Behind the Scenes: The Crisis to Chaos and Confusion in the Bike World: Manufactures Downturn – 2024 First Half IBD (Independent Bicycle Dealers) Numbers and The Pro’s Closet Closing. Review w/ John Bradley
Retailers say first-half sales on the decline by Ray Keener
Survey by Georger Data Services
63% were down by 15%, and 37% were up to 11% from January to June 2024.
The once-booming bike industry is now experiencing a period of significant upheaval. Fueled by pandemic-driven demand, the industry faced unprecedented supply chain disruptions, component shortages, and inflationary pressures. As a result, many bike manufacturers and retailers overproduced inventory, leading to a glut of bicycles and a subsequent correction in the market. This shift has resulted in price reductions, inventory write-offs, and layoffs within the industry, forcing businesses to adapt to a new reality characterized by reduced consumer spending and increased competition.
Brain (Bicycle Retailer and Industry News) article:
https://www.bicycleretailer.com/
https://www.bicycleretailer.com/subscribe
✅ Giant Group revenue down 13% in half:
https://www.bicycleretailer.com/international/2024/08/12/giant-group-revenue-down-126-first-half
✅ Bike product sales down almost 40% at Fox Factory in the first half:
https://www.bicycleretailer.com/industry-news/2024/08/01/marucci-revenue-offsets-bike-product-decline-fox-factory
✅ Shimano bike-related sales down 21% year-over-year in first half:
https://www.bicycleretailer.com/industry-news/2024/07/30/shimano-bike-related-sales-down-21-year-over-year-first-half
Bicycle Retailer and Industry News:
✅ Giant Group revenue down 13% in half:
https://www.bicycleretailer.com/international/2024/08/12/giant-group-revenue-down-126-first-half
✅ Bike product sales down almost 40% at Fox Factory in the first half:
https://www.bicycleretailer.com/industry-news/2024/08/01/marucci-revenue-offsets-bike-product-decline-fox-factory
✅ Shimano bike-related sales down 21% year-over-year in first half:
https://www.bicycleretailer.com/industry-news/2024/07/30/shimano-bike-related-sales-down-21-year-over-year-first-half
✅ Brain (Bicycle Retailer and Industry News) article:
https://www.bicycleretailer.com/industry-news/2024/09/26/pro%E2%80%99s-closet-will-close-october
Bike Shop Girl – Why Does the Bike Industry (mostly) Hate Beginners?:
As The Wheel Turns, So Do The Days of Our Rides. This series is my reflection on current events in the industry and consumer perspective. With my 30 years in the business, I try to give a better understanding and some added context to today’s topics. Let’s have a look.
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Tools and Products Featured (Affiliate):
🛠️ Shop Tools to Parts That I Use in the “Garage Shop”: https://www.amazon.com/shop/iknowaguybicycles
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My passion for bikes started when my parents opened a shop in the 1980s called Parker Bikes (we were located in Parker, Colorado). My love for cycling has continued since then, in my work and with my hobbies of road cycling and mountain biking. After my parents’ shop closed, I worked for other bike shops (including Lee’s Cyclery in Fort Collins), where I built and sold bikes, fixed and tuned up bikes, and managed inventory.
I love working on bikes and want to share my passion for cycling with others. So, next time you’re talking cycling with someone and wondering how to get started or where to go from here, you can think, “I know a guy!”
Where to find me:
🩷 Website: https://iknowaguybicycles.com
❤️ “The Guy’s” T-Shirts: https://i-know-a-guy-bicycles.myspreadshop.com/
🧡 Bikes: https://iknowaguybicycles.com/product-category/bikes/
💛 Parts: https://iknowaguybicycles.com/product-category/accessories/
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🩵 Twitter: https://twitter.com/IKAGBicycles
💙 Instagram: https://www.instagram.com/iknowaguy_bicycles/
📬 Attention Companies: If you are interested in working with me, don’t hesitate to get in touch with me here at justin@iknowaguybicycles.com
Music By:
Song: Keep Stompin’
Music by: CreatorMix.com
Video: https://youtu.be/XnBCcQ9tupY
Song: No Remorse
Music by: CreatorMix.com
Song: Smoke Rising
Music by: CreatorMix.com
Video: https://youtu.be/_oaZzkn0bW4
#bike #bicycle #sports