NBDA Unveils Specialty Bicycle Retail Study 2023, Highlighting Insights from Small to Medium-Sized Stores
The National Bicycle Dealers Association (NBDA) proudly presents the highly anticipated Specialty Bicycle Retail Study 2023, providing invaluable insights into the bicycle retail industry with a particular focus on small to medium-sized stores. This comprehensive survey marks a significant milestone in capturing and analyzing the latest trends, challenges, and opportunities within this important segment of the industry.
The Specialty Bicycle Retail Study 2023, the first of its kind since the 2017 edition, represents the most up-to-date and comprehensive analysis of the state of bicycle retail in recent years. This year’s survey was conducted the first half of 2023 and asked bike shops about their business revenue and profit during 2021 and 2022, before the pandemic ended.
The previous survey conducted in 2017 enabled the industry to gain critical insights into the shifting dynamics of bicycle retail. The eagerly awaited 2023 edition builds upon this foundation and promises to unveil new dimensions of analysis, capturing the current realities and trends shaping small to medium-sized stores.
The NBDA recognizes the vital role played by small to medium-sized stores within the bicycle retail ecosystem, and the diversity and breadth of responses from 150 small-to-medium-sized stores across the nation who provided their valuable input offer a unique and holistic perspective on the challenges and successes faced by these retailers. By zooming in on the specific needs, concerns, and strategies of these retailers, the survey provides targeted insights that can help all thrive in an ever-evolving marketplace.
“We are thrilled to share the results of the 2023 Bicycle Retailer Survey,” said Heather Mason, President of the NBDA. “This year’s survey provides a good understanding of the practices and challenges faced by our diverse retailers.”
Jay Townley, Human Powered Solutions, the firm that the NBDA worked with to create the survey, added, “The information contained within will be helpful for business planning as long as the users keep the scope of coverage and the limitations of what factual story the data tells in mind.”
Key findings from the 2023 Bicycle Retailer Survey include:
- Revenue trends, economic impact, and forecasting
- Top level Inventory overview
- E bike strategy
- UPC Utilization
- Point of Sale usage
- Marketing and promotional tactics employed
The NBDA extends its gratitude to the 150 small to medium-sized stores that participated in the survey. Their valuable insights and experiences serve as a testament to the vibrancy and resilience of this segment.
The Specialty Bicycle Retail Study 2023 results provide a wealth of knowledge that can benefit small to medium-sized stores, manufacturers, distributors, and industry stakeholders. The NBDA encourages all interested parties to explore the findings and leverage them to drive growth, enhance customer experiences, and inform strategic decision-making. The NBDA will be hosting an informative webinar free for NBDA members and those who participated in the survey, highlighting key findings and takeaways from the report on August 2, 2023.
The Specialty Bicycle Retail Study 2023 is available for purchase on the NBDA website. The NBDA is providing the report free to NBDA retailer members. NBDA retailer members can access the report below. The report will also be provided free of charge as an educational tool to all retailers who join or renew membership with the NBDA. Membership to the NBDA provides valuable resources for retailers of all sizes. Click here to join the NBDA.
