A bicycle is not a product. It is a product plus a fitting plus a service relationship.
Buy one online and you learn this immediately. A large box arrives. Inside is a bicycle partly assembled, with handlebars loose, brakes unadjusted and gears untuned.
You are now responsible for finishing the manufacturing, and the consequences of doing it badly are brakes that do not work properly.
Then six months later something needs adjusting, and there is nobody to adjust it.
That gap is why a regional chain in Minnesota has continued operating while national sporting goods retailers struggled and online bike sellers came and went.
The bicycles it sells are available elsewhere. The rest of it is not.