*2023* HOW IS OUR BICYCLE STORE PERFORMING AFTER THE PANDEMIC BOOM?
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- čas přidán 24. 07. 2024
- www.winspace.cc
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0:00 INTRO
1:00 BEFORE PANDEMIC TIME
9:20 CURRENT TIME HOW ARE SALES TODAY - Sport
always love talking this stuff with youg uys!!!
A lot of us like to hear a bike shop owner's perspective of the industry, so thanks for doing it.
Love this video Grant. Your bike shop looks amazing!
Here in Sydney Australia, top end bikes are becoming unreachable at between 16-18k! The cost of living is killing everyone in Australia atm. No co-incidence that ELVES are doing a lot of social media advertising with their latest Falath Evo.
Quick reflection from Hungary, Eastern Europe...I was investing heavily to start to do business with Winspace back in 2020, bought an initial stock of frames, wheels, handlebars, had run campaigns in social media, organised group/test rides, set up a workshop, homepage, lend the bikes to known athletes for long term reviews to gain trust and have feedback from real competition riders, etc... After 3 years of trying I came to the point this month that I let this brand go as it seems to be unsellable (in my country), regardless of how many national champion has tried and promoted the bikes/wheels/frames...I was surprised and deeply disappointed as a few countries away from here, where paying 3-4k EUR for a bike isn't an issue the sales are flying, at least in the Netherlands as I was in touch with the local Winspace dealer but in my home country it is mission impossible, even on that price that I paid for it or less than that, I can see people are watching the bike adverts for those bikes on sale but the willingness to buy them isn't enough to overcome the doubts and fears they have against Chinese products, even on an upcoming brand like Winspace that is tried and proven by several competent people all around the world. Specialized and all other overpriced stuff is still selling along with ebikes but people seem to prefer brand popularity over value for reasonable money. Im trying to get rid of the last 2 bikes I have from Winspace in my stock and stay with the service and some parts but definitely not going to invest more in Winspace even though I wish it was a fruitful opportunity to be the first in eastern Europe and build the brand up and put up a racing team with their bikes as I believe it has what it takes at any days. To give you the complete picture, the other brand I took on, was Trifox, sold twice as more from that, though that was a lower priced product that fits the very price sensitive customer base on this very small market that is flooded with import bikes from Italy and Switzerland but since the inflation has rocketed due to the war induced energy crisis and having the highest inflation in EU, definitely doesn't help the sales...All in all, Im selling out my stock to reduce it as possible and wait for next move to come within the market over here.
Been a cyclist for 45 years and used to hang out at a local shop back then. Move up to today and it's not fun to watch what is happening to shops local to me. I give it to late 2024 before "normalization" happens where the suppliers, manufacturers, and warehouses are back to filling needs on a 'as required' basis. Also, e-bikes are becoming huge around here and I see quite a few companies that are going to fail due to QA/QC issues.
@@jamesmckenzie3532 where are you based? Just curious for the geolocation to draw an up to date picture. :)
Totally agree...you don't need a $2500 bike for a family ride around the neighborhood. You need a $20k+ Colnago with Super Record (the $5k wireless of course)! I drop the wife and kids every ride like a sprint finish on the Tour #CavendishFullSendEverytime
Seriously, very happy for your store and kudos for having a plan and sticking to it 👍
hahahah seriously people were pointing at road bikes on shelves because I ran out of hybrids and they did not care, it was a weird time lol and thank you veyr much for your kind words
I find your videos genuine and authentic. You discuss so many different variables within your business; your passion is inspiring. I don’t even own a bike shop and I watched the entire video.
Man, this means a lot. Thank you so much for the kind words
Stand still man!
Lmao sorry
He was the cameraman in the Jason Bourne movies.. its called shaky cam. Hehe😅
I had to listen and look away. The video hurt my eyes after three minutes.
@@vicholm1000 Maybe we'll see a Blair Witch version
@@MrTait_en_Chilelmaoooo
Great info. I just bought a bikeshop and I find your videos very helpful! What your saying is matching the reality we are facing. I been careful not to order to much inventory and promoting our brand on social media. The store was operaing like a distributor during covid. I been in charge of getting the word to get in more service work. We are right on track with the numbers so far.
