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Market Data
Service

Steve Garidis, Executive Director of The Bicycle Association

“Customers, trading conditions, and market trends in cycling have never evolved faster. And the cycling industry has never been more diverse and competitive. Cycling is growing: in sport, in leisure, for families, for health and for transport. 

Now our industry needs accurate market data more than ever. Join the Bicycle Association’s Market Data Service to provide your business with insight to drive performance, stay competitive, and boost your bottom line. And so as an industry we can influence Government policy to properly support our growth”

FREE for independent bikes shops with turnover <£5m

 

Why do we need market data?

 
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To become stronger

The cycling industry has enjoyed a sustained period of success in the past two decades in spite of the lack of good customer data and market insight. However, there is good evidence to show that the success has faltered and we know that it has become increasingly difficult for cycling businesses to either unlock the next level of step-change growth or indeed in some cases, remain viable. Good market data can help us all win and grow the market by helping businesses understand customers better through best-practice benchmarking down to a granular level. Understand your performance in the context of the market and you will know what’s needed to grow sales and improve profitability.

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To be influential

All around the country, government is coming to terms with the need to address the triple concerns of congestion, pollution and obesity. Cycling is uniquely placed to tackle all three and yet we have little voice or authority at the table when government is deciding on transport infrastructure of the future. We need to raise the bar, using good data and insight to make our case, so that the future is not all about electric autonomous cars. The high quality, real-time insight offered by this Market Data Service can help us both demonstrate the value of the cycling Industry to the economy and ensure cycling is embedded in government transport policy.

 

What’s in it for retailers?

Other than the positive contribution market data will make underpinning our advocacy strategy and supporting our influencing agenda with Government on transport strategy, market data can really help cycling businesses sell more and make more money! The areas highlighted below provide just a few examples of how market data can really help:

 
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Better range planning

The BA Market Data Service will enable you to analyse to a detailed level the performance of your sales categories and compare it to how the market is doing in that area. Once you understand that you are in fact underperforming in hybrid bikes between the £300 and £400 price point, compared to the average of your competitors in your region, you will really know where to target your range selection. Then look at the top 10 best selling models in the market as well as talking to your suppliers and make a more informed choice about what to order.

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More effective promotional strategies

Running a promotion on a range of products and want to see whether it was worth doing in the context of what your competitors did? Compare the average price before during and after the promotional period both for your business and the average of the market or sector you're in and analyse how much sales and units increased by versus everyone else to see what was truly incremental or value destroying.

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More efficient inventory management

Have you got half way through the season and run out of your best-selling lines and want to know whether to re-order? Look at your market data to see how heavy or light the market is on these items and how well they are selling to qualify your decision.

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More targeted innovation & product development

Want to know where to place your bets for next season using more than just your own data, gut feel and sales representative persuasion? Look back at which categories of products and services have been growing consistently over time and assess whether you are under or over ranged vs the market. What are the best sellers in these categories? Target your qualitative customer insight in the areas identified and determine what innovation customers are looking for.

 

How does it work?

The BA will own the cycling retail audit on behalf of, and for the benefit of, its members. The BA has selected Sports Marketing Surveys Inc to run the service for the BA for at least the first two years, starting Jan 2019. SMS Inc are a tried and tested supplier of market data services in other sectors and markets worldwide. Click here to find out more about SMS.

 
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Data collection

Anyone can take part. For those with an EPOS provider, it's quick, easy and fully automated. SMS will collect a monthly data feed of “raw” sales (units and stock data). If you don't have an EPOS provider, we can send you an online survey instead. It will have just 10 short questions to complete. SMS can also accept "custom feeds" via a central database, if you have your own in-house EPOS system. The service will collect data for all UK cycling-related products such as bikes, accessories and services. Sales across bricks and mortar shops, click and collect and on-line are all included. Once SMS have collected all the raw data, they will “clean” it to resolve anomalies, match it across every contributor and aggregate it into Market Sectors.

