Spring is here and, as you might imagine, statements about the market picking up are on the rise. The reality is that the economic indicators are still giving mixed signals. The following numbers make dry reading but tell the story.
Light automobile sales in February 2012 are up 14.1% from February 2011. The Consumer confidence index stood at 70.8 (1985 = 100) in February 2012 down from the three year high of 72 in February 2011. To put this into context the index stood at 110 in January 2007.
The housing market is still not doing well. Sales of existing homes in Feb 2012 were 4.59 million which are down from 5.36 million in January last year. The bad news about these numbers is that, according to the Associated Press “Bank-owned homes and short sales last year accounted for the smallest slice of overall sales in three years but still made up nearly a quarter of all U.S. homes sold in 2011.” A short sale is when the proceeds from selling the property are less than the debt owed on it.
The one piece of good news is likely to be bad for our industry. American’s are saving more. Their personal savings as a percentage of disposable personal income stood at 4.6 in January of this year. In July 2005, which was the year when the total recreational boats in use in the U.S. peaked at over 17.5 million, the personal savings rate was 1.1.
Some sales will be made so there has never been a better time to focus on the one fundamental that will positively impact your sales. Identify and clearly communicate the points of differentiation between yours and your competitors products.
Posted by: James