That is awesome!! Yes right now, you need to make sure you work with your manufacturers and just let them know what is realistic. If you order correct it will help them order correctly, even if it’s not the big numbers they want, it will benefit it in the long run
IMO, service is the main and primary thing bike shops have to offer, in this day of online shopping. Since 2020, I've had two of my old bikes overhauled, bought three bikes online, and had local bike shops do the assembly. I bought the bikes online since none of the local bike shops had anything in stock in my size. LBS needs to specialize in maintenance and service. Just like auto drivers, bike riders mostly like to ride, and not mess with mechanical repairs. Focus on maintenance and service. J
Thanks for posting your state of the industry report. This is the kind of information I'd like to chat about when visiting a bicycle shop, but felt I was too nosey or didn't want to take up their time.
you are very welsome, I will start to do more of these later on down the road, maybe not walk around so fast lol
As a side hustle bike flipper/fixer upper/modder, mid-spring of 2023 was the last of the quick flips at high profit. Right after that, prices have dropped about 30-50% and flip times are 2-3x longer. Less people are looking to upgrade, much less people are willing to spend over 3-4k. Now the majority are looking for bikes in the 1500-2500 range and are willing to spend more for disc brakes. Started doing this in mid 2020 and I always have 3-5 bikes on hand. I've gone from riding a $500 hybrid louis garneau bike for exercise to a 2022 cervelo s5 that I do not deserve, I wouldn't even call myself an amateur rider but I would 100% call myself a pro bike mechanic. My apartment now has a dedicated corner for working on bikes with every single tool you can think of.,
yea no lie we had about 3-5 regular bike flippers that came about in that 2020 period and they were making good money, to this dat enow a lot of them fizzled out when the demand went down and there i sone left but he bought a lot of his inventory at high prices when used was still selling good so now he is just selling for his cost on the bike back but it can be done like anything in this world if you keep by it and stay disciplined
Must have been an urban thing. I heard about bikes in big demand, contacted a bike shop in a nearby town, asked if there would be any interest in the many older yard sale type bikes and the owner said no, he had a barn full himself. So the old Raleighs, a trek, Shogun, Cannondale... Still hanging there collecting dust.
@@elgringoec Demand for old bikes and bikes that are not popular via social media don't tend to sell well. Cdales, Specializes, Treks, Cervelos, Canyon, Colnago, Bianchi and Giants sell like hot cakes. Since my original post, I've already flipped 2 Tarmacs and 1 Emonda.
@@WhatTheFlipOfficial
Yeah that makes sense. Most people are more about status than functionally these days. At least in urban areas. Me, I ride an old Gary Fischer for daily exercise. I don't mind performing the maintenance, which isn't that much really, in ratio to usage. The rear suspension is pretty key for my aged back to which jarring isn't friendly, as I ride primarily dirt trails in my woods. I haven't hit the road on a road bike in years.
Thank you for being transparent, your videos and content are always super interesting. If my LBS was as knowledgeable as yours I'd probably support them more but whenever I ask them questions they seem to have no idea about the market/news etc and they mostly just sell e-bikes now :(
Thank you for this :), I feel like it is my job to know this information of new product and also know my competition bikes out there. in any job we need to be aware of what si coming out new and also how your competitors are doing
Great video & thank you for the insight. Everything you said I remember going through. I glad things are getting back to normal. I glad to hear your store is doing well and had a plan. Looking forward to your next videos. I watched many of your reviews. Thank you.
Thank you very much for your support I will do more follow up videos like this in the future
I had a Garage full of old Shiet, it Sold. Every last tyre, innertube, break, the lot.
Years of Hoarding, all gone
We had a awesome bike shop in downtown Bremerton, WA. Heard through the grapevine the owner closed it because of theft and vandalism from people breaking in multiple times and stealing his inventory😢 it was a really cool shop that would have top of the line stuff all the way to restored once upon a time top of the line. Good prices and great customer service, dang shame. On a plus I heard he closed shop, moved to Florida and opened a new successful one. Blessings in disguise my friends. Great video!
yea I heard nightmare stories about retail business in Washington, I heard that Walmart and target are closing down stores because they literally cant do anything about stopping theft, it is a damn shame, I dont know who in there right mind would want to be a business owner there
I'm just an enthusiast now but grew up in the bike business. I appreciate your candid account of what's going on. Didn't realize you were in Florida too...will definitely stop by one day...and buy something too! Keep up the good videos...informative.
As a long-term cycling consumer, it’s been nice to have some options again and some bargaining power back in your corner!
