Issue link: https://read.dmtmag.com/i/459238
January 2015 | Boating Industry | 23 [ 2015 Industry Outlook ] www.BoatingIndustry.com Growth across the board Boating Industry readers are certainly feeling that confidence in the market as well. In our reader survey – conducted in November 2014 – 67 percent of respondents said their revenue was up in 2014 versus 2013. More than 40 percent said business was up more than 10 per- cent from 2013. Only 16 percent reported a decrease in revenue last year. Those numbers were consistent across all business types in the survey from dealers to manufacturers to service providers, distributors and others. The results were slightly better 9% 33% 25% 17% 6% 8% 2% Percentage of revenue change Up more than 25 percent Up 10 to 25 percent Up less than 10 percent Flat Down less than 10 percent Down 10 to 25 percent Down more than 25 percent HOW HAS YOUR REVENUE IN 2014 COMPARED TO 2013? HOW CONCERNED ARE YOU ABOUT THE FOLLOWING CHALLENGES? HOW IMPORTANT DO YOU EXPECT THE FOLLOWING TO BE TO YOUR SUCCESS IN 2015? WHAT ARE YOUR EXPECTATIONS FOR 2015 REVENUE COMPARED TO 2014? 6% 37% 41% 11% 2% 2% 1% Expectations Up more than 25 percent Up 10 to 25 percent Up less than 10 percent Flat Down less than 10 percent Down 10 to 25 percent Down more than 25 percent "The economy is growing. People are working, consumer confidence is [up]. Everything's just falling our way on the economic front." — Thom Dammrich, president of the National Marine Manufacturers Association 47% 21% 32% 29% 25% 9% 49% 51% 52% 65% 65% 50% 4% 28% 16% 6% 10% 41% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Affordability Water access E15 Competition from other activities Aging boaters Minority participation Unconcerned Somewhat concerned Very concerned 69% 62% 43% 27% 30% 38% 52% 52% 1% 5% 21% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Overall economic conditions Consumer confidence Weather Government regulations Unimportant Somewhat important Very important