BOULDER, Colo. (BRAIN) — The dealers association and suppliers association are working with The NPD Group (formerly Leisure Trends) to offer a free market data program to specialty retailers.
"We are committed to helping independent bicycle dealers thrive in today's challenging retail environment, by providing them with the market insights needed to make better buying and merchandising decisions," said Todd Grant, the president of the National Bicycle Dealers Association.
Grant said, "We have been working with NPD since 2015 Interbike to create a program specifically for NBDA members. Utilizing the knowledge, experience, and insights of the NBDA's P2 group members, NPD has travelled to meet with as many as 45 of our best retailers to learn firsthand how this information can be used when making buying decisions at product, category and vendor levels, as well as how to improve the bottom line with better inventory management. This is the information that the industry uses for measurements of performance. This gives the IBD unbiased information they need. To continue to improve the accuracy of these reports, we ask that more NBDA members sign up for this free service and reap one of the benefits of NBDA membership."
The program provides retailers with tools to analyze vendor and product model performance across the store's entire assortment to optimize the product mix. It also allows the creation of customized reporting to analyze store performance against industry sales to identify growth opportunities and exit declining categories.
"It makes perfect sense that our organizations are working together to increase the accuracy and availability of cycling industry sales data," said Adam Micklin, the president of the Bicycle Product Suppliers Association. "Suppliers and retailers are experiencing the rapid pace of change in purchasing trends of cyclists. We need to continue striving to be smarter, leaner and more efficient in every step of the process to produce the greatest value to our customers. Collaboration between the BPSA, NBDA and NPD is the right solution to achieve these objectives by leveraging information to make the sales and supply of products more transparent."
More information: NPD Specialty Retail Partner Information & Registration, or contact Todd Poseley at email@example.com