Yea I’m sure it’s nice for everyone. It’s also nice for us to be able to give the consumer options and not only have an ugly color in stock
Thank you for the inside insight. I see inventory issues are starting to become less of an issue in the majority of industries, not just cycling. Myself, and everyone that I speak with in any industry, have all been in agreement that the biggest issue facing business right now is finding employees.
yes this is a hard part as well, and even if oyu ifnd employees it is hard ot find good ones, ones that want to work and actualy take pride in what they do, now everyone today thinks there self worth is the most without putting any work into anything, and if they do a bad job or fuck up there is always an excuse, I use to make so many mistakes learing in this industry and I would get yelled at for it, called dumb, would have to take time to learn the job again but it is how you were taught and the way you actually learned how to do something right
@@GCPerformance18 right on the money. People now want to make as much as the owner does with zero investment. They also, all want a job, but very few really want to work. You are not alone. Everyone I speak with has the same issue. Cannot be sustained forever.
April was my shop's best month since 2013! The Trek sale was quite popular and we sold a ton of bikes. Things have mostly normalized since last fall (excluding all the sales). I am releived that everything is back in stock.
yea april was a crazy month for us as well a ton of levo bikes sold and stumpys, they were hitting numbers from covid times or close to it, like the 2021 numbers
@@GCPerformance18 Some enormous discounts on 2022 stock here in Australia. I haven't seen anything like it before and usually here you get some discounts in October when the next years are released. I can only suspect that some shops / local manufacturers are carrying lots of last year's stock that they want shot of?
@@GCPerformance18 my local Specialized store(owned by Specialized had a 50% off sale on stock) they cleared out inventory. I guess they were gearing up for the 2024 models.
@@arthursosajr.2031 50% OFF is the actual dealer cost by the way. Almost all the bike brands are sold at double cost, that's why they can often end-of-year 30% off sales and still make a profit....but 50% OFF is the actual cost, so your local Specialized store was clearly just trying to get their money back knowing they won't be selling those bikes for a profit now, and even less chance in the future.
@@DougieL The market is now over - saturated .
Pretty much the exact situation at the shop I work at. Our service department is drowning in bikes, sales are steady but not amazing. Good point about QBP; I hadn't taken a look at their groupset inventory, but a lot of their whole bike prices did go down recently.
Yea the service is crazy right now. I mean it’s great I can’t complain. The only thing I can think of is just the more riders and boom
My local shops are small on the Canadian east coast , they use to only get run of the mill bikes , they were allotted so many or whatever . This year they have bikes on their showroom floors that previously we could only special order and wait for . And now that bikes are here , my 2 year old bikes aren't selling very well to support the upgrade . One LBS took a bunch of trade in's in order to clear his inventory , so now I'm competing with him in the used market , and even though there aren't many nice used bikes available on our used marketplace , There's still a stand still in the market and prices are are coming down for used bikes .
Yea the used bikes have been selling for so cheap around me. People just dumping them.
Great video and nice insight of the store. It would be nice to do an update like this once in a while!
Understood!!
That was really cool bro! Thanks for letting us in your world!!! Good info
Thanks for the videos, I hope you continue to have a great business!
thank you for the support
Thanks for the video. I have noticed the same trend in a number of other consumer segments. Autos, RV's, etc are having trouble moving last year's supply and are now in the situatuon where they are trying to move models that are two year's old.
yea I think this video applys to all outdoor sports equipment and rv and boats and cars
work part time in bike shop. Thank god for e-bike as they are half our sales. Selling to older folks who you would have thought out of the bike market. Gazelle, New Comos, Lower end Giant.
Yea e-bikes are booming now. People really are enjoying them more and more. And those die hard enthusiasts who are getting older and still wanna compete with there local ride
I'm 65 and happy on my old Gary Fisher. How come nearly all of the e-bike riders that I blow by are in their 20s? 🙂
Thank you for sharing. Tremendous insight and honesty. It reflects on your business success. If you were my LBS, I'd recommend all my friends
Dude, we love your bike shop. We pass by it every time we go to deerfield. Everyone is super friendly.
Thank you my friend!!
Good to know. Used it to my advantage recently getting a smoking deal on a ‘22 Giant Revolt Advanced Pro 1.
Love your videos! Very informative!
I absolutely want to stop by your shop for a visit!
thank you very much for this!!!
