For the first time in months, marine retailers had a positive outlook on the industry. February’s sentiment on current conditions increased to 41 from 28 in January. The three-to-five-year outlook also improved, from 28 in January to 34. A score of 50 is neutral.

“Our boat show went really well this year,” one dealer said. “Overall attendance was down, but actual buyers were up. Big discounts and clear pricing helped a lot.”

Another added: “The Northeast is just waking up, and it’s boat-show time. We have hired some new staff in parts and accessories, and are ready to go. Early shows are trending positive.”

The dealers were responding to this month’s Pulse Report survey, for which Soundings Trade Only, Baird Research and the Marine Retailers Association of the Americas queried 83 dealers about retail sales trends, inventory and how they manage customer relations.

New-boat inventory remained higher than dealers would like, with 80% saying it was too high. With used boats, the numbers were closer to being balanced, with 37% of respondents saying they had too many preowned models, and 33% wishing they had more. Notably, more dealers acknowledged that manufacturers were working with them to alleviate inventory-related stress.

“Boat manufacturers [are] able to deliver, plus their aggressive promotions help gain buyers,” one dealer said. Another added: “Rebates from all the manufacturers are helping.”

Interest rates and the economy continued to be headwinds to sales, with buyers in the lower-priced segments still concerned about monthly payments and higher sticker prices. “Certain promotions/rebates offered from manufacturers were hard to get/qualify for,” one dealer said. “It’s hard to explain this to customers and still make the sale.”

Dealers said they found it helpful to promote their Customer Satisfaction Index rating and their Net Promoter Score. Dealers and manufacturers that do well in CSI are announced at boat shows and can use the acknowledgment to improve relationships with customers.

“We have a dedicated person to follow up with all clients,” one dealer wrote. “These scores are shared with our team. We have an annual party with spouses if our client delight averages are 92% or higher.”

Another dealer looks at the results to find areas where improvements can be made. “We use it to improve or implement processes in any area that a customer may not be completely satisfied with,” that dealer said.

Yet another said the biggest complaint from customers was about communication with the service department. “Before the season starts, we are instituting a new call-back program, letting the customers know the progress of their boats as they travel through the service department,” the dealer said.

Improving communication was the highest-rated tactic that dealers were using to improve the customer experience with service departments. This was followed by incentive plans for service writers and technicians, and written/shared job descriptions.

“We have processes for most everything we do throughout the dealership,” one dealer said. “It started many years ago, and we try and perfect our process every day with all employees, not just service.”

With the new boating season looming, one dealer stressed the importance of making the customer feel special. “Super important to continue to sell the boating lifestyle and its benefits while offering very high levels of education, instruction and support.” 

This article was originally published in the April 2024 issue.