Issue link: https://read.dmtmag.com/i/459238
January 2015 | Boating Industry | 29 [ 2015 Challenges & Solutions ] www.BoatingIndustry.com BRUCE VAN WAGONER, president, marine group, GE Capital, Commercial Distribution Finance One of our greatest challenges is to improve in- dustry data with better accuracy and timeliness to optimize inventory levels. Taking advantage of this Information Age will allow manufac- turers and dealers to make better decisions to improve profitability. As an industry we must commit to establishing a standardized inventory tagging system similar to the auto industry. By continually monitoring the location and poten- tially condition of boats, motors and trailers we can improve management efficiencies and drive down carrying costs. This process may take longer than 2015. JOHN GIGLIO, president/CEO, Freedom Boat Club Affordability remains at the top of the list as the industry's biggest chal- lenge. All of the great marketing in the world won't matter if we price ourselves out of the mar- ket and make the cost of entry too high. I've personally heard some manufacturers commit to reducing the costs of their boats and I hope that happens. However, as an industry, we need to innovate and collaborate together to jointly promote other affordable options of introducing newcomers and younger people to boating. Of course we advocate boat clubs, but other attrac- tive gateway points of entry include rentals and fractional programs. BILL MCGILL, CEO, chairman and presi- dent, MarineMax, Inc. The biggest chal- lenges which our industry faces are external and beyond our control as they create uncertainty in the consumers' minds which impacts their pur- chase eagerness. The things which we as an industry can control revolve around affordabil- ity of our recreation. When times are uncertain and customers are faced with challenges in their own jobs and businesses, they are more prone to seek out our great recreation for stress relief and family bonding. Getting the message out by delivering great experiences for our customers and marketing efforts showing that boating is really life changing, affordable and the best fam- ily recreation in our opinion should be the main thrust of our industry. STEVE BAUM, president, Boat Owners Warehouse and chairman, MRAA The biggest challenge we are currently facing is finding qualified, motivated technicians. We need to make sure that we as individual busi- nesses as well as an industry are supporting all of the current programs that are in place to train workers, such as vocational schools. We need to get the word out that the marine industry is a great way to make a living, we have good qual- ity, high paying jobs that can provide a future for anyone interested, not to mention that we are an industry dedicated to having fun. This needs to start at the middle and high school level. Students at that level need to be exposed to the opportunities available in our industry so they can start thinking along those lines. We just hired a graduate of the Riviera Beach Ma- rine Academy which is a high school program dedicated to maritime pursuits, we got a great new hire with a knowledge base in what we do, because he was in the program. We need more of these programs around the country. MARK DIPIETRO, group manager, Honda Marine With gasoline prices in check and slow but steady growth in the overall economy, our top priority is bringing new boaters into the market. At Honda Marine we are addressing this chal- lenge by promoting our unique strengths: the strongest brand name in the business and a great value. Working with boat builders and our dealer network we want to drive demand for Honda outboards, giving confidence to the consumer that the boating industry is a very worthwhile recreational activity on all fronts: fun for the fam- ily, great power, performance, fuel economy, and overall a great way to experience the outdoors. RON HUIBERS, president, Volvo Penta of the Americas There are plenty of challenges on the horizon for the boating industry. I'll focus on two of them. The first is continuing to attract new families and generations into boating as a preferred leisure life- style choice. We have demographics in our favor, with boomers in better financial condition and millennials who want to share experiences with their extended families. To that end, Discover Boating is doing a commendable job of promot- ing the boating experience, and boat shows help to generate excitement and drive sales in the mar- ket. It will be interesting, too, to see what impact the new "boat clubs," which offer an alternative pathway into the boating experience without ownership, will have on market growth. Our challenge is to deliver on the expecta- tions that are being stimulated by these market- ing initiatives – and create a new generation of lifetime boaters with a passion for the lifestyle.