I remember the last store tour you did. You had like 3 race bikes. 🤣 Was a weird time. Looks much healthier now👍
yea was a very weird time, and i loved that I filmed it because sometimes I weill go back to look at those videos and It just brings back so many memories from the event. its crazy
Great to hear 👏 kudos to you and your team 🎉👍🫶
Thank you my friend!! Come on over for a visit one day!! I love your work
Good Job GC . I'll personally $$$ support good 👍 people and honest businesses like yours. Blessings to your store and employees.
thank you for al the kind words mr Roy!!!! I appreciate it a lot
How much did you send him?
I definitely plan on supporting your shop on my next bike purchase!! Hoping Specialized will come out with a new aero bike like the Venge soon
I love to hear it!!! Thanks so much, I am hoping so much for a new aero bike very very soon
That was interesting and very detailed. I am not a shop owner or care to be one but as a consumer I still found this very informative - thanks!
That is awesome and i love this feedback I am glad you enjoyed, I will try to do more of these updates
Your insight to shop ownership is quite interesting. Thanks.
Thank you very much for watching :)
I’ve watched bike prices this year and they’ve dropped a good 10% since last year. Not sales prices but permanent cuts. I’m thinking about buying an e-bike. So I started biking in late 80s thru early 00s and then life… got back into it the last couple years and the preponderance of standards making bike parts less interchangeable is insane. Oh and all the mountain bikes now made for downhill they’ll never see sheesh.
Love the channel. Going to vacay in FL next month and looking forward to stopping in to see the actual sound studio… uh, showroom floor. Hopefully, da Man too.
hell yea!!! sounds awesome have fun on the vacay we go tnice weather right nwo
Sweet bike shop, much respect from Liverpool, England 🏴
Thanks so much, respect back at you from florida
I sold my bike shop in 1997. I knew that bike shop brands were going to start being sold at big box stores. I miss many of my relationships I had built through the years. So many wholesalers are gone now. Detroit Cycle, Chicago Cycle, Columbus Cycle and more. I miss the day when kids love bikes more than their video games. Went into Financial services. Make way more money. And have weekends off now.
yea man thats the scary part, we talk about selling a lot just to get out of the stress with retail, and how our dealers and companies are going over the dealers head it is making it less and less fun.... we own the building which is great and I love the bikes and our staff and how relaxed the work days can be sometimes but sometimes it does not make sense
Thx for the film All prices went up so what we should expect? Living costs kill buying new things. So huge merchandise and high markup must create such a situation
yes this is the situaiotn I just feel bad for the people who thought it would never go back down
You have a great store and it's really interesting to hear from the perspective of a bike store owner. My local independent bike shop in Edinburgh morphed into a Trek store earlier this year. I think the owner saw the crash coming and got out while he could, but the price of new bikes in the United Kingdom are now crazy. The second hand market in the UK is also flooded and sadly I think it will get worse before it gets better here.
"but the price of new bikes in the United Kingdom are now crazy"...I couldn't agree more, it's as if bike companies want to price themselves out of the market, even a reasonably good trail bike, nothing too fancy is £2000+. My friend was looking at a GT (Can't remember which one) but he ended up giving up buying in the UK and did a trip to Germany and picked up a carbon bike (Think it was a Radon??) from there, with the costs of ferry and petrol it worked out a bit cheaper to travel to Germany to buy a quality bike in his budget. The prices are just stupid here.
yea a lot of stores in my area had those big names like trek and specialized come to them with offers and alot of them took it because they turned there inventory and had good money sitting in the bank and maybe were about the age of retiring, so this is for sure not uncommon, but now what can happen is your going to have commercial stores filled with employees with no real drive and it is just a job to them, where a mom and pop shop will go out of there way to make a repair before a race or do what they must for a sale, or if they make a mistake they own up and make it right
It's a shame to see Trek gobbling up everyone and everything. Hopefully WalMart will buy them and they'll be exposed for who they really are. Never liked Trek* and their current behavior only solidifies that feeling.
*Buying and then dismantling Klein, Bontrager, Lemond and Gary Fisher was just too much. Destroyer of brands so that the vanilla lame-ass one could prosper. Friends don't let friends ride tRek. Sorry, but that's my position.
Great context and insights it’s probably way of the future for retail stores to have a strong digital presence.
Do you anticipate prices coming down as shipping costs are falling and supply chain bottlenecks easing.
yea we notiuced a huge increase in sales with online precense, I think prices wil correct a little bit but nothing insane, but prices will come down
The "like new" used market is really good for buyers right now.
Yea and it is literally like new lol
I resisted buying a new bike all pandemic, but Trek Fest this year got me and I have a shiny new Madone in the house now!
thats super nice and great deal man good for ytou!!!