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Reporting service

Three weeks after the end of each month, the latest reporting period will become available via the on-line dashboard which is accessible via the BA website. The dashboard will show latest month, latest quarter and latest 12 months vs the same period from the previous year. What you will see on the standard service will depend on what service level you subscribe to (click here to see). Only BA members can access the standard monthly reporting service and will need to subscribe for a minimum 12 month period (click here for membership details). SMS will also provide a bespoke reporting service either for non-members to access reporting without having to subscribe to the regular service or for companies wishing to create more bespoke views of the data than that which are included in the monthly reporting suite. It will always be cheaper to access the standard or bespoke reporting service as a BA member. NB reporting shown will always be based on actual data received. Some views will also include a scaled up version to estimate the total market.

 

Service levels

Members will be able to buy into the Market Data Reporting Service at 3 different levels which should ensure we can adapt to different levels of budgets and reporting needs. Please note that all members who sign up to the Market Data Service before the end of May 2019, will be eligible for a FREE upgrade to the Silver level service.

Independent bike shop businesses with a UK cycling turnover of less than £5m can choose to subscribe to the paid-for Bronze, Silver or Gold level service OR can access the FREE IBD bespoke service (more details to follow).

Please note that to subscribe to the reporting service, you must first be a BA member and contribute your data to the Service, if you sell cycling goods and/or services to UK customers via either bricks & mortar shops or online.

Once the service has launched and we have a few months of operation, we will have a programme of continuous development leading to new functionality being developed in line with user feedback. 

 
Service level Bronze Silver Gold
Latest quarterly and 12 monthly fixed reporting (PowerPoint or Excel) vs prior year and prior quarter with SMS analysis / commentary    
Analysis at market level across value sales, unit sales, stock value and stock units (stock where available)    
Analysis at Channel* level    
Analysis at Category level    
Analyisis at Brand level**    
Access to reporting service via a 24/7 dynamic on-line dashboard, data refreshed monthly    
Analysis for latest month vs prior year and prior month    
Compare"my" data vs the dashboard view    
Analysis down to sub-category level    
Analysis by type of seller*** within channel    
Analysis by price point    
Analysis at SKU level    
Analysis of SKU count    
Analysis by region****    
  • Reporting functionality is cumulative e.g. Silver has all of Bronze and Gold has all of Silver and Bronze functionality

  • View of any one ‘chunk’ of data always subject to data contributor anonymity levels i.e. no one retailer having >50% share. Otherwise view moves up a level

  • Data to be refreshed within a maximum of 3 weeks after the end of the month

  • *Channel definitions include Bricks & Mortar, Click & Collect, Direct to Consumer etc, **For retailers consenting to share their own brand data, ***Type of seller to be split by Specialist and Generalist and bricks & mortar vs online, ****Regional view available subject to minimum 25% of retailers in an area contributing data

Retailer anonymity guaranteed

We take our members anonymity very seriously. As such we have built in four safeguards to ensure this.

1

Use of an independent service provider bound by a strict confidentiality requirement. SMS Inc are a trusted and reliable service provider in this space and have a track record of delivering high quality market data services in different sectors and different countries where preserving anonymity is an important cornerstone. No-one other than SMS will ever see individual business’ raw data and SMS have signed a contract with the BA such that not even the BA can see your raw data.

2

Data is cleaned and aggregated by SMS and then used to feed the market data dashboard so that other companies will only see averages for the market, sector, category etc.

3

Only you will ever see your own data in the reporting service if you subscribe at Silver or Gold level. Unless of course you choose to share it! This is one of the most powerful aspects of the Service; seeing your own data alongside the market, your sector, your region etc.

4

No-one will be able to reverse-engineer a view of your data. There is an algorithm in the data which means that if ever one individual retailer exceeds 50% share of any particular view of data, it won’t be shown.

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All the reporting tools are based on Market Sectors. If you are in one Sector, you can't see data in another Sector. For example, a retailer in GEN1 can only see what's happening in the GEN1 Sector. This is also means your "My Business vs The Market" comparison tools are appropriate and useful. After all, you only want to compare your performance against a pool of similar retailers.

Who’s in? 

