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Mar
21
The Omnichannel Consumer – What’s Your Strategy?
Filed Under Interbike, Online Marketing | Leave a Comment
Here’s a shocker: the face of retail is changing. Our colleagues in our parent company Nielsen’s research division use terms like “omni-channel” and “cross-platform” in describing the myriad methods that consumers are now using to research products, make purchase decisions and, ultimately, to buy. Today’s smartphone has taken things a step further by bringing the web into the store along with the customer. I’m sure all retailers, at this point, have experienced the customer browsing and scanning products in their store – if they haven’t done so themselves when they shop.
In the early days of the internet we experienced a brief panic from the explosion of new online retailers like Pets.com, Amazon.com and Bike.com (remember them?), all threatening to revolutionize the way we shop and make traditional brick-and-mortar stores obsolete. Heck, did the term brick-and-mortar even exist before the new ecommerce threatened to eliminate it?
The initial threat to traditional retailers subsided a bit as a result of the dot-com bust, but online retail has continued to grow as a percentage of total retail sales. In 2011, online sales grew 16.1% to about 4.6% of total retail spending, according to the commerce department.
More importantly, we’re seeing that consumers who shop in more than one channel – say online and in-store – spend more over their lifetime. And not by an insignificant amount.
National chain Golfsmith stated last year that customers that bought from them in more than one channel outspent one-channel customers by a factor of four. Golfsmith’s CEO additionally commented that customers who shopped across all their channels had probably 10 times the lifetime value and they were working to cultivate that in every way possible.
Numbers like that are hard to ignore. And the point of it, I believe, is not about price and discounting. It’s about convenience and being where your customer wants to be, and being available to them on their terms. Consider that the younger age groups where we struggle as an industry, consumers in their 20s and 30s do about a quarter of their shopping online. It’s where they expect to find you.
The independent bicycle retailer has remained vibrant and, well, independent, to a large degree, because of the unique service-oriented nature of bicycles. Along with the mechanical requirements of selling and servicing bikes, stores can also add value as sources of knowledge, inspiration and camaraderie. But can stores truly expect customers to continue buying most of their gear in physical stores going forward? Are you adjusting to a future with more ecommerce?
Retailers will need to continue to adapt to remain relevant. Even national mass-merchants like Target are suffering from being showrooms for purchases that are ultimately made online at ecommerce powerhouses like Amazon. Target is working to evolve their online strategy while working with suppliers to devise a solution. Are you?
Companies like SmartEtailing, Trek and, most recently, QBP have announced new programs and platforms for retailers to integrate ecommerce into their operations. Many retailers have already added online shopping components to their sites. Physical retailers can no longer think of ecommerce as the enemy or even as a side venture. It’s time to put down the hammer and reach into our tool boxes for some creative new solutions and be aware of how your customers are behaving to reap the rewards of serving customers where they are shopping – and stay relevant.
Nov
18
Google Streetview Heads Indoors
Filed Under Attendee News, Online Marketing | 3 Comments
Not sure how I missed this news from around Halloween. Maybe I was too focused on dialing in my son’’s Ninja Turtle costume to his hyper attentive 6-year-old standards (“Dad! Michaelangelo is the orange turtle. That’s red!”). So what did I miss? Well, it looks like the controversial Google Streetview feature of Google Maps has now headed indoors.
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.
Nov
10
The Product Preview and Introduction Cycle – Make it Work for Your Business
Filed Under BRAIN Column | Comments Off
The bicycle product preview process for suppliers and retailers used to be so simple: both would attend Interbike, new product would be presented, and orders would be written. Case closed. For a growing number of companies, that process now starts in April at the Sea Otter Classic. Suppliers have press events or leak information to the press and tease consumers with new innovations, and then shift gears into their private events in July and August. While this presents some challenges on both sides of the equation (not to mention tradeshow producers), I think it can also benefit both groups in some important ways. Let me explain.