Two of our local bike shops in Texas got bought out by Specialized and Trek here near where I live. Its a tough business it seems. I try to support multiple shops in my area.
yea I know that happened alot right after the pandemic ended but alot of it was up to the owners to sell, they offered that same option to stores around us and including us, we declined but some other stores got out while they made good money and not it gave those big name companies boots on the ground, but lets see how well they do
I live in Long Beach, CA and just about all of my local bike shops, ones that have been around for years, have closed down. There's one major Trek dealer left but all the good ones are out of business. Sad, because I like going in and seeing the latest and trying before I buy. Now I have to drive 20-40 miles to get to a really pro shop to check out what I want. Otherwise, I'm forced to buy online and hope it all feels right.
Very interesting, thanks!
Purchased my mountain bike at this shop very nice place to buy from.
thanks so much!!!! I appreciate it
Interesting break down of what is happening in the industry. Had to just listen because I was going dizzy following the camera lol.
yea i am sorry but thank you for listening, I just started walking and talking and didnt realize what I was filming lol next time when I do this I wil do better lol
Can you talk about the amount of people going to your shop to service their bike after 3 years? Like buying new tires, changing cables etc
yes I can, that is a good follow up video
I have friends that have bike shops and they made a killing on selling bikes over the Covid years, one took me into his warehouse and showed me how many bikes he had from back orders that had arrived after the lock down had lifted,(well over 100 bikes in boxes) but what annoyed me was how much the bikes went up in price back then and what really p*sses me off now is how much they have gone up in 2023 and how cheap the parts are on the bikes, before covid if you paid around 700 pounds you were guaranteed Shimano Deore parts on it, even SLX on some, now its Turney, Acera or Altus and the even cheaper MicroShit junk, there's no proper value in the bikes. The only good thing is the amount of 2nd hand bikes now up for sale at 50-60% off purchase price that never got used. I wouldn't wish anyone's business to go under, but in this day and age, a lot of people just don't have the money now.
yea it was a scarry moment when we all realized the demand slowed down and then we are stil getting frieght trucks of bikes with no where to put them
In the UK prices of carbon road bikes have gone up 50% since 2019. It's forced me to look at the second hand and DIY market. Unfortunately open moulds have also gone up nearly 100%. I assume the Chinese manufacturing is in a mess.
Same here as well. SRAM Force eTap, mid level carbon frames, so-so wheels, $6600. Ultegra Di2, high end carbon frame, decent wheels, $9600. That is truly insane imho. I was just looking quick while I was getting a chain installed, so I didn't get a look at the price of a 105-level bike, but I am assuming that level of entry road bike is out of range for most people. Probably around $3000 and more if electronic.
really? 50 percent?: thats insane, I mean it almost sounds on par with us, before sworks were 12k now 14500 and also pro bikes with force were 6800 now they are 9-10k so some what
I bought a Ribble carbon endurance disc brakes from the uk during covid for $1500 with shimano 105. It has not gone up 50%.
Yes prices have gone up so much that I will keep my current bike because it has 26" wheels so no one would want to buy it and to get a same level bike would cost well over £7000. Also the ever changing standards puts me off buying a new bike. I would only be interested in building my own bike from sale/S/H parts now.
This is by far my favorite bike shop east of the Mississippi........ South of I-4.....Just southwest of Lake Okeechobee......and just north of Fort Lauderdale Airport.
thanks pal, why dont you fly a fucin kite
I still go to my LBS for most parts and tools. The last three bikes I bought were direct and the last two were electric. The only LBS that will touch on an Electric that they did not sell is REI and they will not work on the electrical parts. So I think there is still plenty of opportunity a older riders find electric bikes let them ride often in spite of their bad joints.
very nice and yea we sell a ton of ebikes but we are fortunate with specialized and there backing of turbo ebikes
I love that deals are bike in the local bike shops.Those covid mark ups should have been considered profiteering
Prices went up during lockdown of everything but did not come down despite production back on track..
I've been riding road bikes and MTB's for 40 years. In college worked at a local LBS in Santa Cruz as a mechanic. I've always believed whole heartedly in supporting my LBS. However, my post-pandemic opinion could not be more different. During the pandemic, I was treated badly by more than one LBS. The massive surge in sales from fickle buyers, made your forget about the real riders and your loyal customers. For the first time in my life, I'm buying my accessories on line, and my next bike will almost certainly be a factory direct Canyon. The value equation at the LBS no longer adds up.
