Millennials back in focus

For the past several months the spending habits and potential of Millennials had ceased to be a significant topic. They are now back into focus again with a perspective that our industry should take to heart. This new aspect is Millennials lack of some necessary but specific skills and accompanying technical knowledge.

A recent article from the Wall Street Journal summed it up. The headline reads ‘America’s Retailers Have a New Target Customer: The 26-Year-Old Millennial - This age bracket, bigger than any other, is pushing companies to revamp marketing and products, including a lot of remedial education’. The author, Ellen Byron, quotes well-known companies that ‘are hosting classes and online tutorials to teach such basic skills as how to mow the lawn, use a tape measure, mop a floor, hammer a nail and pick a paint color’.

This same sentiment is echoed in an article for BoatUS Magazine by the Millennial freelance writer, Fiona McGlynn, formerly a management consultant with Bain & Co. Fiona is now the joint publisher with her husband of the YoungandSalty.com website, a sailing community by and for young sailors. In the article entitled ‘Why Aren’t Millennials Buying Boats,’ she gives three primary reasons one of which is labeled ‘Getting Greasy and Sailing Anxiety’. She points out that: “Most 20-to 40-somethings didn't grow up with a torque wrench in one hand and a soldering gun in the other. While our parents' generation spent their teens rebuilding old cars, we spent our time building websites. The initial learning curve when getting into boat ownership can be overwhelming for anyone, but more so for a generation without foundational skills in mechanics and building.”

Our industry would do well to take note.

Latest Press Releases

See the US debut of Fairline’s Targa 43 OPEN at this year’s Fort Lauderdale International Boat Show

British luxury motor yacht manufacturer, Fairline Yachts, is hosting the US debut of its new Targa 4... Read more

Shakespeare Marine to Launch the World’s First Inflatable Emergency VHF Antenna at METSTRADE 2018

Shakespeare® Marine, world leader in marine antenna design, announces it is launching the, the world... Read more

Fairline Yachts to strengthen management team

Since its launch just over two years ago, Fairline Yachts has been winning awards for its new models... Read more

OverBoard launch new colourful limited-edition collection

Leaders in waterproof bags and cases, OverBoard, prove that functionality doesn’t have to be boring ... Read more

Fairline Yachts’ Targa 43 wins at World Yachts Trophies 2018

Luxury British motor yacht manufacturer, Fairline Yachts, was announced as the winner of a highly pr... Read more

View all