Irvine, CA – Nov 17, 2023 – The National Bicycle Dealers Association (NBDA) is proud to announce the formation of the Bicycle Industry Retailer & Supplier Best Practices Panel, a collaborative effort bringing together top retailers and suppliers in the bicycle industry. This initiative aims to formulate best practices that contribute to the positive financial health of both suppliers and retailers on a global scale.
Scheduled to convene for its inaugural meeting on January 16th, 2024, the panel will address a wide array of critical topics integral to the success of the bicycle industry. Key areas of focus include Supplier Health, Retailer Health, D2C & E-Commerce, Human Resources, Ridership Numbers, Marketing Cycling in General, and the impact of the Change in Consumer Spending Habits.
Supplier Health
The panel will delve into discussions surrounding supplier health, covering aspects such as inventory management, dealer programs, sales channels, advertising strategies, and fostering positive retailer relations.
Retailer Health
Attention will also be given to Retailer Health, examining critical factors like cash flow, operational expenses, the cost of doing business, vendor relations, and the importance of comprehensive sales training.
D2C & E-Commerce
The growing influence of Direct-to-Consumer (D2C) and E-Commerce channels will be explored, with a focus on how these trends impact the bicycle industry and the strategies that retailers and suppliers can adapt to navigate this evolving landscape.
Human Resources
Human Resources practices within the industry will be scrutinized to ensure that businesses are equipped to meet the challenges of a dynamic market, fostering a positive and sustainable work environment.
Ridership Numbers
The panel will analyze current ridership trends, exploring opportunities to increase participation and engagement in cycling activities.
Marketing Cycling in General
Participants will discuss marketing strategies aimed at promoting cycling as a lifestyle and a
sustainable mode of transportation, seeking to grow the overall market.
Change in Consumer Spending Habits
Understanding the changing dynamics of consumer spending habits will be vital for businesses in the bicycle industry. The panel will explore ways to adapt and thrive in this evolving landscape.
"Radical times call for radical change. We encourage Suppliers and Retailers to participate in this forum, and give the power of collective thinking a chance. There must be a better way to do business. We need each other, and this forum aims to uncover collaborative measures that ensure profitability for all within the industry. Our future pivots on it." commented NBDA President Heather Mason.
The NBDA extends an invitation to all interested parties to attend the inaugural virtual meeting on January 16th, 2024. Attending retailers or industry members will have the opportunity to ask questions via chat. Moreover, the NBDA encourages interested parties to join the panel, submit discussion topics, or request to present to the panel of experts. All panel discussions will be recorded and made accessible to the public on the NBDA YouTube Channel, ensuring widespread dissemination of valuable insights and best practices.
For more information on the Bicycle Industry Retailer & Supplier Best Practices Panel, please visit the NBDA website.
About the National Bicycle Dealers Association (NBDA)
The National Bicycle Dealers Association (NBDA) is the leading non-profit organization dedicated to promoting the interests of independent bicycle dealers. With a rich history since 1946, the NBDA serves as a unified voice for bicycle dealers, advocating for their needs, fostering industry growth, and providing valuable resources to support their businesses.