For someone who worked in the industry, you sure fail to understand the reality of the IBD. Oh well, enjoy your cookie cutter brand-du-jour.
I’d suggest you cut them some slack. Running a business is hard, especially when dealing with pandemic-related issues like staffing & inventory shortages.
@@mroberts566 agree with your level-headed reply. I've rebutted the "price gouging" endless complaining here and elsewhere since Covid began. Ever heard of a bike shop IPO? Some LBS owner putting in 10 years and retiring at 35 on millions after "going public?"
Yeah, me either.
High prices on stuff was the result of the pandemic. Shipping costs increased twenty fold for bikes, yet everyone yelled at the LBS for price spikes.
And it's pretty sad how entitled many are about their bike stuff. "I don't care if you die of Covid, GET BACK IN THAT FACTORY AND MAKE MY DERAILLEUR!!!!"
Sad.
Retail reaped huge profits the past few years…hopefully you saved some up 😮
what a gorgeous store! I would love to work there!
thanks so much!!!
I discovered that I have to book almost two months ahead for an overhaul. Still! So, yeah, sales may be down but servicing is still up.
this is crtazy I jsut thought it was our area but I guess everywhere is like this, I dont know if this is more repairs or maybe lack of employess
@@GCPerformance18 It's a small shop here in Singapore so one mechanic. During COVID lockdown it was at least 3 months to get a bike overhaul done.
I'm still working down the stock of chains you suggested buying well over a year ago. I go through about 3 of them a year.
According to my local LBS in Canada, Cervelo S5 will not be available until late fall and Shimano equipped bikes are even harder to get. Most bikes come with SRAM. This is in contrast to what was discussed in this video.
Yeah, I've ordered some Shimano parts from my favorite shop and it takes forever to get them, when I say forever I mean months not weeks. DA 9100 rear derailleur cage took about 6 months. Shimano road cleats the 0 float model took almost 4 months. It for this reason I buy extra stuff so I have it when I need it now. I'd rather have it and not need it than need it and not have it and not be able to ride.
so the onply thing i can say is that I heard fo some reason canada is still really behind and very hard to find parts, but there is a cervelo dealer north of me and also south of me both in stock right now with s5 in force models, ultrga models and duracae models, a lot of sizes
Got too dizzy trying to watch this so I had to bail!
sorry bout that I had that complaint a lot next time I will use a better camera
Bicycle companies selling direct to the consumers is a big issue for shops! I can't compete with their sales anymore, because they are selling them too close to my dealer costs. Offering free shipping and financing when I as the dealer do not!!!! This is BULL. Then, the customer brings it to me in mangled pieces because they attempted putting it together themselves....and with my repair still so damn backlogged they are disappointed once again(first time being my prices are more than online).... that it's not a quick fix!
Sorry to hear your predicament but the competition is fierce spurred by brand which only sell direct to consumer. Other brands just follow suit. In where I live, shops which distribute certain brand survives, other shop relegated to selling niche brands product.
Brother you move the camera too fast. 😁😂I love your video need more on bike industry info . Thks
I am so sorry I realized this with all the comments, I need to get a better camera, I just started talking and forgot what I was filming
Do you think there's any reason for companies to even bother trying to bring prices down? Group set makers don't seem to have any interest
They have too. They have two options. Stop/significantly slow down production or pay to store their products in warehouses. So the next obvious thing would be to lower the prices.
I think it will the advertised price will stay the same or very slowly raise year over year for awhile but the real market prices will be lower via different types of sales like the one that Specialized just had. By having a high(ish) "price" but it being on sale, people feel like they get a better value when they purchase.
@@thatprcrawlerguy187 dont think so. Lower production rate - yes. But the prizes wont fall. At least to mid range and high range bikes
Some bike brands are already starting to offer sizeable discounts.
I love my fleet of rim brake bikes and spend so much less buying gently used rim brake gruppo parts and chains. It’s ridiculous that a dura ace gruppo weighs more than rim brake gruppos and costs as much a nice used rim brake bike. I see a lot of people switching to L Twoo as it’s light cheap and relatively good quality. China brands are really bringing the fight to legacy brands.
11:04: Nice S-Works bike!
yes w elove that build, that is my brothers bike we got the frame from specialized blem sight back in the day
I view the cycling industry today as a surfer that is paddling to catch a perfect wave that has already gone past them.
