Every month, we analyse a specific retail sector and utilise our ASK BOSCO® Index to assess the performance of different retailers, both in the organic and paid online spaces. In May, we focused on evaluating the online cycling retail sector.
How did online cycling retailers perform in May 2023?
2023 has presented significant challenges for cycling retailers, especially those operating online. The industry, which experienced a remarkable surge in sales during the pandemic, is now grappling with a downturn in consumer demand and an overstock of bikes.
During the pandemic, cycling witnessed a surge in popularity as people sought new hobbies and alternatives for getting from A to B from anxiety over using public transport. As a result, the industry experienced an unprecedented boom in sales, particularly through online channels. However, as restrictions eased and life returned to a semblance of normalcy, the initial enthusiasm for cycling waned. This shift in consumer behaviour has resulted in a slowdown for online cycling retailers, who must now navigate the reduced demand for their products. Added to that is the cost of living crisis with the rising costs of essential goods and services putting a string on household budgets and leading to less discretionary spending. This financial squeeze has affected consumers’ ability to take up new hobbies, upgrade their existing bikes, or invest in new cycling accessories. Consequently, online retailers must deal with a diminished market as potential customers prioritise essential expenditures over cycling-related purchases.
Therefore, closely monitoring consumer trends and adapting online strategies has been crucial this year to maintain a competitive edge in the online cycling world.
Using our unique ASK BOSCO® Index, we ranked the online performance of ten leading cycling retailers.
What is the ASK BOSCO® Index?
Ever wondered how your brand stacks up against the competition in the online world? The ASK BOSCO® Index is the ultimate tool for measuring your digital presence and evaluating the effectiveness of your investments in organic and paid media channels.
Unlike other metrics that solely focus on your marketing budget, the ASK BOSCO® takes into account your potential in both paid and organic search. By analysing data from trusted third-party sources, it provides an accurate snapshot of how well you’re doing online based on your past digital interactions.
Now, you might be wondering, what’s considered a good ASK BOSCO® Index score? Well, it ranges from 0 to 1000, with the average score for brands and retailers being around 575. The higher your score, the better your online performance as a retailer. Think of it as the credit score of digital marketing.
Here’s how we scored the brands
We scored ten leading UK cycling retailers for the month of May. Here’s how the top five ranked on the ASK BOSCO® Index league table. Download the league table below to see the full results and see who the remaining 5 online cycling retailers are.
Download the full league table