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The most important and impactful innovation to come down the lane, recently, for retailers has been the phenomenal growth of mobile. Smartphones and other connected devices that consumers can carry in their pocket have changed the shopping experience. For those of you keeping score at home, 38% of all Americans now own smartphones, according to current Nielsen stats, while a full 62% of those in the 25-34 age range do.

I’m sure most of you retailers have experienced customers in your store holding a product in one hand and an iPhone in the other. Perhaps you’ve even seen them scan the bar code on a product with the Red Laser app and effortlessly pull up a wealth of online information. While it’s tempting to get riled up over the thought of your customers  comparing prices online, I hope you can come to terms with the fact that there are few mysteries in shopping anymore – and that you can influence what they find online.

As a consumer, I’m an information hound. I want to know anything and everything about a product before I drop my hard earned bike industry dollars on something. Price is important, but as a recent Nielsen survey of digitally connected consumers found, “good value for the money” (61%) beat out “low price” (58%) as the top reason for their choosing a particular place to shop. While you can’t discount (excuse the pun) the role of deals and other financial incentives as a driver of new business, it’s not the only thing consumers are interested in.

(What influences your decision to shop at a particular retailer? – Click to enlarge)

For IBDs this is good news since the experience at your store is about so much more than just price and you have the ability to affect the value proposition with service, education, and your passion for cycling. Just make sure that you communicate this value to your customers where they expect to find it: online. Look at your own – or better yet, your kids’ – shopping habits for examples of where you need to be with your message.

There are new ways to influence your local customers with “hyperlocal” advertising:  Google recently announced that the distance between a person and an advertiser’s business location is now a factor in mobile search ads ranking. Think about it. That’s a really powerful new tool for your business to be able to direct your customers to your store.

At Interbike, we understand the power of face-to-face interaction, but the continuing growth and influence of online and mobile can’t be ignored. Social media and peer reviews online have influenced consumer behavior for years, but mobile puts that influence onto your showroom floor. You’re not done influencing your customer before he leaves his house anymore, and mobile can become an ally if you take steps to make it work for you.

Here’s a great recent infographic, also from our colleagues in the Nielsen family, on the mobile digital consumer to illustrate the current reach and influence of mobile.

(Click to enlarge)

I’d love hear how retailers are using these tools to grow their businesses.

Now, just as you can navigate up and down streets and pan around to see store fronts and unsuspecting pedestrians and sunbathers, you can wander through the insides of stores. You get the whole 360 degree, up-down and all around treatment. I just happened to be Googling one of my favorite local shops yesterday when some photos popped up in the Google Places area of the results. Upon clicking them, I noticed that I could wander through Pacific Coast Cycles’ crowded, but neat, showroom.

I spoke with PCC’s owner Chuck about this, and he said a Google person came by and took pictures not too long ago. I actually remember a few years back being in the store when a Google staffer came by to collect info about his business for Google Places. Here’s Google’s FAQ about the program.

I did a few quick searches for other shops that might have interior views with no luck. I’d love to feature some shops in this way – have any of your local shops had their insides filmed by Google? Any of you shops out there been invited to participate? Let me know.  And keep your showrooms neat!

Update: Palo Alto Bicycles has been shot for Street View interiors.

]]> http://www.interbiketimes.com/2011/11/18/google-streetview-heads-indoors/feed/ 3 http://www.interbiketimes.com/2011/11/17/nielsen-discounts-drive-brand-love-on-social-media/ http://www.interbiketimes.com/2011/11/17/nielsen-discounts-drive-brand-love-on-social-media/#comments Thu, 17 Nov 2011 18:47:24 +0000 Rich Kelly http://www.interbiketimes.com/?p=1544 From our colleagues in the NM Incite division of Nielsen, who work with companies to measure and optimize their online brands (officially: “helps businesses harness the full potential of social media intelligence to drive superior business performance across their organizations.”), comes this report about the most important driver of brand loyalty in the social media world.

There’s been much discussion in the marketing world recently about what motivates consumers to “friend” or “like” brands on sites like Facebook and Twitter. Typically used as a way to stay in touch with, share and communicate with friends, what are we looking for in return for friending a brand? We don’t usually opt-in to receive advertising and branding messages in other media – unless there is an incentive. Think free weekend at the resort in return for sitting in on a presentation about purchasing a time share at the property.

And while it’s all good that we – as brand managers – have been able to use SM  to personalize our companies and interact with fans and customers in a more direct, human way, this study shows that, at the end of the day, discounts and deals are still a powerful driver. Other reasons, such as “showing support for the brand” and “be among the first to get news and information” are still significant, but are overshadowed by the almighty discount. Just look at the success of deal/coupon sites like Groupon and Living Social. In the bike and outdoor specific industry, we’ve seen the emergence of companies like The Clymb.

