🚴‍♀️ 2024 Bike Industry Crisis to Chaos 🛠️ TPC/ Wholesale / IBD Numbers! Review w/ John Bradley

[@bryan92252]

I feel that bike shops have a major image problem. I'm very new to biking and just bought my first new bike this month. I've always used my mountain bike that my dad bought me in 1998, about twice a year. So I admit when I decided to start riding again, I went into the local bike shop, saw the $8,000 - 12,000 bikes and assumed I was in the wrong place. There are millions of us jeans and tee shirt riders that have $600 - 1000 and want some advice, but have been trained that bike shops are elite specialty shops. I wish I could go back in time and buy local.

[@Andy_ATB]

I think too many bike shops are set up to cater for the performance/ racing cyclist. The tourer, commuter, shopper, etc aren't at all.

[@bullseye0112]

The pro closet was a rip off. Their offers were super low ball and not even that friendly to be honest. The mountain bike industry is way different than road bikes. A bike from 2017 and lower may still be a good bike but it's super outdated and hard to sell.

[@justinofboulder]

I had great experiences selling through TPC during their first ten years. The most recent model didn't work for me, for selling, but I bought two bikes from them (I am very happy with) in the past two years. Customer service was always excellent!

[@jeffkowal-pw3cd]

It seems to me that in the US and in the UK there is a total and utter over saturation - just too many bikes chasing the same or a dwindling number of potential customers . They all piled in during the pandemic thinking that they were so smart and could make easy money . Well they are not making money now are they . They just entered a market that they knew nothing about and now the bills have come through the letterbox. In the UK those bills can be seen through the doors of the empty shops all piled up there behind the letterboxes.

[@parrisgeorge9708]

Thanks for the video I'm a former shop rat that raced in the late 80's early 90's. I've been in and out of the sport for years depending on the stage of life and such. Here are a few observations that I've experienced. There were always shops that had a "vibe" to them that didn't do a great job of welcoming the newer or prospective cyclist. When that happened there were other shops within 15 minutes that those same people would check out and more often than not find a landing place. There was one shop that excelled at capturing a wide variety of cyclists. I mean everyone from the parent bringing their 5 year old in to the Cat2 road racer and all points in between. Other shops were envious. This was in the region that I grew up in BUT I have seen a similar thing play out in other places that I've lived. Those attitudes for whatever reason still exist today to some extent. The difference is that now if someone wants a bike it's easier than ever to let your fingers do the walking and at least get an idea on what's out there. Price has gone up a substantial amount. Those prices likely scare potential cyclists away from the activity. If I really want a top end road bike I can afford one. The thing is that at least for me it's just not worth what they're going for. I currently have 6 road bikes none of which are close to new. My best road bike is a custom built Kirk that I worked with the builder so it would be the road bike I wanted. Even when it was built the cost of top end Trek, Specialized, Cannondale, etc road bikes were outpacing it. There's nothing wrong at all with any of the big company bikes but there's something about the value proposition that just isn't adding up. If we look at other activities like golf, skiing, any number of recreational team sports those aren't inexpensive BUT the barrier to entry is seen as lower. There is also the social aspect which can't be ignored. Distracted driving is something that unfortunately can't be ignored. In the last few years I have changed the times of day as well as general routes due to a concern over getting zapped by someone that's either got their head buried in their phone, are under the influence, OR more likely both. Maybe 3 or 4 years ago a buddy of mine was coming over to my house so that we could ride. He was running very late and when he finally arrived he was banged up. A VERY elderly driver ran him off the road because her eyesight was poor and she was using the fog line as a guide. She clipped him and then yelled that bicycles aren't supposed to be on the road. He took up running shortly after due to how much it shook him. This is something that likely keeps people from taking up the activity. Circling back to a shop experience that drives a point. About 4 or 5 years ago I needed to go into an LBS that I'd purchased items from several times. I make a point of when I walk into a shop I'm there to buy and am not going to waste the shops time to be respectful knowing how tough the business is. On this day there were a few employees there with me being the only customer. I wasn't greeted, I was ignored, and when they finally waited on me the exchange was essentially all one way communication. I bought the things that I went in there for BUT it was the last time I've been in there. I don't recommend the shop to people. This highlights a lowered bar of social skill that may be okay at a big box store selling many types of items. It is not something that will have a specialist shop be successful though.

[@billybob7088]

I still hate for Trek, destroying Klein, Bontrage and Gary Fischer bikes

[@TarmacSkin]

LeMond as well

[@christianwparker]

Trek offered money / paid out founders. Pretty nice outcome if you start a small business that grows. They bought branding, the founders left with money and freedom to pursue their next adventure.

[@maxring837]

Electra

[@javiersmith2216]

That is how you destroy competition. It gives trek pricing power. Trek is now trying to dominate local markets. Their goal is to push out the LBS so they have less competition and they control the distribution. All this gives them pricing power they wouldnt have otherwise.