In order to produce a high quality market data service for the Cycling Industry, we really want to encourage as many members as possible to take part by contributing their data and using the reporting service. The more participants contributing their data, the more accurate read of the market we will have and the more useful it will become. We are targeting an accurate read of 70% of the market by the end of 2019. 

Furthermore, because the Service is managed by the BA on behalf of the industry, once all the core service costs are covered, all extra revenue generated will be used to either develop the service or lower the costs, so a win-win for everyone!

From launch we will have c40% market coverage including all the brands listed below. As awareness of the service grows, we expect many more retailers to come on board.  

We also have over 150 independent bike shops who've already registered an interest in joining the service and we'd like to target 500 within the first year. Independent bike shop businesses with a UK cycling turnover of less than £5m can choose to access a tailored version of the reporting service for FREE as long as you contribute your data to the Service. 

 

What does it look like?

The market data dashboard will go live from June, reporting on April’s data. The 2 brief video clips below from our dashboard prototype version will give you an idea of the look and feel of the dashboard and some of the functionality.

 

Dashboard preview

Example of its practical application

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What support will there be?

  • On-line “how to use” webinars

  • Self-help FAQs

  • Helpdesk during business hours for the buyers of the bronze, silver and gold service

  • Quarterly User Group for feedback and development

  • Updates at Quarterly BA Members’ Meetings

  • Support from sales reps (IBDs)

What will it cost? 

 

The BA has tendered the market data service and selected a partner in SMS Inc who offers the best outcome in terms of quality and price. In order to recover the costs of the service in as fair a way as is possible, we have tiered the service so it is affordable based on the size of business you are and what level of service you wish to access.

Please see below our charges matrix. To subscribe to the monthly paid-for service, you must contribute your data if you sell to consumers either via shops or on-line and you must be a BA member (click here to see membership details). The minimum period to subscribe is 12 months but members subscribing for 2 years will receive a discount. 

If you are an IBD with a UK Cycling turnover <£5m, you can access the monthly IBD reporting service for FREE as long as you contribute your data. You do not need to be a BA member for this.

Early bird offer

Everyone signing up to the paid-for service by the end May 2019 will be eligible for a lifetime FREE upgrade to the Silver Service giving access to the dynamic dashboard, monthly instead of quarterly reporting and the "compare to my business"  service (where possible).

Annualised Charges Bronze Service Level Silver Service Level Gold Service Level
BA Member UK Cycling Turnover Tier 2 Year Contract £k 1 Year Contract £k 2 Year Contract £k 1 Year Contract £k 2 Year Contract £k 1 Year Contract £k
< £5m 2.0 2.5 2.3 2.9 2.5 3.1
£5-10m 5.0 6.3 5.8 7.2 6.3 7.8
£10-30m 8.0 10.0 9.2 11.5 10.0 12.5
£30-45m 10.0 12.5 11.5 14.4 12.5 15.6
£45-80m 15.0 18.8 17.3 21.6 18.8 23.4
£80-200m 20.0 25.0 23.0 28.8 25.0 31.3
> £200m 30.0 37.5 34.5 43.1 37.5 46.9
Annualised Charges Bronze Service Level
BA Member UK Cycling Turnover Tier 2 Year Contract £k 1 Year Contract £k
< £5m 2.0 2.5
£5-10m 5.0 6.3
£10-30m 8.0 10.0
£30-45m 10.0 12.5
£45-80m 15.0 18.8
£80-200m 20.0 25.0
> £200m 30.0 37.5
Annualised Charges Silver Service Level
BA Member UK Cycling Turnover Tier 2 Year Contract £k 1 Year Contract £k
< £5m 2.3 2.9
£5-10m 5.8 7.2
£10-30m 9.2 11.5
£30-45m 11.5 14.4
£45-80m 17.3 21.6
£80-200m 23.0 28.8
> £200m 34.5 43.1
Annualised Charges Gold Service Level
BA Member UK Cycling Turnover Tier 2 Year Contract £k 1 Year Contract £k
< £5m 2.5 3.1
£5-10m 6.3 7.8
£10-30m 10.0 12.5
£30-45m 12.5 15.6
£45-80m 18.8 23.4
£80-200m 25.0 31.3
> £200m 37.5 46.9
 
 

Both BA members and non-members can access a bespoke reporting service for one-off, more tailored requirements. Please click here for more information.

