Affects of New Power Boat Sales and Buyers

 

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 Affects of New Power Boats Sales and Buyers /  Changes are coming to boating

 After 2009 and the economic blow out, the Power Boat market has made a shift that I believe has changed our market forever. Boat buyers are buying boats that support lifestyle choices, not so much buyers who want to stick their toe in the boating pool and try it out. Boaters are more educated and know what they want. A great example of this was one of the Canadian Boat Shows last year numbers at the door were down but boat sales were up. Not as many tire kickers more persons who new what they wanted from their investment. As this shift to serious buyers takes place we will see the boats go through drastic changes to keep pace.

Power Boats will no longer be a miss match of components from many suppliers they will become systems where the boat is a Mercury or Volvo (for example) package from stem to stern. This will mean that all panels, switches, gauges and pumps will be all supplied by one vendor. Power Boats will become more of a platform construction, similar to cars. Over all design, colors and layouts will, and already are becoming standardized through the industry. As more value and concern is placed on the environment the amount of companies that will be able to make substantial investments in R& D and keep up with the required changes to standards will fall off.  Power Boats will be so similar that other factors other than the name on the side of the boat will become the motivation for purchase.

Boaters will be making purchases based on warranties, resale value, retail prices, and after purchase cost of ownership. New boats are a costly venture, so boaters will be buying boats that come with inclusive services, so that after the purchase of the boat there are fewer out of pocket costs as possible. Buyers will want all the bells and whistles included in the purchase price. Why do you think the dealers who sell boats now have a eye to the marinas. If they can include docks and slips in the deal up front then you buy the package selling the lifestyle and controlling the stresses and cost of boat ownership. A boaters time at the boat is valuable they do not want to have to source service, marinas and after market items to meet their needs. One boat, One deal its not the price its the convenience.

If you are buying or own an older boat you need to consider how new boat sales and the structure of these deals are going to affect you, because they will. Marinas are closing their yards to outside technicians and providing in house services for their clients and these agreements are  being done more and more by the dealers. Equipment to be able to service new product, which will become used product is restricted. This will and in  many cases already has made your choice of service provider for you.

There is also a shift amongst  boat buyers today, city boaters are more apt to buy a PWC than a runabout, the overall cost of ownership is lower and you don't need a big slip or driveway to put it in. There are four kinds of boaters (does not include PWC owners),
 1- Cottage owner (The boat is an accessory to the lifestyle of being on the lake)
 2-  Cruising boater ( The boat takes me away to destinations)
 3- My boat is the cottage boater ( The boat is my getaway and I don't even care if it runs)
 4- The boater who loves the boating lifestyle but can not afford all that goes with it (The boat is older but I love being here anyway)

Dealers cater to boaters 1 thru 3, boater 4 is generally buying the older used boats that the dealers generally won't broker

 Since the late 1980's Marina's used to have a mix of all of the above boaters but even this is changing. Marina's are now a mix of boater 2 and 3 and very little 4. Boaters 2 and 3 are the marinas priorities and new boats play a huge role in this decision. Marinas require the high disposable income clients to carry their costs. It you want to watch a marina die start to move out the newer boats and their owners. They may fill the slips still but the boating experience diminishes. A great example of this is Ontario Place Marina, not because the park closed but boaters 2 and 3 did not want to bother with all the added stress that a partial (fuel and pump out only) service marina brings them. Now that they have decided to stay open they have a mountain to climb to get these boaters back.    

The whole industry is affected by new boat sales, new boats create quality used boats, certified service,  boating supplies and cash, lots of cash. I hate to admit it but the days of the independent service provider are in the books, and the book is closing. New boats are changing the service landscape, if you are not up to date with the new technology you will left in the dust. So boaters who have owned a boat for years and are comfortable with a marina and independent service providers fantastic. However I predict that change is coming and if you still  haven't felt the change that new boats are creating you will soon.

                                       We Will Make A Boat Nut Out Of You

                                                                                    Author RP

 

Copyright 2015 © Boat Nut Media, Toronto, Ontario. All rights reserved. No part of this information/publications may be stored in a retrieval system, transmitted, or reproduced in any way, including but not limited to photocopy, magnetic, or other record, without prior agreement and written permission of the publisher, Boat Nuts Media ©™ No liability is assumed with respect to the information provided

Boat Nut On Lline Magazine 2016

West Marine is done in Canada!

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Have you heard the news?

West Marine is closing all of its Canadian Stores, they are closing as there leases come due. So what does this mean for Canadian boaters? Well first this has been a source of parts, advise, and nice shoes, available seven days a week in our main boating communities across Ontario. I must say there mechanical parts inventory was not grade A, however they were always there and quite often could get you out of a pinch.

This news was a surprise as we are a growing boat market, Ontario was one of the fastest growing markets particularly when the US economy crashed. This is a typical US managed company that tries to fit there model into our market. The Canadian market is assumed to be the same as the US but we are not! West Marine had a great opportunity to ask there customers, after all we all became members of there discount program, how they could make a change to improve the bottom line. This falls back to what Boat Nut Media has been saying all along ask the boaters what they need, they will tell you, most are frustrated and will be happy to share their opinions. Why bother with a membership if you only are concerned with the bottom line. I digress this will leave us with Canadian Tire as the only chain store to purchase marine products seven days a week all over the province. This could be alright. We all shop Canadian Tire they just need to improve there inventory and product selection. I sure hope they understand the needs of Ontario boaters.

To all you boaters happy hunting for deals on bottom paint winterizing supplies etc. If your in Toronto you will be okay we have other options like Genco Supply. If you are in a market like North Bay lets hope Canadian Tire picks up the slack. Good Bye West Marine it was good while it lasted, but wait were can I use my points?

Lets blame there failure on "duties and taxes, its not worth while" a direct quote from a US supplier of product to Canada, from Ontario and Canadian Boaters to you WE ARE WORTH IT remember 2009 and 2010 when we were still buying boats and accessories come on!

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Copyright 2015 © Boat Nut Media, Toronto, Ontario. All rights reserved. No part of this information/publications may be stored in a retrieval system, transmitted, or reproduced in any way, including but not limited to photocopy, magnetic, or other record, without prior agreement and written permission of the publisher, Boat Nuts Media ©™ No liability is assumed with respect to the information provided.