We’ve heard from many retailers over the past few weeks that the show was more productive this year because they were able to finalize their 2012 product purchasing plans. They told us they began seeing product before Interbike, reviewed that information with their staff back home, considered options, and then finalized orders at the show after seeing the whole marketplace. This model makes sense to me. It allows the smart retailer to digest the various presentations, get support from staff, compare products to the competition, and then present orders at Interbike after a final review. It takes away the pressurized guessing game of pre-season and on-the-spot ordering and puts control back in their hands. In theory, as dealers see product earlier in the sales cycle they are better able to manage their inventories, provide smoother transitions for model year changeovers, increase margins, and further enhance vendor relations with key suppliers.
On the supply side, we received tremendous feedback that their sales teams had written more orders or collected more business than at any show over the past 10 years. Why? I believe that it goes back to the way retailers are thinking and acting. Independent bicycle retailers need to have time to absorb product information, compare it to what else is out there, and prepare their own analysis before submitting the order. Placing orders at private dealer events forces dealers to commit to orders with that supplier in a vacuum, without having seen the entire competitive landscape and any new trends. Allowing this slightly longer, but more-informed process to happen will net suppliers better, more well-thought-out orders that better reflect what will happen at retail. Ultimately, isn’t that what everybody wants? As time goes on and retailers learn about product prior to the show, it will actually reinforce Interbike’s vital role as the right place to finalize product decisions and place more intelligent orders.
The industry has evolved. Now armed with some early product knowledge, dealers are exposed to the full marketplace, competitive offerings and trends in one place: Interbike. They can make educated final decisions, meet with suppliers and place orders on their own terms. Orders and commitments become real at Interbike.
Thanks for supporting this year’s show and we look forward to seeing you at an even bigger event next year!
Oct
31
Cross events are just what the industry needs
Filed Under Events, Industry News, Racing | Comments Off
I recently attended the Providence Cyclo-Cross Festival (Providence, RI October 8, 9) and Spooky Cross (Irvine,CA October 15, 16) and I must say I was duly impressed with both events.
The men’s podium at the Providence Cross Fest, presented by Interbike
While certainly not a new category, cross does seem to be steadily gaining consumer momentum as evidenced by the number of product introductions in the category and the growing quantity of racers. A good cross race has a certain epic quality to it, and a spectator element that is very appealing.
As I watched hundreds of riders compete on both sides of the country it occurred to me that cross events are helping accomplish the following…
Encourages more riding participation
Both events showcased race categories far beyond the elite men’s and women’s categories and included all sorts of enthusiast flights and even opportunities for children to get out and compete. I even saw a few costumed riders at Spooky Cross. Many riders told me that they are new to cross, and are riding more because of it.
Promotes use of cycling product
I was blown away by how much gear racers were using to participate at these events. And I’m not just talking about cross bikes (although there were plenty) but trainers, racks, apparel, helmets, sunglasses, tubes and tires, heart rate monitors and more. Many participants that I spoke to mentioned that they had just purchased new product to get ready for the race, and particularly forNew Englandretailers, late season sales are a beautiful thing. And of course cross season goes through the fall and into the winter months.
Cross exposes new eyes to cycling
while many spectators at both events were there to support a family member or friend racing, there were many more that were just there to enjoy the race. And what’s not to love? With speed, strength, endurance, grass, mud, obstacles and the occasional sand pit, cross is a great spectator sport and can help even non-enthusiasts get fired up about cycling.
More riders, more product sales, and an exciting way to introduce the non-ordained to our sport – sounds like the growth of cross is just what the industry needs.
Hats off to GSD events and Rock and Road Cyclery for making these events happen, and for all of the event promoters out there creating cross races across the country.
Sep
14
The Circulus Video 2011
Filed Under Interbike | 2 Comments
One more teaser video about what to expect starting Wednesday at Interbike. It’s a bit of history of the track and where the PDW guys hope to see it in the future. After a brief stop in Las Vegas, of course.
Check it out on the Street Level of the show near the Pub.
The Circulus Video 2011 from PDW on Vimeo.
Sep
6
SRAM’s pART PROJECT at Interbike
Filed Under Attendee News, Events, Exhibitor News, Industry News, Interbike | Comments Off
While there’s no shortage of things to see and do at Interbike this year, this is one that I’m super excited to see: The SRAM pART PROJECT.
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.
