Cost of Doing Business Study returns, NBDA invites retail participation

The National Bike Dealers Association (NBDA) this week invites US-based retailers to participate in the 2022 Cost of Doing Business (CODB) Study, a unique opportunity to benchmark your company’s results against other bicycle dealers by region, sales volume, type of store, and more.

Retailers who participate in the report and submit data will receive a complementary version of the report valued at $399.

“I am pleased to bring this valuable report back to our industry. The data within provides a benchmark that we can use to best guide our movements across all sectors. It is top priority that retailers have access to the data contained within. All retailers that participate will be provided a final report for personal use. We want to paint an accurate picture, I urge all retailers to take the hour to participate, as the more retailers that provide data the richer the result,” stated NBDA President Heather Mason.

Long considered a benchmark report for doing business in the US cycling industry, the NBDA’s Cost of Doing Business Study will be released in July of this year after a seven-year hiatus. The 2022 Study has been made possible with funding support from BikeExchange.

The CODB Study is the only data report of its kind in the USA. The side-by-side comparisons found in the data can allow retailers to spot differences and make corrections as needed to improve performance. In the past, the NBDA says that bicycle retailers using the data were guided in shifting and adjusting their businesses to make a net pre-tax profit on the sale of new bicycles – in some cases, for instance, by adding used bicycles to their merchandise mix.

Suppliers and manufacturers can use it as a guide to what margins may work best for retailers. A brand that understands the real importance of taking action to help their authorised dealers earn a fair and equitable net profit will appreciate the CODB study data.

All retailer responses will be held in strict confidence by Industry Insights, an independent research firm retained by the NBDA to deliver a secure results platform. At no point will retailer responses be shared with NBDA or any other person or organisation.

Retailers are encouraged to complete this questionnaire by, May 15th, 2022. To do so, visit the secure research portal at https://secureii.com/NBDA/Account/Login.aspx.

For UK cycling market insight, CyclingIndustry.News annual Market Data effort has this year resulted in a 48-page report that can be used in a similar way to the aforementioned NBDA USA study. To enquire about pricing, email the editor here.