BikeBiz Bicycle and cycling retail news
Madison is to open up a partner store programme, after trialling the initiative for the last two years.
“After seeing success across the board, overcoming some of the challenges and refining the programme, Madison is now ready to expand,” said a statement released by the brand today. More than 100 retailers participated in the trial phase, with an average sales growth of ten to 15 per cent 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.
The initiative offers various benefits 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 per cnt increase in footwear, apparel and helmets by offering clear and well-stocked ranges.
Madison was quick to point out that 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.
CEO at Madison Dominic Langan commented on the announcement: “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.”
Interested retailers are encouraged to attend the distributor’s in-house trade show, iceBike*, which takes place in Milton Keynes on 20th until 22nd February. Dealers can register now at www.icebike.co.uk.