Jul
1
WSJ Video: Bike Fashion Loses Spandex
Filed Under Industry News, Interbike, Video | 2 Comments
Just caught this early this morning while reading the news online while eating a bowl of cereal. It’s a video from the Wall Street Journal on casual cycling apparel that they posted last week on their site. It’s a concept we know well: you don’t need to dress like a pro in Lycra and spandex just to ride your bike. In fact, the assumption that they will have to get kitted up like Lance actually turns people off to riding. We’re definitely bullish on the category, and have been featuring it in our annual urban fashion show at Interbike, returning for the fourth year in 2011. There are some great new bike-specific yet casual looking styles and brands out there to appeal to both the recreational and commuting cyclist that needs to look just as appropriately dressed off the bike as when on it.
WSJ journalist, passionate cyclist and frequent Interbike attendee, Reed Albergotti, steps in to comment from a cyclist’s perspective with the two other more mainstream journalists.
Cycling apparel brands: submit your pieces to be considered for this year’s Interbike City Style Fashion Show, produced in partnership with Momentum Magazine, by downloading a submission form here.
Jun
22
Bicycle Retailer’s Philadelphia Dealer tour took place a couple of weeks ago. It was a great three days of riding from shop to shop in this strong bike region. I’ve been swamped with work and haven’t been able to finish editing all my photos and thoughts from the tour (I promise to finish it up soon…), but here’s a cool brief video that photographer Jake Orness put together of our little trip in the meantime.
Jun
15
Tiny Bike Shop Concerts
Filed Under Events, Industry News | Comments Off
Courtesy of the Elevation Outdoors Magazine newsletter, I learned about this cool concert series presented by Banjo Brothers Bag Co. The first stop was held at Calhoun Cycle in Minneapolis this past March. Looks like they streamed it live, so it’s a shame I didn’t know about it until now. Click the image below for some more photos of the event featuring singer Brianna Lane.
Mike Vanderscheuren, one of the founders of Banjo Brothers, came up with the concept.
From the Elevation Outdoors article:
Called the Tiny Bikeshop Concert Series, the concept was created with a goal to offer “free live music shows held in the world’s best bike shops.” Sponsored by Banjo Brothers International, a Minneapolis maker of messenger bags, packs and bike accessories, the series was built on the premise of local culture, bikes and music coming together as a natural fit.
About 100 enthusiasts showed up for the “seminars, swag and good times.”
May
19
The Art of Bike to Work Day
Filed Under Advocacy, Cycling, Green Efforts, Interbike | Comments Off
On my commute to work, I ride through two counties, San Diego and Orange, each with their own government and transportation authority agencies tasked with promoting Bike to Work Day. I’ve signed up in that past with both the San Diego Association of Governments’ and Orange County Transportation Authority’s BTW programs, so I receive postcards and emails inviting me to participate each year. Being a marketing guy, SANDAG’s effort this year stood out as especially nicely done. They definitely have a real graphic designer work on it, and it made me think about how other regions do on the design front for bike to work day.
Here’s this year’s San Diego County logo from a postcard they sent out to promote the day. I also like their tag line for the program: “Bike to Work Day: Give it a Spin!” Cute, right? Local SD bike company, Electra, is a sponsor.
Orange County has a more generic, on-going bike to work theme. They seem to do nicely with the local OC-based bike industry sponsors, though, with Jax Bicycle Center, Nirve and Oakley on board. Not the most stellar of efforts from a design standpoint, but I’ll give them props for past efforts where I’ve received buttons from them along the lines of those “I Voted” stickers you get on election day letting you feel smug and superior among your coworkers. At least in the bike industry your coworkers will consider you superior for biking to work.
And let’s not forget our friends just south of us in Tijuana who are also promoting bike to work day this year in conjunction with San Diego’s. About 90,000 people cross the border into San Diego on their commute to work every day. Some of those must be on bikes. Judging by the border wait times I hear on the radio each morning, I would definitely try to ride as much as possible to avoid the 2 hours sitting in traffic. Anyway, back to the design element, I think TJ’s work is great. Very clean and professional:
Have you seen any other good design efforts for Bike to Work promotions in your area? Let me know and I’ll share and help recognize and celebrate the quality work on our behalf.