I opened my mail this morning and actually read some good news. See today’s story about a study released by The Freedonia Group, a Cleveland-based industry research firm on Sounding Trade Only’s e-mail newsletter. The press release says U.S. demand for recreational products is expected to exceed $20 billion in 2011.
That got my attention.
The Freedonia Group, a Cleveland-based industry research firm, says strong growth in recreation and leisure expenditures will support demand, as will gains in disposable personal income.
What didn’t surprise me, though, was that the recreational boating market will benefit from strong population growth in the 55-64 age bracket. The gains, according this research group, will be supported by the efforts of manufacturers to increase interest in boating among women, minorities and other nontraditional boat buyers.
I can only hope that rings true. (As I mentioned in my blog, posted Aug. 31, manufacturers ought to target the untapped market. Ten others agreed.)
I also hope the manufacturers and dealers will iron out their differences so they can take full advantage of this projected demand. In today’s busy society, consumers don’t have the time or the patience to get caught in the cross-fire between two important stakeholders. It would be a sad day if the industry is not ready to capture a market that is projected to to spend some serious money on boats and related products.
Perhaps all the recent news about manufacturer and dealer certifications will pay off.
Soundings Trade Only