It’s interesting that in North America, this economic incentive is noticeably more powerful than in the rest of the world.

Do you offer deals or discounts to people who like or follow your brand online? 

Here’s the chart from the report:

SRAM commissioned 50 artists to create these amazing works of art out of the contents of a box of 100 parts from the SRAM family of brands. The 50 sculptures were displayed at Interbike in individual cases mounted on pedestals in two big displays on the street level lining the main aisle and in a space at the very front right corner of the upper level. A smaller group was set up in SRAM’s own booth.

The goal of the project is to raise funds for World Bicycle Relief at an auction of the pieces to be held in Chicago later this month following the exhibition in Las Vegas. Here are a three examples from the project. To see the invitation for the auction from SRAM, scroll down past these examples of the sculptures.  Follow the link below to the project’s website to see all of the pieces in higher resolution and learn more about the artists.

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JOIN US:

SRAM President Stanley R. Day and World Bicycle Relief Founder F.K. Day cordially invite you to join us for the grand finale of the SRAM pART PROJECT: A gala pART PROJECT exhibition and auction at Chicago’s Gallery 1028.

You’ll join leading figures in the cycling world in viewing the artwork, meeting the artists, and bidding on favorite pieces. You’ll also enjoy food, drink, and live entertainment. Best of all, simply by attending you’ll be directly supporting the mission of World Bicycle Relief.

Your $134 admission fee is the cost for World Bicycle Relief to donate one bicycle.

DATE: Wednesday, November 30

TIME: 6:00 pm CST

LOCATION: Gallery 1028 1028 North Hooker | Chicago, IL 60642

TICKETS: $134 (the cost for World Bicycle Relief to donate one bicycle)

Visit www.sram.com/partproject and click on Event for more information.

Gallery 1028 in Chicago where the auction will be held:

Thanks everyone!

Bike Radar’s 2011 Interbike Coverage

Urban Velo magazine’s 2011 Interbike Coverage

VeloNews’ coverage of Interbike 2011

BikeBiz coverage from Interbike 2011

ESPN coverage of the show

Mountainbike.com’s product roundups from Interbike 2011

Bicycling magazine’s coverage of products at Interbike 2011

Bicycling magazine’s coverage from day two of Interbike 2011

Momentum magazine’s coverage of the City Style Fashion Show

Momentum magazine’s 2011 Interbike coverage

Bike magazine’s coverage of Interbike 2011

Huffington Post’s highlights of Interbike 2011

Transworld Business coverage of Interbike 2011

RideBMX magazine’s coverage of Interbike 2011

Outside magazine’s 2011 Interbike hard goods & components roundup

Outside magazine’s road bike roundup from Interbike 2011

Outside magazine’s roundup of 29ers from Interbike 2011

Outside magazine’s roundup of accessories and apparel

Dirt Rag magazine’s 2011 Interbike coverage

Bicycle Times’ coverage of Interbike 2011

Slowtwitch.com on Interbike 2011

Complex magazine coverage of BMX at the 2011 show

Pinkbike.com’s news from Interbike 2011

Gear Junkie on the best from Interbike 2011

MTBR’s extensive Interbike 2011 coverage

RoadBikeReview.com’s coverage of the show

Singletrack magazine articles from Interbike 2011

Lovely Bicycle’s coverage of the “transportational elegance” at Interbike 2011

TwentyNineInches.com roundup of 29ers at Interbike 2011

Vital BMX’s roundup of their coverage of Interbike 2011

Vital MTB coverage of Interbike 2011

The Outspoken Cyclist radio program on WJCU recorded live from Interbike 2011

SickLines content from Interbike 2011

Cyclocross Magazine Interbike 2011 coverage

Check it out on the Street Level of the show near the Pub.

The Circulus Video 2011 from PDW on Vimeo.

I arrived in Las Vegas yesterday afternoon and took a stroll over to the New York New York Hotel on the other end of the Strip from the Sands. Here’s a photo I took of their Statue of Liberty which has a permanent memorial to 9-11 along the sidewalk at its base:

Following the events of September 11, 2001, firefighters from around the world who visited Las Vegas created an impromptu memorial at NY-NY by leaving t-shirts from their home fire battalions on the fence that surrounded the statue. Apparently, several thousand shirts had been left by 2003 and the hotel subsequently donated many of them to the University of Nevada Las Vegas to be archived.

The hotel kept some of the shirts and built a permanent memorial consisting of lighted marble and glass display cases each featuring one of the shirts. You can see some of them at the bottom of the photo above.