[@javiersmith2216]

Text book b school

[@Mtb9r]

They’re still pushing emtb costing thousands of dollars. It’s nuts.

[@nationsnumber1chump]

Those are actually one of the cheaper bikes respectively now

[@bigwave_dave8468]

emtp is an adjacency and a nice alternative to small motorcycles -- The market goes beyond pedal-only folks so I see that as a good thing. Also, emtb's and e-assist bikes are great for folks who would otherwise not be able to ride effectively with friends -- as you get older you realized this.

[@Mtb9r]

@@bigwave_dave8468 I agree 100% with your analogy that it gets people out that normally wouldn’t be out. Been in the industry for a lot of years and it’s just hard to justify $10-$15,000 for a bicycle. They have their place. I can do it for much less and still enjoy the holy hell out of it. Happy trails.

[@tobysmusings]

I feel like the behaviour of the industry during the boom hurt the culture of cycling. OK, we always loved our new tech and shiny fancy parts- but it felt like it became more about telling us we need to buy new stuff, and less about the love of riding and building local riding community.

[@neugentcycling938]

Good to see John. I've known him since his early days at Trek and he was partially responsible for me getting my wheel business started (Neuvation) when he was at Schwinn when he spec'd Velomax wheels and put me in touch with Velomax. I was working with a factory in Taiwan that ended building the hubs and wheels. I still am in the wheel business although mostly retired and selling my wheels online out of my garage. I remember 1974 - when business stopped in July of that year "the end of that bike boom." I think this is worse. If my memory is right, it was slow until '82. I think the only thing a shop can do right now is to keep your head down and look for any opportunity.

[@garyjensen1602]

Cyclist here, i do have numerous high end road bikes and each bike has it's own purpose or quality. But my next purchase to spend the money i did will be for a bike with a motor. No e bikes.

[@The_Blessed_Cowboy]

Id never buy a new bike as id never buy a new truck. The ski resorts have well maintained bikes go on sale at the end of the season for less than half the cost of new. Best way to try out a different bike every few years.

[@Raymond-t3n]

I absolutely love cycling so I don't mind spending lots of money to do it. But I won't spend the money on over inflated junk. In my opinion that's what carbon is, JUNK. I think a ton of people have realized that also. The carbon frames and aero wheels do have a huge attraction and cool factor but they just will never compare to the durability of a steel or titanium bike. I will only have my frames made by custom builders which do cost money but some of the high end carbon bikes go for more, so custom is a far better value. At least you'll have some piece of mind that the thing is going to last a long time. I think shops should move more towards selling bikes for custom builders than just supporting the major brands but it would mean the process of buying a bike would be a lot slower, or maybe not, my first titanium bike was a Merlin I bought in a bike shop. That shop carried the brand and had several frames on display. If you're going to spend big money you should be patient and smart because it's been proven the industry will say just about anything to get your money. As for buying used, I don't buy used. And I will never buy from eBay or any other platform where there is the possibility that the merchandise could have been stolen.

[@zacknagel827]

I think a lot of treks issues are trek themselves. It’s not a reliable place to get good service. You have a very high chance of getting a sales guy not selling you what you need. And on top of that, gen x + all hate the company for killing off iconic brands and being corporate. And now specialized is walking VERY close to that side of the pond. Just have a cool atmosphere that does the community a good service with some good brands of the people recipes for success.

[@PrecisionEBikes]

Thankfully, the electric assist section of the bicycle industry continuous to grow. More road bike conversions than ever before, and I started back in 99! In Europe, E Bike sales is more than 50% of bicycle industry sales.

[@nationsnumber1chump]

They are finally building a bike friendly eatery on my favorite trails thru my town. I need an ebike when I dont feel like riding my gravel bike to go get food there 🤔

[@cupidstunt1975]

a huge uk distributor - I-ride - has gone bust today in the uk. The staff didn’t get paid this week and they won’t be.

[@draugmithrin]

Wow, that's massive news and blow to bike industry.

[@IKnowAGuyBicycles]

Thanks for sharing!

[@stevenwilliams7845]

I think the prices of bikes have just gone outrageous I mean no bikes cost you $10,000 even $20,000 unless it’s a professional machine. This guy is loving off but for the average rider nobody needs a $10,000 bicycle that industry because I remember back in the 80s and $800 bike with a lot of money for your parents for you to take out of your family fund. It was just outrageousfor a bike ride around your neighborhood I’ve been a part of bicycle since forever 40 years. I love Bike and terrible things to see what’s happening to our industry because of corporate greed companies they’re not because because they can make money destroy market.

[@Andy_ATB]

The only cyclists that need $10,000 bikes are those who race, and get given them......

[@Blueskycycles]

Well call me crazy then. If you want your own shop, there is no time like the present.

[@nationsnumber1chump]

I know a kid who started one this year in my town. He rents out a tiny shipping container in a retail area.

[@justinofboulder]

@@nationsnumber1chump A small shop just opened in my town (Parker Colorado) and seems to be doing pretty good, mostly repairs and building a community. They are so much better than the local chain store in town!

