Please "Like" and also " Share" to keep the conversation going. Coming up next Tuesday is 🚨"LIVE Shop Talk Tuesday.🎬 "at 10am Mountain Standard Time. We will dive deeper into this. More insights "As The Wheel Turns, So Do The Days Of Our Rides" playlist: ruclips.net/p/PLdfUXv0-z1u42bZpCLWmT2VtNW-7AIf2A Tools and Products Featured (Affiliate): 🛠 Shop Tools to Parts That I Use in the "Garage Shop": www.amazon.com/shop/iknowaguybicycles 🚿 15% Off Lithium Products that I used in this video: lithiumautocare.com/?ref=IKnowAGuyBicycles 👕 "The Guy's" T-Shirts: i-know-a-guy-bicycles.myspreadshop.com/
This is going to be a total win for REI. Their service centers will make some $$, They will sell more bike accessories and they will get new customers that are not regular camping/outdoor folks. Total win for Canyon. They get a quality local service center without the expense of building it themselves. I ❤ my local REI and they have very good folks at the service center. NO SHITTY ELITIST SNOBBY ATTITUES LIKE I GET AT THE CORP TREK STORE . REI has immediately available basic parts like chains, QL, cassettes, cables, TOOLS, and they are open till 9pm. The big shops are all "we can order it for you" now. Good to see these two brands doing good busniess.
The bike industry is struggling. It's good to see some companies being creative and changing business models. This also shows the limitations of Direct To Consumer models.
I think it's even simpler for REI.....it should make their service depts. busier, which means having enough work to keep their best current mechanics on staff, possibly poaching others, which means offering better service to anyone needing work done.
They will do better, but we will see if holiday sales stack up. This will be one of many changes we will see in the coming months-and not just Canyon and REI. Thanks for watching!
Impacts smaller & DCT brands the most. It is survival of the fittest right now in those segments. The Big-3 are all at a place of market supremacy that they just keep iterating while the smaller brands rise & fall.
Good move for REI. I have not looked at REI for bicycles in the past. I have been looking at Canyon for a future purchase, but was concerned about the service aspect. This might help my decision. One negative thing about REI is the move away from outdoor activities (hiking, camping, skiing, etc) and the expansion of clothing. (Have you looked at a LL Bean catalog recently?) Shopping at my local REI, the floor is dominated by "fashion" accessories. Yes, it still carries outdoor products, but more space each year is taken over by clothing. I guess it has to go where the $$ are. (I have been a REI member since 1987.) - Tim
Don't forget Abercrombie & Fitch was a sporting goods brand originally; L.L. Bean is an other version of the same business evolution. Clothing has a huge markup compared to any sporting goods, and I'll assume it's very easy to outsource production to Asia.
Clothing is a profit maker for outdoor and sporting goods retail. I've been there when I worked at Big 5 Sporting Goods for 9 years. They will be doing anything to refresh their storefronts every time you walk in. At this point, they are trying everything to drive even the smallest sales. Great point! Thanks for sharing.
Was my first comment deleted? I said that REI will likely lose money on these recall services. Full suspension e bikes and internal routed bar-stem combos are a nightmare to work on. Canyon will pay fixed rate for each repair. REI has to recover any lost money by selling additional services or outdoor gear. The increased foot traffic might be good, but the warranty issues are a problem
I this will be a win for both Canyon and REI. I’ve never had a bike serviced at REI but I’ve always been really impressed with the level of customer service and enthusiasm of their employees. I can’t make that claim about any local bike shops, at least none that are still open😢
At this point, the market will drive shops to be a lot more loving to each customer. Or they will go under. The state of retail is not good. But Dick Sporting Goods is showing a good profit. Thanks for sharing!
Rei lost $300 million in 2023. That is a lot of money. All text b school. Their sponsorship of a pro team give them more marketing power than any other industry but the heath care industry. Outsourcing their production to the far east lowers their manufacturing costs. Controling their distribution channels gives them more pricing power. However, Canyon doesnt have a reputation of managing quality control on their carbon frames. Also the lack of stnd headsets and seatposts diameter and internal cabeling is just away to take advantage of consumer. Rei would be better off protecting their consumers and selling and distributing retro bikes. People who race bikes wont go to REI. People who commute by bike or tour by bike will go to rei. Rei should focus on the loyalty of this target mkt.
I will NEVER purchase canyon bikes ....Labron is part owner - "aint no party like a diddy party". I dont support or condone child abuse, trafficking and baby oil makes me break out,
Please "Like" and also " Share" to keep the conversation going.
Coming up next Tuesday is 🚨"LIVE Shop Talk Tuesday.🎬 "at 10am Mountain Standard Time. We will dive deeper into this. More insights "As The Wheel Turns, So Do The Days Of Our Rides" playlist: ruclips.net/p/PLdfUXv0-z1u42bZpCLWmT2VtNW-7AIf2A
Tools and Products Featured (Affiliate):
🛠 Shop Tools to Parts That I Use in the "Garage Shop": www.amazon.com/shop/iknowaguybicycles
🚿 15% Off Lithium Products that I used in this video: lithiumautocare.com/?ref=IKnowAGuyBicycles
👕 "The Guy's" T-Shirts: i-know-a-guy-bicycles.myspreadshop.com/
Smart move by REI. Very smart move.
