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 recapRoller coaster year at retail, with unpredictable demand/salesPeopleForBikes says IBD -9% through OctoberS&P Global2024 - 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 units2024 on WorkstandWorkstand platform +4% through Oct (mirror PFB)Finished year positive 5%Results driven by high performers in aftermarket and bike salesOver 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 yearResults dropped off in the second half of the yearHoliday shopping season especially poorNeed to find a way to get more dealers marketingClear division between those advertising on Google and not2025 expectationsCautiously optimistic for our clients as a wholeHigh expectations for top retailers17 dealers sold over $1M online last year (top nearly $7M)150 dealers solve over $100kWe can make a big difference in growth Uncertain aftermarketService will continue modest gains of about 2%What can a dealer do if they want to be a top performer in 2025Identify categories that will generate growthEx: mid-priced aluminum road, class 2 electric lifestyle bikes, class 3 electric roadBuild a stocking strategy accordinglyMarket to stimulate further demandFocus on local market share through Google search and local shoppingLean heavily on selling bikes online locallyBe sure to email your questions to [email protected]. 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 [email protected] or call 303-527-0676 x 1. If you are not currently a Workstand client with questions about how our programs work, email [email protected] Us on LinkedInRyan Atkinson, President + Co-OwnerMark Still, Business DevelopmentWe 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 [email protected].

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