Boat dealers get insight at MDCE on changing demographics
Marine Dealer Conference & Expo
November 16, 2012
Filed under News
ORLANDO - 11/13/2012 – Shifting demographics in the United States are a challenge boat dealers need to ready themselves for now if they want to be successful in the coming years.
That’s according to demographer Stephen Murdock of Rice University, who spoke this week at the Marine Dealer Conference & Expo.The ethnic demographic shift in the U.S. that is going to occur over the next 30 years will not just change the average customer for a dealership, but will also change the average American, Murdock said.
Murdock brought data from research done on demographic, socioeconomic and education trends and shared how they relate to the future of the American economy and the future of the marine industry through the next four decades.
"Changes in demographics over the next several decades will change the fundamental economic structure underlying the United States," Murdock told the group of boat dealers.
The 2000s were the decade of the slowest growth in population, second only to the great depression era, according to Census Bureau data explained by Murdock at MDCE. Through the next 30 years, Murdock added, there will be a decline in the percentage of the Caucasian population. More than that, there will be a drop in the real numbers of the Caucasian population across the U.S.
"The future economic success and growth of America will be based on the success of our minority populations," Murdock said.
MDCE was held November 11-14 at Orlando’s Orange County Convention Center and is co-produced by the Marine Retailers Association of the Americas and Boating Industry. For more information, visit www.boatingindustry.com/mdce.