No idea, although I have five LBS (that I can remeber of the top of my head) near me I have not been to any of them since way beck when.
Apart from popping in to Freetown Sports, as I was in town anyway, to look at some shoes and try them on, now I found what was nice but all the prices went up by the time I had the money so I've still not bought any :x
They (freetown) have changed since I used to shop with them, not only larger premises but they ahve loads of built bikes and the shiney components seem to be more hidden away while also made to be flashy looking if they are on show, rather than out there so you can touch and look at them properly.
As for the others well, they cannot beat the fact I can sit at home look at the prices, compare and look up details then get them delivered for cheaper than it cost to get the bus to them, let alone the prices are cheaper.
Shoes & clothing I would probably buy in store though as I like to try things on and see them. Bike components tend to fit the bike
Though I will say for the budget everyday bike person they are not loosing out to the internet, as thses general riders are not in to the sport/hobby so do not know what they are looking at. But they are loosing out to Halfords/Tesco style buying, but then only for the bike.
Still given the 5 bike shops are still gong strong and there are other lesser name one's I don't think they are loosing out the the everyday rider but are doing pretty well. Hence they stock the budget range, some mid and maybe the odd higher end, but are also prepered to help you fix it as well, something Tesco cannot do. (And halford so I've heard
)