HELP IMPROVE
BOATING
While reading Fortune magazine, I spied a story about Wolfgang Puck, followed by one on four emerging trends for 2014. After reading the two articles, I was ready to yell out “Yes, this is what boating’s got to do to get better.” I now knew what it took to improve boating for 2014 and beyond.
The lessons
MIASF and RCC recently completed phase one of its work,
Wolfgang Puck made popular the concept of open restaurant
into engagement, and engagement into ownership. They
kitchens and introduced fine dinning to the masses via TV. The lesson here is that in Puck changed the way the public views restaurants and that’s precisely what boating must do.
which was to develop a framework for translating participation surveyed existing boaters to explore the different pathways of entry to boating that are most likely to result in long-term participation and eventual ownership, and determine the main
From the four emerging trends for 2014 came the suggestion:
obstacles to increasing boat ownership.
Join the sharing economy. It described the benefits of renting
Here are some of their major findings:
your homes through Airbnb and saving on auto costs via Zipcar. Boating should copy these models, finding ways to maximize
*Relative to other recreational pursuits, boating compares quite
their assets.
favorably in terms of the percentage of the U.S. population
Today’s boating industry faces numerous challenges: declining
indicating they are boating participants.
numbers; failure to reach young people and emerging minorities;
*In reviewing the U.S. population’s growth rate and the growth
affordability; and developing sustainable business models.
rate of boat ownership, increases in population and participation
Although these challenges are daunting, they are hardly insurmountable. A review of current boating industry programs shows that recreational boating is up to the challenges. They are attending to all these problems, not necessarily all together,
do not positively correlate with gains in ownership, and “if ownership is the most meaningful metric for tracking industry success, then the disconnect is not consistent with achieving long-term growth.”
but enough so that they form a solid basis for current and future
*The potential market for boating varies by the criteria of
growth and development.
interest. Intensive research showed that only 3.2 percent of the adult population, or around 10 million individuals, were likely to be registered boat owners. Building this final number will
Here’s how to improve boating.
involve extremely targeted marketing efforts informed by primary
Growth models
In formulating growth strategies, MIASF and RCC concluded that
The prerequisite of any efforts to improve boating is great products, and a glimpse at the new boats featured in this issue and those in past issues shows that industry is delivering gorgeous boats. The next step is to formulate “Growth Models.” A leader in this area is the Marine Industries Association of South Florida (MIASF), which hired RRC Associates, a research
research, RCC concluded.
one of the most important strategies is leveraging the influence of existing boaters who are knowledgeable and passionate about boating. Encourage these boating advocates to share their views with many more people. “Leveraging their influence has great potential for growing boating participation among adult participants,” RCC concluded.
firm specializing in recreation and travel, to help it quantify the
RCC noted that if the industry does nothing to increase boating
industry’s potential over the next 10 to 15 years.
participation, the number of boats in the U.S. could decline by
18 GLB | Jan/Feb 14