retailers.
Themes from industry events
- Bicycle Leadership Conference (suppliers)
- NBDA Retailer Summit (both) - join the Midwest event in Bentonville in May
- CABDA West (both)
- Uncertainty among suppliers, optimism with dealers
- Tariff confusion and frustration
- Throttle electric bikes
- Used and pre-owned
- Tap into health/beauty, active lifestyle, prioritize health
- Profitability
- Ecommerce
March online sales performance
- US sales +9% and orders +7%
- CA sales -18% and orders -32% (sporting goods generally -6.9%)
- Dollar growth was fueled by road and mountain bikes, plus the surprise performance of comfort and commuter bikes. Electric bikes had a surprising slump.
- CA non-essential discretionary down, calls from concerned clients
- US consumers getting ahead of tariffs
Cyclingnews article on DeMinimis (Ryan’s rant)
- Bummed how they characterized Bob Margevicius’ testimony
- Bob is a VP for Specialized
- He’s an exceptional representative for our industry on trade issues
- Nobody knows EU, Asian, and US manufacturing/trade as well
- Tireless contributor and just awarded PFB lifetime achievement award
- Author conflated legitimate tariff frustration with DeMinimis
- DeMinimus exemption increased to $800 in 2016
- PFB has lobbied for change since
- Reason for so much cheap product disrupting IBD market
- Cheap D2C electric bikes, cheap helmets and lights on Temu, etc
- Unsafe for consumers, erodes value proposition for retailers, takes away high margin retail sales
- I want to encourage listeners not to spread click bait rumors just because they think the headline gets attention
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If you have any questions about the topics discussed in this episode of Around the Workstand or if you have ideas for new topics we can cover, schedule a time to meet with Mark Still here or email mark.s@workstand.com.
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