What New Ipsos Research Reveals About the Next Generation of Boaters |
New consumer research from Ipsos, commissioned by the Market Expansion Advisory Group, provides the latest look at how today’s consumers are discovering, and engaging with boating and what it will take to grow participation in the years ahead. Insights from the research include: Today’s Buyers are Younger, More Diverse and Digitally Driven Recent boat buyers (those who purchased their main boat after 2020) differ significantly from established owners who bought before 2020. They are younger (average age ~36 vs. 45) more diverse and more affluent. They are also more likely to have entered the boating category via experiences (i.e., charters, rentals) and adjacent outdoor activities. In fact, engagement with charters and rentals among surveyed buyers rose from 17% to in 2020 to 27% in 2024. The path to ownership is also quite different. Among those surveyed, it is digital-first and self-directed with heavy use of YouTube/short-form video, online reviews, social media, and manufacturer and dealer sites. At the same time, trust still hinges on people: the dealer remains pivotal for credibility, transparent pricing, and relationship-building, even as more recent buyers also transact peer-to-peer. There’s Significant Opportunity: 35 Million Prospective Owners The research estimates there are approximately 35 million high-potential new buyers^ in the U.S. (surveyed consumers who say they are at least 50% likely to purchase a boat in the future). The opportunity is significant, but these consumers have very unique motivations and barriers.
The takeaway: one-size-fits-all marketing won’t drive growth. Each group requires tailored messaging, experiences and entry points into boating. Cost and Complexity Are Key Barriers Cost remains the biggest hurdle for prospective buyers. Their mean income of about $72,500 trails current owners’ mean income significantly. Greater price transparency, financing options and clear ownership pathways can help reduce these barriers. Lack of knowledge and logistical concerns are the second biggest challenge. Education, onboarding and ongoing support are essential to building familiarity and confidence. Click here to view the Ipsos research and watch the recently recorded industry webinar.
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