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Discover Boating and Insights Into Industry Trends - Freya Olsen

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Freya Olsen

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Discover Boating and Insights Into Industry Trends - Freya Olsen

  1. 1. Freya Olsen Senior Program Manager, Discover Boating Discover Boating & Industry Update
  2. 2. Recreational Boating Industry 95% of boats sold in the U.S. are made in the U.S. 97% of U.S boat manufacturers are family owned and operated small businesses
  3. 3. Traditional Powerboat Retail Sales source: Info-link
  4. 4. Sailboat Retail Sales -4.9 -3.9 0.0 -10.1 -8.2 -31.7 -35.7 -20.4 7.0 28.3 -5.1 33.9 -25.3 16.1 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 YOYChange Source: NMMA 2016 U.S. Abstract
  5. 5. Growth Through March, 2017 source: Info-link 1.0% 7.9% 7.6% 9.4% 2.3% 9.1% 1.7% 9.6% RetailUnits12MYOYChange High Unit Volume Low Unit Volume
  6. 6. INDUSTRY HEADWINDS
  7. 7. 9,438 9,844 9,672 9,151 8,588 8,440 8,191 0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 5,000 5,500 6,000 6,500 7,000 7,500 8,000 8,500 9,000 9,500 10,000 1995 2000 2005 2010 2015 2020 proj 2025 proj Households(000) BoatOwners(000) U.S. Recreational Boat Owners (Excluding paddle craft) Boat Owner Households U.S. Households
  8. 8. 0% 2% 4% 6% 8% 10% 12% 14% 16% <25 25-29 30-34 35-39 40-44 45-49 50-54 55-59 60-64 65-69 70-74 75+ PercentageofAllBuyers Age Range Boat Owner Age Distribution - 1997 AGING DEMOGRAPHICS The primary factor influencing the future growth of boating is that our most loyal, core market is aging Average Age 47 Mostly Males Source: Info-Link
  9. 9. NEED TO FILL THE PIPELINE The average age of a boat owner is 55 and every year is increasing in age by six months. 0% 2% 4% 6% 8% 10% 12% 14% 16% <25 25-29 30-34 35-39 40-44 45-49 50-54 55-59 60-64 65-69 70-74 75+ PercentageofAllBuyers Age Range Boat Owner Age Distribution - 2015 Average Age 55 Mostly Males
  10. 10. The reason for the decline is simple: We have not been replacing boaters as quickly as we lose them Between 2005 and 2010 Between 2010 and 2015 Net loss of 520,000 boat owners Net loss of 564,000 boat owners 2.4M First-time boat owners entered 2.9M exited 2.0M First-time boat owners entered 2.6M exited
  11. 11. First-Time Boat Buyers FIRST-TIME Boat Buyers in 2005 (564,000) 54% 32% 14% T O D A Y Still own same boat
  12. 12. Repeat Buyers REPEAT Boat Buyers in 2005 (838,000) 38% 35% 27% T O D A Y Still own same boat * And gets better with each subsequent boat purchase
  13. 13. Tomorrow’s boat owners Findings from landmark research on first-time boat buyers
  14. 14. We surveyed 2,000 people interested in buying their first boat. We followed 75 people for two weeks. We analyzed existing data. We surveyed 250 lapsed shoppers. We visited 4 markets, interviewing 20 people. We surveyed 550 people who recently bought their first boat.
  15. 15. How they buy.Who they are.
  16. 16. Merry Mates (16%)Gear Guys (17%) Luxurious Leisurers (18%) Water Weekenders (23%) Seclusion Seekers (12%) Nautical Natives (14%)
  17. 17. Life experiences form an affinity for boating. DEVELOP A spark ignites the desire for boat ownership. They start to imagine their life on the water. They navigate the realities of buying and owning. They experience the joy of ownership. DESIRE DREAM DECIDE DO On average, this takes about year or less.
  18. 18. How did the process of buying a boat make you feel?
  19. 19. KEY FINDINGS • The boating industry is at a crossroads  Every year, fewer people enter boating for the first time.  Today, first-time boat buyers represent 33% of all boats sold – down from 42% in 2000. • Would-be first-time buyers are turned off by the dealer experience  66% of people who stopped shopping for their first boat said they did not have a “helpful” experience at the dealership. • The way people shop has changed, and traditional leads will soon be harder to come by  In our study, two thirds of first-time boat buyers said they’d give out personal information only at the point of purchase. • We need to rethink affordability messaging: from the cost of the boat to the unexpected costs of purchasing one.  First-time buyers are prepared to take on the investment., but it’s the “unexpected” costs that derail their purchase.  Registration fees to maintenance costs - they often don’t learn about these expenses until the last minute.  42% of people who stopped shopping for their first boat said unexpected costs were their primary barrier to purchase.
  20. 20. 2017 Integrated Marketing Campaign
  21. 21. Discover Boating Objectives • Increase Participation • Help ease consumers down the purchase path • Stakeholder education
  22. 22. We live in a world where everything is available in an instant.
  23. 23. Where experiences are becoming much more important to people.
  24. 24. Where people still hold vacations in high regard and look forward to the day the vacation starts.
  25. 25. A vacation should be a priority. A time to focus on what’s important: Family, friends and relaxation. What if you could take a vacation when you wanted? What if “how” and “where” were simply replaced by “when”? Own a boat and you can go on vacation when you want. On your own terms. Every week, every weekend or even every single day. It’s up to you. It’s your vacation. It’s your vacation on demand.
  26. 26. Owning a boat lets you take a Vacation On Demand. 27
  27. 27. We’ll be offering media and social influencers the chance to take their very own Vacation on Demand. Provided by one of these partners:
  28. 28. In exchange, we’ll be asking for earned coverage and shared content that inspires people to get out on the water this summer.
  29. 29. 30 VACATION ON DEMAND
  30. 30. 31
  31. 31. All of these will send people to our Go Boating Today page. 32 Driving traffic to: • Go Boating Today • Boat Selector Tool
  32. 32. Boat Selector Tool
  33. 33. Boat Selector Tool
  34. 34. Discover Boating provides educational needs for the first-time boat buyer that were identified by the research. • Total cost of ownership • Shopping checklists • Cost comparisons tools and boat loan calculators 73
  35. 35. Relevant Results YTD • Web traffic from mobile phones have finally passed desktop. • 46% from mobile • 43% from desktops • 11% from tablets • The 25-34 age group represents the largest % of traffic and fastest growing segment on DiscoverBoating.com • The 65+ age group is up 28% YTD and represents over 8.4% of traffic. First time boat owners can be any age. • One boat dealership which has embedded the Discover Boating Boat Loan Calculator has had nearly 5000 uses in the past six months.
  36. 36. Tools for Industry Stakeholders • Visit: GrowBoating.org/ToolsYouCanUse - Promotional Materials: Beginner’s Guide to Boating, educational flyers, bumper stickers, posters - Web Content: Videos to download, embed and stream - Interactive Tools: Boat Selector, Cost Comparison, Boat Loan Calculator - PR University - Image Gallery
  37. 37. Research and Education Research  First-Time Boat Buyer Research • Why consumers dropped out of First-Time Boat Buying purchase process • First-Time Boat Owner Attrition Education  Grow Boating Marketing Summits • Understanding the Value of Web Referrals • Creating Best Practices for Inbound, Nurture and Content Marketing • Application of First-Time Boat Buyer Research to Dealer Sales Training
  38. 38. Visit GrowBoating.org in the Research & Education section for more information in the coming weeks!
  39. 39. Thank you!

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