FOR the nation’s bicycle shops, the past few years have probably felt like the business version of the Tour de France, with numerous twists and turns testing their endurance.
In 2023, bike sales totaled $4.1 billion, up 23% from 2019, but down 24% from 2020, according to Circana. The path out of the pandemic has been uneven — national retailers, such as REI and Scheels, are stabilizing faster than independent bike stores, said Matt Tucker, director of client development for Circana’s sports equipment business.
McDonell has been forced to cut down to using a skeleton crew of himself and another staffer, down from five previously. His dream of selling his shop to a younger bike enthusiast when he retires is fading. He might close his store when his lease is up in a couple of years. “It became a struggle right after the boom,” Emerson said. “And since then, the manufacturers have overproduced. And they’ve slashed prices dramatically which is good for the consumer. But with the small shops they’re often not able to take advantage of those prices.”