Around the Workstand
Around the Workstand is our podcast where we discuss the work done here at Workstand. Workstand is the only all-in-one commerce solution built exclusively for local bike shops. Our technology powered the ecommerce revolution for the IBD channel and is trusted by one out of four shops. Every subscription includes an optional point of sale at no extra cost. Workstand helps local bicycle retailers leverage the power of our bicycle industry-leading data network to run a more efficient business and expand sales opportunities.
We offer the most complete catalog of product data, including images and descriptions, expanded sales potential, and improved efficiency for both retailers and suppliers. Included drop shipping and brand marketing partnerships to build powerful relationships.
To complement our software services, Workstand is also a complete digital marketing partner. We work with over 400 bike shops, including many of the nation’s largest, offering website maintenance, Google Ads, SEO, graphic design, custom websites, and more.
Contact us anytime for more information: podcast@workstand.com
Around the Workstand
2024 bicycle industry sales recap and 2025 trends and expectations for the bicycle retail industry
Wow, 2024 went by in the blink of an eye, faster than a Di2 shift, how was your year? Ryan, Suzie, and Mark take a look back at our bicycle industry sales results for the year, broader economic conditions that contributed, and where the winners made a difference. Then, a look at the trends heading into 2025 and what we can all expect for bicycle and aftermarket sales. Marketing and, specifically, Google ads, will play a big role for those aiming to grow sales and expand their footprint in 2025. Owning a successful bike shop isn't for the faint of heart but we've got insights, tips, and actionable suggestions to help.
- 2024 market recap
- Roller coaster year at retail, with unpredictable demand/sales
- PeopleForBikes says IBD -9% through October
- S&P Global
- 2024 - We anticipate a nearly 7% decline in total bicycle unit sales by the end of the year, with an expected total of around 12 million units
- 2024 on Workstand
- Workstand platform +4% through Oct (mirror PFB)
- Finished year positive 5%
- Results driven by high performers in aftermarket and bike sales
- Over half of bikes sold at discount, discounts averaged -27%
- Consumers bought nicer bikes so ASP up 14%
- Unfortunately, the typical dealer on Workstand down 11% for the year
- Results dropped off in the second half of the year
- Holiday shopping season especially poor
- Need to find a way to get more dealers marketing
- Clear division between those advertising on Google and not
- Workstand platform +4% through Oct (mirror PFB)
- 2025 expectations
- Cautiously optimistic for our clients as a whole
- High expectations for top retailers
- 17 dealers sold over $1M online last year (top nearly $7M)
- 150 dealers solve over $100k
- We can make a big difference in growth
- Uncertain aftermarket
- Service will continue modest gains of about 2%
- Cautiously optimistic for our clients as a whole
- What can a dealer do if they want to be a top performer in 2025
- Identify categories that will generate growth
- Ex: mid-priced aluminum road, class 2 electric lifestyle bikes, class 3 electric road
- Build a stocking strategy accordingly
- Market to stimulate further demand
- Focus on local market share through Google search and local shopping
- Lean heavily on selling bikes online locally
- Identify categories that will generate growth
Be sure to email your questions to podcast@workstand.com. 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 support@workstand.com or call 303-527-0676 x 1. If you are not currently a Workstand client with questions about how our programs work, email info@workstand.com.
Find Us on LinkedIn
Ryan Atkinson, President + Co-Owner
Suzie Livingston, Marketing + Communications
Mark Still, Business Development
We 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 mark.s@works...