There’s good news in a recently released Boat Trader survey that 40% of millennials who purchased a boat during the pandemic sales boom are reporting their intent to upgrade.
This generation was once mocked for spending their money on avocado toast and grande lattes. They have been slower than other generations to start buying homes, but they’re now pumping the housing market with a willingness to spend and finance.
Millennials are sometimes called “echo boomers,” being children of baby boomers, and this generation is large relative to boomers.
More than half of this first generation to grow up with the Internet are now homeowners, and they’re the group with the largest ownership gains of any generation in the last five years, according to the Boat Trader survey. Millennials are marked by elevated usage of mobile devices and social media, which is why they are occasionally dubbed “digital natives.”
So just who are these millennials? They’re the generation born between 1981 and 1996. Millennials now outnumber both boomers and generation X, which means they represent a rich boat-sales environment. Even more, millennials are also receiving inherited wealth.
It’s notable that the study, performed on Boat Trader’s “For Sale by Owner” platform, found that 49% of those who bought boats from private sellers within the past one to three years expressed a desire to upgrade, with millennials being the largest generational segment.
The survey also asked respondents if they were first-time boat buyers, and of the 2,300 who stated this was not their first boat, 68% were millennials.
The Covid-driven sales boom is over, so dealers again have to aggressively go after sales. Examine your customer profiles and communicate with them. Reach out to millennials using promotional materials such as those available for free from Discover Boating. Hold in-store promotions and family events. Attend local boat shows. Echo boomers should be a top priority in any dealership.
Another Angler Caught
You’ve gotta be kidding!
On the heels of a scandal that rocked tournament fishing in Ohio comes news of another attempt to cheat at weigh-in, this time at a Michigan event.
Lead sinkers were found stuffed into the a contending fish’s head during Michigan’s popular Omer Suckerfest on the Rifle River.
Every spring, thousands of suckers swim inland from Lake Huron up Michigan rivers to spawn, and the tournament hosts anglers of all ages from all over Michigan to catch the heaviest specimen. Anglers can enter three fish, and the prize for the heaviest fish this year was $1,000; second place was $600.
According to organizers, when called to the weigh station, the person who submitted the fish admitted to stuffing it with sinkers. Michigan DNR said no fishing laws were broken, so it opted not to investigate. Larceny by conversion (taking money by false pretense) is a civil issue.
Weighmaster Deric Rogers banned the man from his tournaments but declined to press charges, noting, “I won’t put up with cheating.”
“The fact that we caught it and called him out on it will be shame enough. My focus is on the hundreds of families that come out to enjoy the tournament and the memories that the kids take with them forever.”
There was a tie for first place at Omer this year, with one of the winners being a 12-year-old girl. The difference between her fish’s weight and the disqualified fish was 0.02 of an ounce.