I agree, so smart.
What happens if canyon cant cough up the money for sponsorship of a pro team. Suppose they are out bid.
Indeed.
We will see. That goes for Trek and Specialized as well. They are not in good health at all right now.
“REI has a great service department” is the best joke I’ve heard all day. Thanks for that laugh
They are not consistent through the chain; some are good, some not so much.
I think Canyon has bigger problem right now with there battery recall on all the E-bikes
That's a good question on how REI is going to handle those issues.
This is going to be a total win for REI. Their service centers will make some $$, They will sell more bike accessories and they will get new customers that are not regular camping/outdoor folks. Total win for Canyon. They get a quality local service center without the expense of building it themselves. I ❤ my local REI and they have very good folks at the service center. NO SHITTY ELITIST SNOBBY ATTITUES LIKE I GET AT THE CORP TREK STORE . REI has immediately available basic parts like chains, QL, cassettes, cables, TOOLS, and they are open till 9pm. The big shops are all "we can order it for you" now. Good to see these two brands doing good busniess.
Service is saving my business this year. It is a good move, for sure. Thanks for sharing.
The bike industry is struggling. It's good to see some companies being creative and changing business models. This also shows the limitations of Direct To Consumer models.
Great point! Performance Bike opened a lot of stores to support the D2C model.
I think it's even simpler for REI.....it should make their service depts. busier, which means having enough work to keep their best current mechanics on staff, possibly poaching others, which means offering better service to anyone needing work done.
Great point, thanks for sharing.
REI will be the winner here in the USA and Canyon will get a boost here as well. The rest will be left to struggle. ❤👍🏻
They will do better, but we will see if holiday sales stack up. This will be one of many changes we will see in the coming months-and not just Canyon and REI. Thanks for watching!
@IKnowAGuyBicycles I have the popcorn ready to pop 🍿🥸
Impacts smaller & DCT brands the most. It is survival of the fittest right now in those segments. The Big-3 are all at a place of market supremacy that they just keep iterating while the smaller brands rise & fall.
Seems to be the case. Thanks for sharing.
Good move for REI. I have not looked at REI for bicycles in the past. I have been looking at Canyon for a future purchase, but was concerned about the service aspect. This might help my decision. One negative thing about REI is the move away from outdoor activities (hiking, camping, skiing, etc) and the expansion of clothing. (Have you looked at a LL Bean catalog recently?) Shopping at my local REI, the floor is dominated by "fashion" accessories. Yes, it still carries outdoor products, but more space each year is taken over by clothing. I guess it has to go where the $$ are. (I have been a REI member since 1987.) - Tim
Don't forget Abercrombie & Fitch was a sporting goods brand originally; L.L. Bean is an other version of the same business evolution. Clothing has a huge markup compared to any sporting goods, and I'll assume it's very easy to outsource production to Asia.
Part of this may be to offset some sales declines in other inventory, at least that would be my hope.
Clothing is a profit maker for outdoor and sporting goods retail. I've been there when I worked at Big 5 Sporting Goods for 9 years. They will be doing anything to refresh their storefronts every time you walk in. At this point, they are trying everything to drive even the smallest sales. Great point! Thanks for sharing.
I was hoping you would tell us REI was going to have Canyon bikes in their stores.
I would suspect it's baby steps, and if it's a good fit, they will.
Was my first comment deleted?
I said that REI will likely lose money on these recall services. Full suspension e bikes and internal routed bar-stem combos are a nightmare to work on.
Canyon will pay fixed rate for each repair. REI has to recover any lost money by selling additional services or outdoor gear. The increased foot traffic might be good, but the warranty issues are a problem
Thanks for sharing, I didn't see you first one.
What...$10,000 bikes are difficult to sell???
I this will be a win for both Canyon and REI. I’ve never had a bike serviced at REI but I’ve always been really impressed with the level of customer service and enthusiasm of their employees. I can’t make that claim about any local bike shops, at least none that are still open😢
At this point, the market will drive shops to be a lot more loving to each customer. Or they will go under. The state of retail is not good. But Dick Sporting Goods is showing a good profit. Thanks for sharing!
Rei lost $300 million in 2023. That is a lot of money.
All text b school. Their sponsorship of a pro team give them more marketing power than any other industry but the heath care industry. Outsourcing their production to the far east lowers their manufacturing costs. Controling their distribution channels gives them more pricing power. However,
Canyon doesnt have a reputation of managing quality control on their carbon frames. Also the lack of stnd headsets and seatposts diameter and internal cabeling is just away to take advantage of consumer.
Rei would be better off protecting their consumers and selling and distributing retro bikes. People who race bikes wont go to REI. People who commute by bike or tour by bike will go to rei. Rei should focus on the loyalty of this target mkt.
That's a far point; thanks for sharing.
So like four weeks ago.😂
True, but it wasn't talked about, or at least in depth. It's bigger than one would think.
Labron James is a poison pill.
I will NEVER purchase canyon bikes ....Labron is part owner - "aint no party like a diddy party". I dont support or condone child abuse, trafficking and baby oil makes me break out,
I hope you don't support trump as he was good friends with jeffrey epstein and party together.