This is very true, it is a difficult business and the best of this business has already passed, its not ever gonna be how it was during covid and people need to understand that
I’m ordering an Urtopia e-bike and they seem to be having manufacturing and shipping issues. Their bikes can’t be purchased locally. They’re doing heavy advertising on Facebook and other places in world, but they are having distribution issues.
I remember those old vids. Fun times. That was back when you hadn’t even done a face reveal on the channel
I know right, I miss those days it was a fun time for me I had a blast
Good to see the reality & million thanks for it, some bike stores still want to attend walk in or phone customers as if they are doing us a favor by selling us a bike, forget bargaining when prices are coming down, interest rates are sky rocket & even going up further, stock market is very bad, recession coming soon.. what I see, car dealers many are suffering too & giving discounts, could you please give me your bike store name probably we could talk
yes my stores name is Bicycle Generation my name is grant we are in Deerfield beach Florida, I always hated that mentality during the pandemic and a lot of shops adopted that behavior as well, they all thought there shit didn't stink and stopped giving loyalty discounts to there customers. if I ever had ot do that I would tell myt customer that this bike I could not do it because of the situation but if they wait i can get them a discount later and they understood it..... but i am always there to talk and work with the customer, in my mind i think this is the osul reason what separates us from a direct to consumer brand or the internet, we have the advantage
All the people that bought bicycles from you, are they regular customers you see or are most one off never see again?
I would say 50/50 depends on how often they ride or get into the sport, alot of times people start the hobby strong and then fade out so we see them in spurts like every 6 months to a year and then we have our die hard customers, but also there are plenty of customers who get hooked on another store or maybe there is a local store that is closer that doesn't sell specialized or maybe only does service and they like that better.... its hard to keep everyone happy
Well, here in EU you don't have to wait long for something like 30% discount to drop. Happens once a month this year for sure. And there stock for everything.
crazy!!! we are seeing this a lot too
What is that 1800sq ft of selling space? that's a ton of inventory value there. Hope you are doing 350k a Month minimum sitting on that.
we have been in buisness for over 40 years, we have had the same size store for 40 years... we have always filled our store the same way...... I think we know our numbers and our sales and our customers and how to stock the store, but your monthly number in sales is not to far off
Gonna be honest with you, as a consumer I’m ready for prices to come back down to earth to pre-pandemic levels. Until then I’m going to hold off and keep riding my current bike.
same here i want to be able to sell bikes that people dont feel are ridiculous
Oh my gosh it was so hard to get my Cannondale Jekyll waited almost 7 months. Crazy
yea those were difficult
3 great ways to get those bikes moved:
#1 Safety month. Free Kids Helmets. Get 20 of those out a week. For a month. Builds store awareness, good community vibes and encourages safe riding.
#2 Weekend subscription model. $100 for certain bikes to rent for the weekend only Friday-Monday.
#3 Spend $1000 get $100 in store credit.
I mean all those sound greta on paper but will not work and be profitable, they are great ideas, but thats all they are they will not be put to work, we dont have 100 people for rentals on weekends, also for the helemt give outs its not that big and also the 100 credit is nothing in this south florida market, the discounts are massive down here
I couldn't even imagine owning a bike shop right now. People are listing $7-8,000 bikes that are a year old for 4k in excellent shape. I've never seen anything like it. Seems hard to sell new with a used market that good
I know it is absolutely insane right now. Very hard to compete against the used market
I only buy second hand bike and as everyone has gone back to work and are selling all there bikes dirt cheap,good for people like me but not for retailers.
Who can you best collude with? Focus on that.
yes this is true
all the good LBSes are totally slammed in their service depts in my area. All of em have around a 2 week turnaround time
same here in boston. under-supply of mechanics is what i hear. that, and the new bikes are much harder to work on yourself.
yea that shit is crazy
I am so suprised how many people are saying this comment, but I can see it
Bike's or sales of I find interesting.
I have had my Giant for last 15 years. Before that I had a Phillips which I bought with my weekly allowance as a kid..
What I wonder is, am I typical of bike owners or do people buy every couple of years.
The only reason I bought the Giant is my boy accidentally crushed my Phillips with his truck in the carport.
Prices need to come down period. 20%. 5k for a Yeti SB160 frame is madness.
I bet some brands go DTC fully and start to offer DTC prices.
