The Recreational Boating and Fishing Federation (RBFF) has recently released a new report that attempts to understand consumer attitudes when it comes to boating purchases. The RBFF’s “Quantitative Study of Consumer Attitudes” reports that while the boating lifestyle is still robust in these economic times, buyer habits have shifted.
According to RBFF President and CEO, Frank Peterson, “people are going to continue to buy boats, but more cautiously without applying for as much financing.”
Here are the key findings of the report:
1. Almost half of all boating consumers state that they are in the market for a boat in the next three years despite the economy.
2. Boating consumers are still likely to spend money on their boats, however, they are more likely to try to find ways to make boating less costly. For examples, boat owners will do their own repairs or purchase fewer accessories overall.
3. 30% of boating consumers in the market for a new boat will consider a pre-owned boat.
4. 66% of current boat owners are satisfied with their current boat.
5. The main reason current boat owners are not in the market for a new or used boat is that they are happy with their current boat.
6. The intent to purchase a new boat is strongly correlated to having friends and family who go boating on a regular basis, having a fishing licence and participating in outdoor activities such as camping or hiking.
The study was conducted by RBFF and BrandSpark International in June 2010 and released in September 2010 and the full report can be viewed here.
The report reflects what we have seen over the last few years. Boat owners are still going to enjoying boating activities but they’ll be much smarter in terms of how they will spend their hard earned money. If a new boat is not a practical choice, it makes sense to spend money more effectively. Instead of wasting money on substandard accessories, it makes sense to spend on something of a higher quality, for example, propellers from Eris Propellers, which will perform much better than something of a lesser quality. After all, Eris Propellers has been a leading propeller and equipments manufacturer for over 35 years and understands the relationship between value and quality.