[rhombocombus]

As a 17 year veteran of Independent bicycle dealers, this hits it right on the head. The most successful shop I ever worked at focused their inventory on parts and offered 24 hour turnaround provided the bike didn't require special ordered parts. Service is the only thing that can't be replaced by the internet.

[sizzzzlerz]

And service is what distinguishes bike shops from each other. In reality, bikes are commodity items, things you can buy anywhere and are sensitive to price. The same for computers, appliances, and most electronics. Service, however, is unique to that store and people remember good service (and bad). When I get good service at any type of store, I feel good about the experience and am more than likely to spend my money with them again. And a key point, I am willing to pay more to get it.

[hodgesrm]

Also, on things the average citizen can't/won't easily order online. Spokes are a trivial example but there are also lots of add-on components.

[liveoneggs]

except when you can throw away your $150 bike and replace it for the cost of its repair ;)