Change is the New Normal

Change is the new normal as we move day by day further into the Covid-19 pandemic, things become less clear as to when and what the outcomes will be. It’s all just guesswork at this point. But an underlying assumption is that it is going to last for a while. Until there is a vaccine or reliable treatment discovery, social distancing, extreme cleanliness, and reduced crowd sizes will be a continuing reality. While specific restrictions may be lifted in the next month or two, the way you are operating today may very well be the new normal for potentially another 12-18 months. The “curve” is simply peak hospital usage, not the disappearance of the virus. Here are some things to be looking out for if you are in a position to remain open and still sell bikes. If you are only doing repair work or closed, once the severe restrictions are lifted, you will again most likely not go back to business as usual in the next few months, or perhaps a bit sooner.

Inventory 

Make sure you have enough. I’m not suggesting you take a gamble, but there appear to be some shortages coming. Hopefully, things will even out a bit, but if you are going to be attempting to keep afloat, don’t get caught out with too little. I am NOT suggesting you go too overboard here but try and get some handle on what you may need. Stores currently open, even on the one on one limited entry plan are reporting relatively stable sales.

Discounting

Should you be discounting at this point? Probably not. By most accounts, bikes are being sold with very little resistance. Customers are not out browsing; they are out buying. Even last year’s bikes, particularly entry to mid-level, can probably be priced at or close to full retail. You are most likely operating at a reduced amount of dollars in sales with uncertain product availability. Make every sale count.

Service Center

Give your service center a solid look at how you can improve efficiencies and maximize profits. Many stores have instituted mandatory cleaning/disinfection fees for each repair, which needs to be done for everyone’s safety but should also have a value placed on it. While many shops are running with a lighter workforce, and service demand is high, workers become fatigued very quickly. At this time, service turnaround for non-essential commuters can probably be extended beyond what you would typically be comfortable doing. This situation is long term, not something you can continuously grind through, and keeping safe and fresh is paramount.

Communications

Talk to your customers! Now may not be the time to beat people senseless with promotions but continue reaching out via all available avenues to let your customers know what is happening and what your business will feel like when they arrive.

12-18 Months

That’s the estimate for a vaccine. Until that time, your stores will most likely be operating or reopening the way that retailers operating today are for that time frame. Hopefully, that proves to be wrong, but it’s highly likely. Look to the grocery stores and elsewhere for cues to what your operations will look like moving forward. The stores that are “open” today would be a reliable indicator of how things will continue. Be prepared with enough gloves, masks, and cleaning supplies to keep up that same level of attention. Curbside, home delivery, and increased web sales should remain as options. Older customers will most likely be looking to avoid unnecessary contact for quite some time. As I write this, my county has enacted an essential business mask rule that any employee that interacts with the public wears a mask. It seems this will become the norm, and do not expect that to relax anytime soon.

Employees 

Many retailers have laid off or have had a significant number of employees decide they did not want to work. When the time comes to ramp back up, a high likelihood of a percentage of these employees may have moved on to other jobs, interests, re-evaluated priorities, or even left the area. Please stay in contact as often as it seems prudent to keep up with your laid off and nonworking staff to be in the loop as to who may not be coming back. Likewise, you may also have opportunities to obtain some great new team. The unemployment numbers are staggering, and there could be some excellent employees becoming available.

Stress Reduction & Staying Fresh

This situation we are all in is stressful and exhausting for everyone – period. Be very aware of stressors you can control to some degree. Being open to your regular hours with reduced staff and higher levels of stress may be too much. Consider reducing hours slightly to accommodate the extra rest needed at this time if that’s possible. Ensure that employees feel as safe as possible to retain your key performers and avoid getting someone sick, which could close you down entirely for a time.

Positive Thinking & Resources

Think about the strength you are gaining each day facing what feels not only surreal but somewhat insurmountable. Focus on being as resilient as possible and also look ahead a few steps as to what you can build on from the situation you are facing. Be proud that you weather the most incredible storm, and look to the possible opportunities on the backside of this crisis. Remember to focus on the long game again; this is going to be our new standard for a fair amount of time. Try as hard as possible not to become overwhelmed by today’s issues but to work through them one at a time and if something is too big of a time or energy sink move on. Last, take solace in knowing that you are doing everything you can to be here today and work for tomorrow. Be well, wash your hands, and look forward! Also, remember that the NBDA staff is working hard to bring you relevant and timely information – use these resources to stay informed and to learn from other retailers’ best practices and lessons learned. Bicycle Retail Radio has had several excellent podcasts recently, and there is a constant stream of valuable webinars as well. If you need extra guidance or only someone to speak with, you can contact me david@nbda.com or reach out to another retailer, you know. Just having a conversation with someone in the same shoes as yourself can go a long way in making you feel like you are not alone and connects you to strategize best practices.

Words by David DeKeyser