You don’t have to be a rocket surgeon to know that people prefer to pay less. All other things being equal, if two stores offered the same product at different prices, people would go to the store with the lowest price. Of course, all other things are rarely equal, particularly when you’re selling online and every store is trying to develop a unique selling proposition, something that will differentiate them from the rest and drive customers to their store. Price is only one of the battlefields.
Bicycles Network Australia has thousands of internet savvy cyclists within its community and thought that it would be a good idea to ask these cyclists about the reasons they purchased online (and a bunch of other questions), and so the 2013 Ultimate Cyclist Survey was born. Almost 800 detailed responses were received and laboriously analysed, and the biggest motivation for online shopping is…..(wait for it)…..price.
A whopping 95% of respondents identified price as a major advantage of online shopping, but that wasn’t the only standout motivator. In this digitally ubiquitous age, 75% of respondents found online shopping simply more convenient than going to their local bike store, and almost 80% of respondents preferred shopping online because it offered more choice. Searching for and comparing the prices of items at multiple stores with the click of a button while simultaneously watching the Orica GreenEDGE Backstage Pass videos at the local cafe after a bunch ride seems to be de rigueur in the cycling community.
So while these finding may be rather obvious, what’s not so obvious is that although online shopping might provide cheaper prices, more convenience, and a wider range of items to choose from, survey respondents, on average, spent the same amount on money in local bike stores (LBS) as they did online. Of course, it could be said that they’re buying fewer items for more at the LBS, but the other survey responses showed that there is something about the LBS that will still get customers in-store and spending. Our modern consumer cyclist wants all that online shopping has to offer as well as all of the benefits a physical bike store represents, and we know what the old maxim says – the customer is always right.
Bicycles Network Australia has published an industry report for brands, wholesalers, online retailers, and Bricks and Mortar retailers, with detailed online retail and sales insights to provide a competitive edge. Further details about the Australian Online Cycling Marketplace Report 2013.