Images via Glam Shops
Walk into a Lululemon and you'll see 10-20% of their floor dedicated to menswear. I know Lululemon wants more men buying their clothing, as of January 2013 only 12% of their sales were to men. So what should Lululemon's first step be? My thought: they should be dedicating more of the store to men.
Retailers get caught in an anti-growth cycle. If the sales of last year don't show opportunity then big investment becomes too risky (especially in the case of a public company like Lululemon). Lulu sales to men are only 12%, so they dedicate 12% of the order and floor space to men, and surprise-surprise that year's sales to men don't top 12% for some reason. If Lululemon wants to attract more men, they're going to have to take a risk and dedicate more of their floor space and marketing toward men.
The reverse is true for many bike retailers. Dedicate 12% of the product mix and retail floor to women then don't be surprised when women's product sales don't break 12%. Sometimes, customers reflect the inventory- not the other way around.
To grow a women's market in bike retail we can;t be afraid to make some serious investments. In product mix, in floor space, in advertising, and in marketing. Women are 51% of the US population and control a large majority of household spending. In some major cities like Los Angeles, New York, and Miami the Gender Gap has flipped and women are earning as much as 19% more than men.
If a retailer is under-serving women, they are under-serving 51% of their potential market.
The first bike retailer that jumps on this, that dedicates 50% or more of their store to women (or even opens a women's only store) will win their local market. At the very least, every female cyclist in the city would visit once. For the right retailer, one visit is all they will need to win them over.
If you found this insightful, it would mean a lot if you shared it. Thank you - Donny