Comprehensive Industry Survey Open for Retailer Participation Until July 7th, 2024
Irvine, CA — June 3, 2024 — The National Bicycle Dealers Association (NBDA) is pleased to announce the launch of its highly anticipated 2024 Cost of Doing Business Survey, conducted in collaboration with Industry Insights, Inc. This crucial survey will remain open for bicycle retailers to contribute their data until July 8th, 2024. The resulting report, containing invaluable insights and benchmarks, will be available in August 2024.
The 2024 survey focuses on data from the 2023 calendar year and has been meticulously revised to include additional categories such as online sales, click and collect, the used bike market, and the e-bike marketplace. This comprehensive research effort offers the most current and detailed comparative financial performance information available for bicycle shops.
"This survey is a vital tool for specialty bicycle retailers to evaluate their operating results and identify key areas for improvement," said Heather Mason, President of the NBDA. "The insights provided will help retailers pinpoint their strengths and weaknesses, allowing them to make informed decisions that can drive their businesses forward."
Participation in this strictly confidential survey will provide detailed financial and operating information from industry operators, categorized by sales revenue size, store type, geographic region, and number of locations. Retailers who contribute their data will receive a complimentary copy of the final report, enriched with additional insights, offering a valuable resource for enhancing their business operations.
The NBDA Cost of Doing Business Survey is expertly compiled, tabulated, and prepared by Industry Insights, Inc., a professional research and consulting firm renowned for its industry operating surveys, compensation studies, educational programs, and customized research services.
Using the information gathered, bicycle retailers can benchmark their own performance against similar firms in various categories, including revenue size, store type, geographic region, and high-profit firms (those in the upper 25% based on before-tax return on assets). Identifying significant differences between a store's performance and industry composites is the first step toward performance enhancement.
Retailers who do not contribute data will have the opportunity to purchase the report on the NBDA website in August 2024. Additionally, suppliers and brands will be able to obtain the report to better understand the market dynamics and support their retail partners.
The NBDA urges all retailers to participate in the survey. To do so, please follow this secure link provided by Industry Insights.
For more information about the National Bicycle Dealers Association and its initiatives, visit NBDA's website.
