DRM
Guru
- Location
- West Yorks
Looks like NRG Bikes in Stockton on Tees is being wound up, another victim of the current state of the cycling industry
And it's not just the retailers and distributors that are feeling the chill, Giant saw its third quarter profits for 2023 fall by nearly half. They site weak demand.
https://road.cc/content/news/weak-demand-sees-giants-profits-fall-49-305241#:~:text=Giant Group, which in December,drop of 49 percent compared
I blame the likes of wiggle/ chain reaction etc and customers using the internet.Looks like NRG Bikes in Stockton on Tees is being wound up, another victim of the current state of the cycling industry
I suspect that the majority of LBS will be gone by this time next year. A pessimistic outlook I know but, like so many other sports/hobbies, the bricks and mortar businesses can't compete with Internet shopping on price or availability. My other serious hobby is photography and camera shops were in the position LBS now find themselves in three to five years ago - most are vague memories.
The businesses that have a chance of survival are the ones that adopt an active online only retail presence and can offer repairs and maintenance. The latter part will likely have to go mobile to save on business premises rental, rates, electricity, etc..