Issue link: https://read.dmtmag.com/i/776460
February 2017 | Boating Industry | 33 [ 2017 Outlook ] www.BoatingIndustry.com NATIONAL PROPULSION DATA YTD 9/2016 NATIONAL ALUMINUM & FIBERGLASS YOY GROWTH 9/2016 NATIONAL SEGMENT GROWTH NATIONAL ALUMINUM & FIBERGLASS (NO PWC) YOY GROWTH 9/2016 Dammrich pointed out that the demographic trends show that if the in- dustry wants to reach out to younger boaters, it also means working to attract new demographics. Eighty-eight percent of Boating Industry survey respondents are concerned about the increasing age of boaters and reaching younger buyers. However, only 63 percent of those surveyed said they are concerned about the lack of minorities participating in boating. Nearly one-fifth of respondents are com- pletely unconcerned. "The major disconnect there is that the Millennial generation is the most diverse generation in history. You cannot attract a younger customer without attracting a more diverse customer. So we've got to open our minds and we've got to see the business opportunity that exists," Dammrich said. Many of those who responded to Boating Industry's October survey on new markets indicated they were not concerned about the lack of diversity because they believed these demographics did not have an interest in boating or couldn't afford it. "That is such a wrong-minded perception. There are millions of Cauca- sians that live in poverty and can't afford boating either. There are millions of Hispanics and Asians and African-Americans with the financial wherewithal to own a recreational boat, and we sell what they want, which is quality time with family and friends," said Dammrich. "We've got to get beyond our ste- reotypes and recognize that there is a really significant business opportunity by expanding our focus beyond Caucasian males. And frankly, in my opinion, it's imperative. If we do not, we will not grow."