The past few months have been very challenging for the marine industry, but the pandemic has apparently had one positive effect: the average age of boat buyers has dropped.
For many years, the average age of someone purchasing a boat has been consistently increasing. Until now, according to Info-Link Technologies, a Florida based market intelligence company focusing on the marine industry.
“As we have heard many times over the years, our customer base is ageing, but this year is different,” says Info-Link managing director, Jack Ellis. “As the demand for boats continues to soar, especially among first-time buyers, we are seeing another encouraging trend. This year’s boat buyers are considerably younger than past years’ buyers. Through mid-2020, the average age of new powerboat buyers decreased by almost two years compared to the same period last year. In fact, for the first time in a decade, the number of new boat buyers under 40 surpassed the number of buyers over 60.
“Our speculation is that this is being driven in large part by buyers who still have children in the home and are seeking a means of escape to spend time with their families in a more controlled and enjoyable environment.”
This is great news for the boating industry and the trend is said to be occurring in almost every segment of the industry, with only the average age of new yacht buyers remaining unchanged.
“This is of course exactly what we have to sell,” continues Ellis. “Our job now is to keep them coming back for more because, with all due respect to our cherished customers over 60, these younger buyers are our future.”