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Friday Retailer Flex – Episode 32

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Will bicycle retail never be the same?

Support the show

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The Friday Retailer Flex – Episode 32

Fri, 10/29

SUMMARY KEYWORDS

bicycle, retailers, retail, industry, changed, dealers association, membership, bikes, share, storage, longer, business, email, manage, store, bike lanes, shopping cart, navigate, playbook, work

SPEAKERS

Heather Mason, NBDA

NBDA   00:10

You are listening to bicycle retail radio, brought to you by the National bicycle Dealers Association.

Heather Mason  00:16

Welcome to the Friday retailer flex the weekly pointed, digestive inspirational and actionable insights you can implement today to take your business to the next level. This is NBDA President Heather Mason. If you’re a first time listener, be sure to check out the previous episodes, please do us a favor and leave a review. Today’s message is centered around a quote and sentence we recently wrote about and an email to NBDA members. The quote bicycle retail will never be the same. It struck us are we changed? Will bicycle retail never be what it was. We had an overwhelming response to this email with retailers sharing their feedback and thoughts. One letter stood out to us as something we wanted to share. With permission from the retailer who wrote this email to us. We want to share their response and what they’re doing and their bicycle retail store to navigate the changing retail times. The letter went like this. The uncertainty has forced us to be flexible, creative, and we agree that it’s permanently changed the way we are doing business. We are rethinking everything. And we mean everything. We just ordered new hardware for our point of sale system to upgrade storage. We are finally partnering with smart detailing to get our inventory live on the website and have the option for a shopping cart program. We are integrating our current site into their platform so we can keep the look and feel of ours. With our inventory feed. We have reconfigured and re merchandise the whole store and have plans for a bigger Reno over the winter. That involves a bit more construction than we can manage. Well, it’s still so busy. We are reorganizing and cleaning all of our storage areas and clearing out old stuff that we no longer need. We have taken a hard look at our retail partners. We are thinning the herd and sticking with the companies that are profitable and reliable and have been serious about protecting IVDs we are no longer just going to carry products because they are available. We are willing to wait to sell the stuff we really love. Most importantly, we are focusing on finances to be sure we can afford bikes as they allocate in from our vendors. Instead of treating them all separately. We are looking at them as a whole and adjusting the backwaters to make sure we will have as diverse a mix of product as we can, but still make sure we are able to afford the bikes. Many companies have given up on a traditional spring dating model and are doing 30 or 60 Day dating. That doesn’t work for us in the Northeast so well. So we have to forecast that as best as possible to manage the cash flow. It all feels like a giant game of Guess what’s going to happen next. And there is no playbook from past experience for this new retail world we are entering. It is terrifying, but it’s also challenging and very exciting for us. If we can navigate this successfully, I think we will all be much more successful and strong. On the other end. A special note of things to this retailer for allowing us to share their thoughts and what they are doing in their store. Thank you for sending the email to us. We always appreciate the emails we get back. We know it’s different. It’s scary, it’s new. We want to propose to hold on to the best of bicycle retail and what it means to you in your community. Bicycle retailers have a place a strong place in the heart of a community. Bicycle retail might never be the same but bicycle retailers are still the strong passionate enthusiast adding to the journey of every current and future cyclists, helping with the changing climate bettering local trails, adding bike lanes, finding a profit and making their life’s work in the industry. And great news. While new and tough to navigate there is still success to be found great success in the bicycle industry. It might just look a little different. So today and everyday the team NBDA Rochelle and I we are celebrating bicycle retail bicycle retailers and our continued industry growth. We’re working daily to make sure we keep you best informed and provide opportunity, education and insight to better your business and an industry that might never be the same. Remember, we got you lean on us ask for help. As always, we extend our thanks to our membership base membership to the MBTA is open to retailers, industry suppliers, advocacy groups, organizations and individual’s if you’re not already a member of the NBA do so today nba.com membership and the NBA not only supports your business but the industry at large. If you’d like to support the show, share your favorite episode with friends and on social media help us expand our reach. We appreciate your support. Thank you for listening now go be great.

NBDA   05:20

This has been bicycle retail radio by the National bicycle Dealers Association. For more information on membership, and member benefits, join us@nbda.com

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The NBDA has been here since 1946, representing and empowering specialty bicycle dealers in the United States through education, communications, research, advocacy, member discount programs, and promotional opportunities. As shops are facing never-before-seen circumstances, these resources offer a lifeline. Together, we will weather this. We at the NBDA will not waver in our commitment to serving our members even during this challenging time—but we need your support.

Now is the time to become a member as we join together to make one another stronger. Whether you’re a retailer or an industry partner, your membership in the NBDA is one of the best investments you’ll make this year. 

Learn more about the benefits of being a member and join now.

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