For a long time I was a student (yes, I did a PhD). I didn't have the cash for local bike shops.
Buying and supporting local is a luxury for the rich. I could not afford the $600 bikes they were selling. I bought $150 used bikes on Craigslist and repaired them myself. And no, not with parts from the bike shop. I could get the same parts at half price online, including from Amazon. Usually I could tune up a $150 bike for another $25 in parts and that's a lot cheaper than $600.
If local bike shops want my business, and pretty much the business of students in general, they need to get with the beat and be cheaper than Amazon.
Oh btw -- last week I changed my bike pedals for one that I got on Amazon for $20. I have never seen a bike shop sell such good pedals at this price point. I have never even seen a bike shop sell this brand ("ROCKBROS"). They usually sell some super expensive brand like Shimano only. They also seem to have politics against selling competing brands sometimes, and Amazon has none of that bullcrap, you see all the brands and you buy the best.