Boating Businesses See Surge In Sales, Challenged To Keep Up With Demand
Demand for boats increase as consumers look for safe activities
As we head to the end of summer, we’ve had almost a full boating season to reflect on and what has defined this season. While the early portion of the season was mired in uncertainty, we quickly began to see some positive trends once boating got the green light to proceed. As consumers made changes to the way they traveled this summer, they found a silver lining – boats.
Not only did the amount of first-time boat buyers increase compared to 2019, but we also saw the average age of boat buyers decrease, suggesting that younger adults are being drawn to boating.
The end-result was that we ultimately saw boat businesses surge in sales. With this unexpected trend, manufacturing has seen some challenges in keeping up with this newfound demand.
Safe vacation option cited as key factor in surge
It doesn’t seem to be a pure coincidence that boat sales skyrocketed this season. With the RV industry experiencing a boom as well, the common factor is that RVs and boats both offer a safe form of travel, as physical distancing can be maintained, while satisfying the need to get away.
Some boat dealerships sold their entire inventory and have had to push back orders into 2021. One dealer told ABC30: “At the end of June, our year-to-date numbers were up 60% year-to-date. And really just out of boats now and we have nothing to sell.”
The added good news for the industry is that the trend is expected to continue into 2021, which may lead dealers to up their inventory for the expected demand.
How do dealers manage the service process?
With all of these boats sold to new clients, there will come the need to provide stellar boat service. Dealers will have to encourage customers to return to have their vessels serviced regularly and ensure they can enjoy a full 2021 boating season without interruption. Dealers can maximize their revenue from boats sold this year by accounting for every part that goes onto the boat.
Inventory management crucial
Managing inventory will become an even more important factor in ensuring boat businesses can thrive next year. DockMaster’s inventory management module provides all the necessary tools for efficient inventory tracking, including purchasing, integration to point of sale and integration with the service management (Work Order) features. Get in touch with your DockMaster account manager to learn more, or contact us here.
This positive was not expected at the start of the year, but now that the marine industry has reaped the benefits, it’s crucial to focus on what is next. It’s important for dealers to remain proactive and determine how they can maximize revenue gained with every new customer they receive.
DockMaster Software is an industry leading management system for marinas, boatyards, and boat dealerships. DockMaster includes Unit Sales, Prospecting and F&I with fully integrated financial management and numerous integrations with CRM applications, dealer websites and text/messaging services. The Service module includes estimating, labor tracking, and complete parts management with ordering/receiving, subcontractor fulfillment and invoicing. DockMaster Mobile allows technicians to clock on/off jobs from any mobile device. Visual Marina™ management includes storage & billing, occupancy tracking, reservations and dry stack management, including integrations to leading consumer applications for boat rentals, online reservations, concierge/launch scheduling and our new Fuel Integration with FuelCloud. DockMaster also includes Point of Sale, Order Entry with eCommerce and a complete accounting system. Learn more at www.DockMaster.com and follow DockMaster on Twitter, Instagram, Facebook, and LinkedIn. Or email email@example.com