By Dave Goeppner
Editor’s note: Dave Goeppner is the founder of Cycling Project Solutions and works as a contractor in the bike industry providing short and long term project support in Finance, Sales, Marketing and Strategy.
Last week the NPD Group announced that 2017 outdoor gear sales decreased by 6% from the prior year. The decrease was attributed to the buying habits of millennials who favor ‘good enough’ products vs. the higher-end, specialized products preferred by older generations. Is the bike industry prepared for this shift?
Matt Powell, NPD’s senior adviser for the sporting goods industry doesn’t think so. He was recently quoted in an Associated Press article saying “I think the outdoor industry has not responded to this shift in the mindset of consumers”.
There are reasons to believe he is right.
The majority of the cycling brands occupying floor space at IBDs are focused on enthusiasts with specialized, premium-priced gear. The reason, of course, is that most of us in the industry are enthusiasts ourselves. We can therefore be biased toward products that get us excited. In the past this often worked as there was a sufficient number of like-minded consumers. That’s now changing and, as …read more