Insights and action items
The NMMA through Grow Boating has released a full study on the First-Time Boat Buyer (FTBB), yielding insights and action items for boat manufacturers, dealers and the industry. For the record an FTBB could be interested in purchasing a new or used boat.
The introduction points out that the primary driver of current growth is people who are in the market to buy their second, third or even fourth boat. But repeat buyers were once first-time boat buyers, and today there are fewer and fewer of them. In the year 2000, FTBB represented 42% of all boat buyers. In 2015, they represented only 33% of all boat buyers which equates to an overall decline of 37%.
The study goes on to describe in detail the six different kinds of boat buyers. It highlights the fact that participation is the single greatest trigger of the FTBB desire to own. Nearly all can point to a specific trip when they decided they wanted to own.
One compelling point in the study affects boat dealers. It states the way people shop has changed. Traditional leads will soon be extinct. In the study two-thirds of FTBB said they’d only give out personal information at the point of purchase.
The study is a must read for those interested in the US market. Its conclusion sums it up when it states “Today, we’re better positioned than ever to help FTBB. Together, we have the power to make this process easier. After all, we’re the experts: we have the knowledge and know-how to help these people make their dream come true.”
A press release announcing the study complete with links is available at http://www.nmma.org/press/article/21219