The Ft. Lauderdale Show that has just ended was watched by many in our industry to see what it might portend for the future. It could be argued that it was/is indicative of the “new reality”.
One succinct explanation of the “new reality” for the trade is given by Bill Thompson, a veteran of the marine finance industry and President, Cardinal Points Network who described it in the following manner “The Ft Lauderdale Show reflected an industry where fewer dealers and manufacturers exist, boat production is dictated by orders more than stocking, and those that survive do so by being nimble and having cash.”
While the drop in the number of exhibitors was noticeable, especially in the Convention Centre, the show organizers said “Compared to last year, attendance was up 10%+ through Friday. We had a small dip in ‘family’ attendance on Saturday and Sunday with Monday about even. Overall, attendance was up 1%. This is very good news as we were budgeting down 8% in attendance. The Thursday and Friday strong showing indicates serious buyers attended the show.”
The statement about the strong showing Thursday and Friday is also indicative of the “new reality.” These are the days that committed and experienced boaters attend shows. They know what they want and what they can afford. Everglades, a builder of luxury family fishing boats from 21ft retailing at around U$75,000 to 35ft retailing for U$400,000, knows exactly what that means. They sold 14 boats across the range at the show, one more than last year, and only one of the 14 was to a buyer that they had been speaking to before the show.
While there will still be newcomers to boating our industry, for the foreseeable future, will be building fewer boats for knowledgeable owners. Therein lies the other aspect of the “new reality” – brand awareness and brand loyalty.
Posted by: James
Categories:
Marine Industry