Retail survey reveals shows independents to pack sales punch on clothing

During November, BikeBiz gathered the thoughts of 95 independent bicycle retailers in the UK on a variety of topics. Here are just some of the resutls:

What figure best fits your annual takings for cycle clothing and accessories?

£0 to £1,000 8.8%
£1,000 to £2,500 5.5%
£2,500 to £5,000 9.9%
£5,000 to £10,000 3.3%
£10,000 to £17,500 6.6%
£17,500 to £25,000 5.5%
£25,000 and above 60.4%

Comment: It seems we may have underestimated the power of the IBD on this one. Over 60 per cent of respondents are turning over £25,000 plus, per year, on cycle clothing, shoes and protective gear.

By what percentage has your annual turnover increased or decreased in the past 12 months?

30% plus 10.8%
+20% 20.4%
+10% 31.2%
Barely changed 26.9%
-10% 5.4%
-20% 3.2%
-30% or more 2.2%

Comment: Very little in the way of increased product turnover is indicated in the feedback, though the results are at least swaying towards increased business, rather than a decline. The vast majority report no more than a 20 per cent upturn in business.

By what percentage has your business’ profit increased or decreased in the past 12 months?

+30% or more 7.5%
+20% 10.8%
+10% 40.9%
Barely changed 25.8%
-10% 10.8%
-20% 1.1%
-30% or more 3.2%

Comment: Mirroring the turnover chart, profits, if increased year-on-year, display slow and steady progress as opposed to a boom in takings. Factors such as decreased consumer spend on luxuries and ever-increasing overheads may have affected many.

What portion of business does Cycle To Work scheme sales represent?

50% or more 1.1%
40% to 50% 4.3%
30% to 40% 3.2%
20% to 30% 17.2%
10% to 20% 28.0%
1% to 10% 29%
No C2W business at all 17.2%

Comment: 2010 will arguably be the Cycle to Work scheme’s last year of strong sales delivery. Legislation tweaks and ongoing confusion over the scheme’s value have seen many employers put their participation on hold.

Are you selling more or less bikes on finance than this time last year?

More 25%
Less 22.6%
Around the same 52.4%

Comment: Sadly, not much to report here. The demise of the ACT’s previously recommended Black Horse finance solution may have negatively affected stats. Thankfully, a replacement – Moneyway – has been found and comes with the Association’s seal of approval.