On a side note, I have a personal connection to 9-11. My wife and I were scheduled to move to California from Connecticut (about 40 miles north of New York City) on September 11, 2001, as my employer in the bike industry at the time was transferring a number of us to offices out West. Luckily, we were supposed to be on an afternoon flight that day and, needless to say, we were only able to move west a few days later.

We’re coming up on our 10th anniversary of living in California, and we’ll never forget the date. Of course, our connection to the date pails in significance to that of the many families directly affected by the events that day. Our thoughts go out to all of them today.

Safe travels and we’ll see you all in Las Vegas.

SRAM gave 50 artists a box full of 100 components and asked them to create something with them. The finished pieces will be put on display at Interbike and then at a gallery in Chicago in October after which they will be auctioned off to benefit World Bicycle Relief.

Here’s a video short of one of the artists working on his creation:

Look for the pART PROJECT display lining the main aisle on the Street Level of the show next week – make sure to check it out.

From Bicycle Retailer and Industry News, August 15, 2011, page 38.

Numbers don’t lie: Dealers still find Interbike relevant

Despite the many options dealers have today to see new products, the majority plan to make the journey to Las Vegas next month. That’s the takeaway from the latest survey by the National Bicycle Dealers Association.  In fact, 85 percent of dealers said they find some or great relevance in Interbike.  The online study, conducted by Harvey Research, elicited 1,100 responses.

In its 30th year, Interbike continues to be the biggest single trade event in North America for independent bicycle dealers. When Steve Ready started Interbike in 1982, regional trade shows were common and there were usually at least three annually. After consolidation and some turmoil, Interbike emerged as the one big show that would meet a dealer’s needs at a convenient time and place.

And Interbike remains their first choice today, even with options like consumer events, some with a trade component, niche trade events, and private company events produced by Trek, Specialized, Quality Bicycle Products and others.

Why so much support? Why do 71% of past attendees call Interbike a “must attend” event, and 62% call it “a highlight of my business year”?

According to the survey, dealers come in such large numbers to:

• See new products, equipment, technology and services. Of the retailers surveyed, 92 percent gave this as a reason. Interbike is either effective or very effective in this regard, with 80 percent of the respondents saying so.
• Keep up to date with industry trends (78 percent). Interbike allows all companies to exhibit and gives dealers free reign to explore the marketplace without any one company or agenda running the show.
• To see existing suppliers (79 percent).
• Maintain and build relationships and networking (78 percent).
• Find new suppliers (75 percent). A surprising 50 percent report that they have a major problem with “suppliers whose actions and policies are not in the retailers’ best interest.” Another 35 percent consider this a minor problem, but still a problem. Finding partners whose values align with yours is a central task for any independent business. Interbike “consistently draws the major players,” giving dealers options, according to 75 percent of the respondents.
• Compare competing products (54 percent). While it is important to understand the products in your store, knowing the competition can be a big help in the sales process.
• Access education and training (49 percent). There are more and a greater variety of seminars and tech clinics at Interbike than at any other industry event.
• See or participate in product demos (45 percent). The Outdoor Demo has added a dimension that allows direct comparison of bicycles in the field. This goes well beyond spec and speaks to the experience itself.
• Meet with vendor executives (45 percent). Working with sales staff is fundamental. Engaging upper management allows more strategic issues to be addressed.
• See new products first reviewed online (45 percent). A majority of retailers also said that Interbike helps them “stay ahead of the consumer” (76 percent).
• Make purchases (36 percent). Even with many companies pushing for earlier ordering commitments, only 22 percent of dealer orders are finalized prior to Interbike. More than half of respondents (59 percent) said Interbike is important for confirming their final mix of preseason orders.

The numbers speak for themselves. Interbike is still perceived as a smart investment by a majority of dealers. And attendance figures back this up, with thousands spending their own time and money to attend every year, voting with their feet. As one Northern California dealer recently told me, “I do think of Interbike as our show.”

Still, there is no show without dealers. So, I urge every independent bicycle dealer to make the trip to Las Vegas this year. It’s a good use of time and money.

Is there a more anticipated event than the arrival of your new custom designed bike jersey? The agonizing (arguing?) over the final design with your team mates or co-workers is well behind you, and now you’re just waiting for the actual physical manifestations of that illustration that you all agreed to. Well, for us, the payoff for the wait happened this week.

Several boxes from our long time (8 years now?) jersey partners at Hincapie Sports arrived, and were summarily ripped open. We’re super happy with the design that Jennie Brewton, our art director, came up with celebrating the 30th edition of the show this year. I goes without saying the quality of the jersey and the sublimation of the designs are first class. Big thanks go to the team at Hincapie for always doing a great job!