5 Things Your Independent Bike Shop Needs Now
Competition in the bike retail industry is steep.
For independent shops that want to thrive in the volatile market, it can seem that they are at the mercy of the constantly shifting economy, emerging trends and increased competition from retail giants.
The good news? Your independently run shop can make a positive impact on both your community and the industry. Put the same passion you have for the bicycling industry towards these five key strategies, and you’ll no longer chase the frontrunners.
1. Take advantage of your size.
Today, consumers trust small and mid-sized companies that they feel can meet their needs with precision, speed and integrity. As an independent bike shop, you have the unique ability to connect with local cyclists on a more personal level than many retail giants while proving that you’re an expert in your category.
2. Foster the relationship between you and your supplier.
In showing their loyalty to independent retailers as opposed to large chain stores, many consumers have realized that their dollars carry more weight with such shops. As today’s cycling enthusiasts explore their expansive buying options, they realize that buying from an independent bike shop supports local business and helps put small merchants in powerful position.
3. Sell to the right cyclist.
Generally, 80 percent of what we purchase as consumers is a repeat purchase. While supreme customer service is a necessity – especially in the interest of receiving referrals from happy shoppers – it is important to chase that 20 percent of consumers who want to try a bicycle for the first time or are interested in exploring your inventory to supplement their active lifestyle.
4. Do a little extra leg work.
Complete customer service no longer starts when shoppers enter your store and drops when they exit. Make sure you and your team are there for everything they need. Today, that may mean helping them to make it home with their purchase or making the effort to provide regular servicing and check-ups. No longer is going the extra mile a gift to your consumers. Rather, it is expected.
5. Draw them in.
Continue to draw consumers deeper into your store by featuring exciting bicycles and gear towards the back of the shop. This merchandise will encourage them to explore more of what you have to offer.
You care about the success of your independent bike shop, but most importantly, you care about the part you play in your local cycling scene. Work closely with a supplier that understands the demands of your business and you can ensure you’re the go-to for the athletes in your community.
Check out what’s trending and, together, we’ll stand out.