I thought I'd take a crack at making some predictions for the year. 5 predictions for bike retail, and 5 predictions for the world of retail. In no particular order, here you go.
IN BIKE RETAIL
More bike retailers will move to click-&-collect.
Truly competing with online sales means competing online. Retailers will thoroughly build out their click-&-collect sites.
More bike retailers will become manufacturers.
Apparel and small hardgoods will be the first to be made by the local retailer. Once the retailer becomes the manufacturer, they will no longer be limited by MSRPs or territories.
Bike retailers will experiment with pop-ups.
Instead of waiting inside the brick and mortar, more retailers will open 1-2 day stores where cyclists congregate. Coffee shops, gyms, and trailheads will be the starting points.
200 bike retailers will close.
As some retailers grow, they are not growing the number of cyclists at the same rate. Only way they grow then is through market share.
A major cycling brand will go direct.
One of the top 10 cycling brands in the country will cut out the retailer network entirely. Instead selling direct to the rider.
IN ALL RETAIL
Stores will be open on Thanksgiving Day.
This is a no-brainer. For good or bad, the holiday of Black Friday is becoming more relevant than Thanksgiving. Bike retailers will still be closed though, still struggling to capitalize on the holiday.
Apple will update their in-store CX.
The customer experience at Apple is becoming antiquated. They will, again, revolutionize the way people shop. We will all say, “Why didn’t I think of that?” when they do.
FedEx and UPS will announce Sunday delivery.
With Amazon and USPS to launch delivering on Sunday, they will redefine the rules of making a delivery. UPS and FedEx will have to play catch up.
Showrooming will be encouraged.
Retailers are understanding that showrooming is not the death of a sale. They will promote it in store knowing that what the customer finds will match what they have.
Ship-to-store will grow.
Too many UPS packages were late or stolen this year. Customers will opt to ship to the store (or a UPS/FedEx location) giving retailers another chance to convert.
Thanks for taking the time to read this far. If you found value in this piece would you please consider sharing it on social? Thanks again. Donny