Bongoland Performance Analysis
.png "Bongoland Performance Analysis")
Completion Date:
Project Overview
Bongoland Bikes & Accessories is a global cycling supply retailing company headquartered in OH. This giant retail has combined annual sales of approximately $25 billion and employs about 38,000 associates globally. Bongoland store is your resource for quality bicycles, gear, and bike services, they are always ready to help everyone from beginners to advanced cyclists. The purpose of the project is to analyze revenues by providing analysis and perspective on the way business is trending and identifying changes in revenue that occurred in different sales territories under which the company operates. This analysis focuses on three KPIs - Revenue Per Month, Revenue Year over Year, and Company\\\\\\\'s Gross Profit Margin.
Role:
Problem Statement
Sales in the bicycle industry are very cyclical, varying with seasons and weather. The advantages of cycling are easily understood. It is fantastic exercise, in the outdoors, and often in great company.
As more people get to understand those benefits, the market for bikes and associated gear is growing, fast. Bongoland\\\\\\\'s objective was to increase revenues and thereby increase the profit margins.
However, there are times were revenues decline and thereby profit margin of the company is reduced. Bongoland Bikes & Parts is no different, they have had their gains and losses, thus, they have been experiencing a 16% and -5% fall in Revenue Year over Year (YoY) in the years 2019 and 2020 respectively compared to the previous year.
Executive Summary
Bongoland Bikes & Accessories is a global cycling supply retailing company headquartered in OH. This giant retail has combined annual sales of approximately $25 billion and employs about 38,000 associates globally. Bongoland store is your resource for quality bicycles, gear, and bike services, they are always ready to help everyone from beginners to advanced cyclists.
The purpose of the project is to analyze revenues by providing analysis and perspective on the way business is trending and identifying changes in revenue that occurred in different sales territories under which the company operates.
This analysis focuses on three KPIs - Revenue Per Month, Revenue Year over Year, and Company\\\\\\\'s Gross Profit Margin.
Data Dictionary
Key Takeaways
Next Steps
As consumers research more and more about their purchases, getting the bike just right has become more of a motivation. For some bike riders, choosing the right bike has become an expense worth investing in to guarantee a great bike that inspires confidence.
According to CNN Business, 35% of consumers are past the point of buying extra parts and hoping that they adjust properly. Bongoland has been unable to translate such a thriving demand into meaningful business opportunities. Therefore, I have outlined my suggestions and recommendations below to help Bongoland meet its financial goal.
Customer comes first
Before Bongoland can take drastic measures to advertise its bike business, they need to put customers first. Identify who their loyal customers are and what they need. If customers prefer quality over quantity, Bongoland need to offer products that will satisfy customer\\\\\\\'s wishes
Discounts/Giveaways
Keep in mind that each customer is different, so Bongoland will have to be flexible. Offering discounts or giveaways is a good way to start. For example, Bongoland can make a special discount for elementary students or a certain age or gender group
Bike Makeover
Along with bicycle maintenance, Bongoland can offer a bike makeover at a reasonable price for customers’ old bikes. Remember, the customer comes first.
Social Media
Another way to find out what your customer wants is by using the power of social media. By posting important announcements and photos, Bongoland\\\\\\\'s page will attract the customer\\\\\\\'s attention.