[@IKnowAGuyBicycles]

I meet them at a charity event. Nice people and will check out their store the next time I'm in town. That's the warm hug I'm talking about!

[@IKnowAGuyBicycles]

@Blueskycycles Hope your are doing well and building your community. During the offseason we should hang out and shop talk.

[@billjames3030]

​@@IKnowAGuyBicyclesTrillions and Trillions of stimulus cash was handed out like Halloween candy. Now Americans are broke and bkie sales down. Maybe with 2025 recession they will inject 20 Trillions back into consumer bank accounts.

[@godismeme272]

Is Best Buy going to do repairs 😂 that Geek Squad better start working overtime

[@CogMarks]

Ordering a middle of the road 7k mtb bike from Trek shouldn’t take 3/4+ months with the delivery date constantly moving out.

[@KN-ko8ez]

Mid-level bikes costing $7k 💀 The delivery date isn’t the problem…it’s the fact that bikes are so outrageously priced that is the problem.

[@Sills71]

The Pros Closet was a joke from the start. There was NEVER the margin in used bikes that a large retailer needed. TPC grew so much because they posted large REVENUE, not profit, that attracted large investment dollars and then COVID (and I still can't believe people could not see that was temporary) boosted profits that made it look good.

[@barrettwalker5294]

Interesting conversation, thanks. Do you think the direct-to-consumer companies had an impact on the demise of "The Pro's Closet"? I think they did, because they offered new bikes that were good quality had better componentry than competitors and a lower price.

[@jensenhealey907efi]

I would NEVER consider buying an ebike from someplace like BestBuy. You know their aftersales service would be just total crap and since an ebike is a complicated piece of equipment there is always going to be something that will need some sort of adjustment or repair after the sale.

[@andrewlipsiner9791]

GREAT content Especially at around 20 minutes in Placing a really nice , well spec'd used bike next to a current GEN NEW bike as a reference. The last few years , I have been buying either NOS or lightly used High End Road bikes and components,that were the best , pinnacle of their eras. For the majority of cyclists, these SUBERB bikes provide all the performance parameters boxes ticked for a fraction of what they cost new as well as a GREAT ALTERNATIVE, when compared to NEW. If you have the skillset , and experiences, like I do , to hunt these down , you will be pleasantly surprised on how good these bikes are You should do a series of just that Compare a really nice , well spec'd used bike to a current NEW bike

[@IKnowAGuyBicycles]

I do mention it in my "This Old Bike" videos, but I should show the Apples to Apples frame and spec. Comparisons. Thanks for sharing!

[@kwwilson3057]

What do E bikes have to do with cycling ? I cycle for exercise, own a 1998 Colnago Master Extralight and 2015 Cervelo R13. If I Want to E bikes, I get on the Street Glide

[@timstooksbury6398]

Good morning!

[@hill160881]

It’s simple. When I can build an entire titanium bike for what many carbon frames cost prices are out of hand. I can go to Walmart and get a ozark gravel bike in one of three sizes and with proper maintained it will last many many years and thousands of miles. Other than weight what will a 10,000 bike do that $300 bike from Walmart won’t? Right nothing. Seriously. $300 Walmart bike with $600 elite wheels and $600 electronic wheeltop shift system and you are at $1700 max. Show me the $1700 gravel bike from any company that is under 9kg with electronic shifting and carbon wheels.

[@n22pdf]

Orro in the uk has also gone into administration.. 😢 Pete

[@IKnowAGuyBicycles]

Thanks for sharing. It's a rough road for many companies in our current market.

[@IdahoFatTireBikeFun]

Nothing controversial so far! Also no video or audio because I am a minute early.

[@eric106071]

Hair looking good Dude

[@IKnowAGuyBicycles]

lol, I'm faster around the shop now. Aero Mech Speed!

[@JoyceHammond-d5r]

Factory problems

[@waltk7624]

Trek more involved in politics than bikes . Ex Tammy I do nothing for 6 yrs then show up with daddy’s money 😮

[@maxring837]

Scooters have stolen your mojo.

[@Sills71]

LMAO at the stupidity that has torpedoed the bike industry, NO bike is worth $10k, that is a HUGE margin, You can buy a NEW motorcycle at that level.

[@deanpesci8484]

I bought my last bike in 1996 from Dong (RIP) at Denver Spoke. De Rosa '57 Replica thin tubed fully lugged "Columbus Especiale" steel rocketship. "This da bike for you bud!" Yea, it actually was....I was born in 1957, which was cool, and I rode that bike one year in the Denver-Aspen Classic one day monster ride.....I miss those days...a lot simpler time.

[@IKnowAGuyBicycles]

Thanks for sharing.

[@billtucker2414]

Can you talk about how blindingly bright lights are now? Why can we go back to gentle six watt lights on bike trails

[@ljhoule3394]

Good riddance, over priced always!