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

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 PeopleforBikesBright spot is inventory stabilizing across the channelI’m joining a PeopleForBikes webinar later this month to discussJune 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 monthBicycle sales -13% and unit sales were -17%Higher unit prices and shift toward more expensive electric bikesBike 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 WorkstandVery 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 upStore pickup May-August 32,000 orders (lot of store traffic)Be sure to email your questions to [email protected]. We read all emails sent, and we look forward to hearing from you.If you're a Workstand client with questions about your subscription, email [email protected] or call 303-527-0676 x 1. If you are not currently a Workstand client with questions about how our programs work, email [email protected] Us on LinkedInMark Still, Senior Business DevelopmentDavid Martinez, Key Accounts AdvisorWe also publish Around the Workstand on our YouTube channel if you'd like to watch while you listen. Here is our Around the Workstand playlist.If you have any questions about the topics discussed in this episode of Around the Workstand or if you have ideas for new topics we can cover, schedule a time to meet with Mark Still here or email [email protected].