BikeBiz Bicycle and cycling retail news
Chain Reaction Cycles has reached 14th place in The Sunday Times International Track 100 list, published yesterday.
The online cycle retailer was praised for its strong web presence and commitment to deliver non-UK orders within a few days – enabling it to grow its international sales 143.2 per cent a year, from £8.2 million in 2007 to £48.6 million in 2009.
In addition, that £48.6 million was enough to see Chain Reaction Cycles come sixth in the ‘Top Ten Companies with the Biggest Exports’. Bet865 came top with £266 million international sales.
Chris Watson, CRC MD said: “This is an overwhelming achievement for the company, and I’m very proud of everyone who has helped us get to this point. We strive to be the best in the business and this ranking is testament to that. Our aim is to continually push ourselves further and we still have big plans for the company, including lots of new website enhancements and ultimately a better shopping experience for our customers.”
The Sunday Times said of the firm: “Sometimes it is enough to provide a simple service well and use the internet to build a global customer base. Chain Reaction Cycles, which stocks thousands of bikes and accessories in its warehouse near Belfast, is an example of this. It generates 63 per cent of its sales outside the UK, compared with an average of 47 per cent across the International Track 100.”
The paper added that external factors have benefited businesses like CRC in driving sales overseas – including the weakness of sterling (which fell against US$2.11 in November 2007 to US$1.36 in Jan 2009).
The Times added: “Declining business in Britain has prompted many to ramp up their international efforts.”
CRC has recently released a ‘story of your purchase’ video, following a product’s journey from order to despatch, taking the viewer behind the walls of its 100,000 sq ft warehouse, which houses 90,000 products that are shipped to over 115 countries.
Video: Chain Reaction Cycles – how do they do it? from chainreactioncycles on Vimeo.
