In an exciting move for the bicycle industry in the UK and Ireland, Madison is now ready to open up its Professional Retailer Partner Programme to specialist retailers.
The UK and Ireland’s leading bicycle parts and accessories distributor has been trialling the programme for the last two years. After seeing enormous success across the board, overcoming some of the challenges and refining the programme, Madison is now ready to expand. More than 100 retailers participated in the trial phase, enjoying an average sales growth of 10-15% across their entire business in 2017. In a tough retail climate, the programme has proven to support and make a difference for independent bicycle retailers.
There are many benefits in joining the initiative such as assistance with merchandising, in-store messaging and seasonally appropriate Madison supported promotions. ‘Partner Stores’ in the last two years have seen an average of 50% increase in footwear, apparel and helmets by offering clear, well-stocked and exciting ranges. The programme really helps retailers to be focussed with excellent products and a ranging strategy which makes sense to consumers.
The programme is nothing to do with preferential pricing but a consignment stock programme allowing retailers to take the stock they need and pay for it when it is sold, eliminating the element of risk. This allows the retailer to implement a well-curated ranging strategy, which improves the in-store customer experience. Additionally, a good visually merchandised and ranged store gives credibility without affecting cash flow and it also makes it easier to close sales, therefore avoiding losing customers to the internet.
Dominic Langan, CEO at Madison, said:
“This is a significant investment for Madison. We understand the challenges of running a bike store and the fact that cash restraints often dictate the ranging as credit is maximised over multiple supplies. This often results in poor brand representation in-store and in turn a poor customer experience, which drives them to look to the internet to find what they want. Over the past two years we have worked tirelessly with a diverse range of retailers throughout the UK and Ireland and the results have been fantastic. The Professional Retailer Programme is a partnership which has been a huge success for those involved and after gradually improving our own processes, we are confident that we are ready to invite more dealers to apply to be a part of it.”
2018 will also see the introduction of an industry-first website joining all members of the Partnership programme together along with all specialist bike retailers who buy from Madison and Sportline. This website will bring together the convenience of the internet and the expertise of the local bike store and provide the consumer with the best of both worlds. This is a huge investment in technology from Madison, designed to support IBDs and drive consumers to their stores. More information will be released in the New Year, with plenty more to find out at iceBike*.
Come and see us at iceBike* 2018 in February, where we have a specially set up business area where any interested retailers are invited to attend and speak to us directly about how to be a part of this innovative and exciting initiative.
Any retailers interested in finding out more about the programme or applying should email firstname.lastname@example.org.