At the same time, other shops flourish. The days of a general LBS that sells a range of bikes from kids to BMX to mountsin bikes, etc., plus repair of it all is mostly over.

My two favorite LBS are doing extremely well and didn't start all that long ago. One does is likes mostly in high end and tri stuff. They have several mechanics and can fix most anything while you wait. They stock everything in the mid to high end range and that includes frames and complete bikes in almost all sizes. The other specialized in fittings and custom bikes. Their shop physically doubled in size the last few years and opened another location as well.