Don’t count on it. Prices might move 5-10% because they have cut out the LBS, but everything on the back end will fall apart. Get ready to call India for warrantee and services…if you’re lucky. Problems will be shipped back on your dime and take weeks to do so. LBS will rightly not help you out, but you can pay for immediate service which will now be at a premium cost since it’s their main source of revenue since you decided to go DTCHINA cheap and still expect full service.
Nice shop!
Thank you very much
my friend 1 man lbs, he is booked for service until July!! he doesnt sell much bikes
yea this shit is crazy I am getting this comment so much right now I didnt realize how many stores are like this, maybe becvuase of lack of employees or good work, we could use one more guy as well
Moore Large - one of the oldest and largest bicycle wholesaler / distributors in the UK - has sadly gone bust this year. Probably a victim of the same kinds of issues you described.
yes and I am having more and more stores reach out about there experience
Now if we can only get back to pre-tariff pricing...
I'm surprised I didn't see any ebikes in the shop.
They are there. They just look so close to regular bikes. A lot of Levos and creos
Good luck next year, the direct to consumer going to discount 40% to unload the glut sitting in the warehouse. Gonna be very hard for LBS to compete for the very few people looking for $5k+ bicycles
yea I have feeling this is true, but not only direct to consumer, but every manufactorer will do whatever it takes to more old inventory and flood the market. Also companies like pros closet will move a ton of those used bikes for super cheap to clear inventory and take huge losses just to get some money back
People seem very not happy with TPC their every media post gets swamped with buying and selling price criticism. After checking their inventory and seeing things like a 2018 Trek still being sold for ~$7 I think I understand why.
@@LastAphelion Yeah, pro's closet is too expensive
One of the Trek stores local to the aera of the city I live in is so down on everything it looks like they are ready to close. I went in to get a box of GU gels and they didn't even have but a few packs of several flavors spread out in such a way they was trying to make it look like there was a lot at one time in these big bins but currently not much left. Personally I don't like this store because even though they know me they won't discount anything. Not the same relationship I once had with a big shop I used to frequent that closed several years ago. Anyway, the store looks pathetic and there is really nothing to see, no eye candy. I think the only thing that may be keeping them afloat is service work.
yea those trek stores are weird like that a lot of them in my area barly carry high end madones or emondas mainly hybrids, and also with these, company owned bike shops they will not discount a thing
Retail is tough man
it really is, it is almost like a drug, the high are high and the lows are very low
On another note how are u protected against smash & grab ,I dont know ur area but saw another vid of a bike shop here on youtube that got hit,glass windows offer zero protection & easy access,I know places have insurance but
Oh we have hurricane proof shutters because of Florida, but we close those every night. So there is no way to smash and grab. They need really invest time to steal. So we are lucky with that. In the video you can see the shutters are closed by the window
Does anyone know how to get the diamondback catalog for their new models?
no clue to be honest, maybe contact a big box store
I love bikes!!!
new bike prices are crazy these days
My lbs in Brisbane, Australia only sells electric mtbs!
thats crazy, there is no other store local? we have like 10 shops around us in 5 miles
I see what you are saying online is hurting bicycle shops but not as much as people think. Bicycle shops need to do more group riding for like B or C level rides, I'm not seeing that like I used to 10+ years ago. Couple of times a year have an event, basic 10k TT, 60 mile ride etc.....
First thought on seeing your floor is that's a lot of bikes. I was just in the specialized store near me last week to buy gloves and their bike inventory was maybe a quarter of yours. Hopefully your area is big enough with enough sales to support keeping that much inventory
yes we are a big square foot store we always have the store this full, this is what it looked like for 30 plus years, we cycle through inventory
My bike shops have like ten bikes and not the right sizes, I feel like my country is just forgotten about
really? what country is it? maybe they cant afford the inventory or is it just hard to get bikes to your region?
@@GCPerformance18 new zealand, yeah we get the drips and drabs after every other country is done
any requests for LTWOO and Sensah to keep costs down on frame build?
Love sensah empire 11 speed and the have a hydraulic group coming imminently
Find a Shimano Ultegra 11 speed groupset, or 12 speed. Can't find them as they are pushing to electric groupsets
I have ultegra 12 speed electronic groups but they do not make a mechanical ultegra 12 speed
Prices need to drop back down to pre pandemic.
100 percent agree, it would incentives more sales for consumers and also give retailers better leverage to work advertisements for consumers to get foot traffic through the door
Specialized Austrlia has their bikes on sale right now😱
yea everywhere right nwo specialized is running there sale sbut mainly on the bikes they have over stock no real epics or tarmacs but everything else