 
Non-UK based businesses:
If you sell through a UK distributor, have a local subsidiary with employees or sell direct to UK retailers, we will use your UK cycling turnover through that distributor(s)/subsidiary/retailer as the basis of your charge. You have to provide the evidence to substantiate the turnover. Only the local distributor, subsidiary or retailer needs to be a BA member if you want to access the Bronze service for 1 year. If you want a 2 year contract or to be able to access silver or gold level, then you need to join the BA as a member.
- if you don't currently have UK sales then you can either access the bespoke service or bronze regular service based on your total worldwide turnover, converted to £s. You may only access a 1 year contract without being a BA member or 2 years if you become a member.
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Launch plans & timings

Please see below for approximate timings of launch to go live

 

Jan 19

Recruitment launch of retail data contributors and report buyers

Web page go live for information & sign up

Brands & Distributors to talk to Independent Bike Shops

Jan-Mar 19

Build database and test dashboard

Major recruitment drive & PR Campaign

Main on-boarding phase of data contributors

Upload 12 months of back data to January 2017

Start retail data cleaning and matching to brands’ lists

Build user dashboard interface

Issue logins & passwords

Test dashboard with early adopters

Jun 19

Go Live

First month of full service with April reports issued during June 2019

First quarterly user group, 3 months after launch

Meet some of our supporters

Click below to hear what some of our supporters are saying about the service.

Nigel Roberts
UK General Manager, Trek Bicycle Corporation Ltd

Jerry Lawson
Chief Frog, Frog Bikes

Heather Baker
Director, Saddles & Paddles (Independent Bike Shop in Exeter)

Paul Kenchington
Director, The Bicycle Chain (Owner of five IBDs in the South West)

Exclusive deals on compatible till systems

Our aim is to work with all the EPOS till providers that our bike shop members use in order to enable the transfer of data and to develop the service in the future. If you are looking to change till provider, we are delighted to offer the following BA exclusive deals from our three EPOS till partners, as follows:

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Abacus is a well proven and popular cycle trade specific EPOS system backed by over 35 years of development. It includes data feeds from the major brands and offers a fully integrated e-commerce website, workshop and marketing software to improve stock turn and cashflow and help maximise profits.

Abacas is offering Bicycle Association partners the complete Abacus EPOS software suite, installation and training for half price, plus a 10% discount on all hardware.

Learn more at www.abacusonline.net

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Ascend is a cycle specific retail management system designed specifically by Trek. Our 40 years in retail & manufacturing combined with Ascend only supporting bike shops gives us the advantage of understanding our industry better than any other system provider and with new releases every 3 months as a part of your subscription we can react fast to changes in our industry.

As part of our shared commitment to the Bicycle Association all members receive a third off their Licence Fee and three months free subscription. At Ascend we like to be as clear and transparent as possible so unless you’d like to buy some new computers you’ll find NO other hidden charges.

Learn more at www.ascendrms.com

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With over 20 years’ experience in the retail game, Citrus-Lime is an established provider of top quality retail software, with proven success for independent bike dealers like you.

Cloud POS is the only end-to-end solution currently available in the Cycle Industry. We integrate to your major suppliers, we take data and can feed it back to them. We have a Workshop Module, Reward Scheme, amazing Reports engine proven to increase Achieved Margin, and with a fully integrated E-commerce platform with digital marketing services included, it means we can take your product information from the supplier all the way to your customers by any means at all.

We are working with the Bicycle Association and have a fantastic offer for their customers, why not contact us to get a quote today. Give Grant, Marc or any of our Sales Team a call on 01229 588628, email hello@citruslime.com or visit www.citruslime.com

 

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About the Bicycle AssocIation

“Working together as an industry to grow cycling for a cleaner, healthier Britain”