Bicycle business August data with Ryan Atkinson: some positives but a tough month for bike shops

Around the Workstand

Ryan has a cool trip planned with friends on the Aquarius Trail hut to hut next week. 6 days in Southwest Utah with Nebraska friends and no logistics work required.

June retail sales PeopleforBikes

• Bright spot is inventory stabilizing across the channel
  • I’m joining a PeopleForBikes webinar later this month to discuss
• June is typically the high point for sales, but this year the month was very soft.
• Bike shops were -11% in total sales dollars for the month
  • Bicycle sales -13% and unit sales were -17%
  • Higher unit prices and shift toward more expensive electric bikes
• Bike prices are still falling, but not at the same rate as unit sales.
  • 29” wheel mountain and most road categories are showing some of the best price stability - likely a reflection of returning category health and new product releases.
• Bicycle repairs are an essential revenue source for shops. June saw the highest YOY increase in bike shop service/repair dollars since 2020, but that’s paired with the lowest number of service orders in eight years.
• While service departments are bringing in increased revenue, there’s a bit of caution mixed in as fewer bikes are likely being worked on.
• Chart in the email tells a clear story on long term trends. Dealers need to join PeopleForBikes and start getting these monthly market reports.

August ecommerce results from Workstand

• Very good August for some (+11% compared to -2% in July)
• Better than July for most (-9% compared to -17% in July)
• Site traffic up all year, August best at +13%
• Trend continues - Order volume down and average order up
• Store pickup May-August 32,000 orders (lot of store traffic)

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Ryan Atkinson, President + Co-Owner
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Mark Still, Business Development
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