Lack of minorities not a concern for many

Industry more worried about aging buyers, survey says

The white, baby boomer male has been a very good demographic for the boating industry as they bought millions of boats over the last few decades.

But younger buyers — and those of other ethnicities — have not embraced boating in the same way. That’s reflected in lower participation rates, lower sales and the simple eye test.

It’s an important enough issue that two of the six focus areas for the Recreational Boating Leadership Council are youth and diversity. Many industry leaders also identified it as one of the key challenges facing the industry in our 85th Anniversary issue earlier this year.

Among other efforts, the Recreational Boating & Fishing Foundation has launched a multi-year program to reach out to Hispanics to bring them into boating and fishing. (You can read more about that effort in our profile of Mover & Shaker Finalist Frank Peterson by clicking here.)

Generation X, millennials more important

For most in the industry, though, it appears the lack of Generation X and millennial boaters is a bigger issue than the low participation rates of minorities.

We surveyed readers of Boating Industry print and digital publications, including dealers, manufacturers, suppliers and others working in the industry in July and August to find out their attitudes and concerns regarding younger and minority customers.

Almost two-thirds of respondents said they were at least somewhat concerned by the rising age of the average boat buyer, while 32 percent were very concerned by it. At the same time, only 10 percent were very concerned about the minority participation rates, while 28 percent were at least somewhat concerned.

With those numbers, it’s not surprising that most in the industry are actively trying to attract younger buyers, as 76 percent of respondents said they were. Only 35 percent of Boating Industry readers are working to bring more non-white buyers into their businesses.

These priorities were also reflected in the responses given when readers were asked about the biggest challenges in bringing minorities and younger buyers into the market. Many responded that it wasn’t possible to bring more minorities into boating, citing what they said was a lack of interest and a lack of money to spend on boating.

On the other hand, respondents were much more concerned with educating Xers and Millennials about the fun of boating as a way to bring them into the pastime. Many also cited the need to integrate more technology into the product and the marketing.

Cutting across both groups was the affordability challenge, which many mentioned as the key challenge in bringing everybody into the market, whether they be white, Hispanic, black, Asian, young or old. Or as one Kansas-based supplier put it, “Cost of boating is the greatest issue. Boating is expensive for any race. Income disparity is the leading issue. … Young people regardless of race have little disposable income for boating. Housing, education and child rearing cost all take priority over boating.”

At this point, readers also reported getting little business from non-white buyers, with 41 percent saying they account for less than 5 percent of business. Only 9 percent said they get more than 20 percent of their business from minorities, although it’s worth noting that 14 percent of respondents were unsure of how big a part of their business minorities were.

That data could be used to support the two arguments about marketing to minorities that has come up at many conferences and meetings lately: “They don’t account for much business, so why market to them?” or “We need to market to them so they account for more business.”

Companies are doing much better at reaching younger buyers, as 62 percent said they account for more than 20 percent of business. Only 4 percent said they account for less than 5 percent of revenue.