Going online for immediate profit at the expense of the LBS is the short-sighted view.

Let's say all of the bike makers start selling online. Enthusiasts buy all of their bikes, gear, and shwag online. Trek, et al start see record sales. LBSs all over the nation fail because of their inability to compete except in some of the largest cities.

Ten years later, sales drop off dramatically. There are no new enthusiasts because there is not local bike shop for newcomers to get help at. Some people might watch an old TdF video and get pumped, buy something online and give up in disgust because the bike doesn't fit right or it's the wrong bike for the activity.

Music (and video): people know what they like, and "try before you buy" is very easy with all of the online radio stations and streaming audio providers. There's zero need for me to step into Fry's or Blockbuster to hear or watch a sample of a new album or video. The music and movie industry's failure to recognize this has only recently started turning around. Buying, downloading, and burning a CD is easy. You can't download a bike via the Internet and get expert help with it.

RFM