A study on the investment in the boat
The Boat Trader marketplace commissioned a survey of customers of the For Sale By Owner platform, FSBO, one of the leading yacht sales sites in the United States. Conducted during the month of February 2023, the survey covered 2,900 sellers, over 18 years of age, registered on FSBO, and delivered instructive figures on the age groups involved and their willingness to sail and invest in their boats.
2 out of 5 millennials who purchased their boat during the Covid19 pandemic, or 40%, say they plan to upgrade to a larger boat. Across all age groups, this figure rises to 49%. Of those surveyed who have owned a boat in the past and are interested in buying a new one, 68% are millennials, reflecting their love of boating.
Access to financing does not seem to be a major obstacle in the United States. In fact, 73% of buyers plan to buy with cash and 64% of Generation Y intend to do so.
An encouraging finding for the US yachting industry
Courtney Chalmers, vice president of marketing for Boats Group, the parent company of Boat Trader, said the results of the study are a reassuring signal to the industry: "It's exciting to see the younger generations showing a strong interest in the boating lifestyle. The growth and success of the boating industry depends on its ability to attract new and younger customers. With millennials representing such a large portion of the population, their interest in boating presents a significant opportunity for the industry. The baby boomer generation has been a key group for the boating industry. For all that, it is also important for us to capture the interest and retain younger buyers to provide a stable foundation for our industry."
