Marine Enthusiast Demographic Analysis

Part
01
of two
Part
01

Marine Enthusiast Demographic Analysis

In the United States, marine enthusiasts are between the age of 18 and 64. 72% of boaters have household income of less than $100,000. 54% of active boaters are male. Majority of boat owners (marine enthusiasts) reside in Florida, Minnesota, Michigan, and California. And, 90% of boat owners belong to white ethnicity groups.

Demographics of marine enthusiasts

MARINE ENTHUSIASTS BY AGE

A screenshot of the above mentioned information which was obtained from Statista is here.

MARINE ENTHUSIASTS BY GENDER

  • 54% of active boaters are male.
  • 46% of active boaters are female.
  • 75% of first time boaters are male.
  • 25% of first time boaters are female.

INCOME LEVEL

  • 72% of boaters have household income of less than $100,000.
  • 60% of boaters have household income of less than $75,000.

RACE

As of 2010, the race of boat owners can be classified as follows:
  • Whites: 90%
  • Black: 3.4%
  • Asian or Pacific Islander: 3%
  • Native American: 2.1%
  • Mixed Racial Background: 1.1%
  • Other Race: 1.1%

LOCATION

HOME OWNERSHIP

  • 750,000 boat owners own a home.

LEVEL OF EDUCATION

  •  13% of marine enthusiasts have no high school diploma.
  • 17% are high school graduates.
  • 24% have some college certification.
  •  47% have bachelors/graduate/professional degrees.

Other Relevant insights

Your Research team applied the following Strategy:

When we commenced our research to create a demographic profile of marine enthusiasts in the United States, we were able to locate precompiled information on age, sex, income level, level of education. However, we could not find any direct data on race, employment, location, home ownership, and children.

Since there was no precompiled information on race, employment, location, home ownership, and children details, we attempted to derive marine enthusiasts' location details based on the number of boat registrations by state, assuming the more number of boat owners reside in those states. Further, we searched for details on home ownership and discovered that 750,000 homeowners own a boat, which, in turn, means that 750,000 boat owners own a home.

National marine manufacturers' association is the most credible source to derive details on demographic profile of marine enthusiasts. Also, to avoid presenting conflicting data, we garnered details on gender and race from NMMA. We discovered that the most recent report published was from the year 2016. And, regarding the classification of marine enthusiasts based on race, the only source we were able to find was from the year 2010.

In order to identify the employment status and number of children marine enthusiasts have, we examined several credible sources such as nmma.org, recpro.org, brandongaille, uscgboating, Statista, usdatacorporation etc. and could locate the data on number of job opportunities in recreational boating industry. But, nothing specific to employment status nor the number of children was found.

Later, we tried to derive information on employment status and the number of children for marine enthusiasts based on available data of age group and income level. For this, we looked into pewresearch, businessInsider, pewsocial trends, wordstream etc. But, we could not find the required information. Most of the data we found dealt with general age groups such as Millennial, Gen X, baby boomers etc. and was not specific.

Further, we tried to locate information on employment status, number of children for marine enthusiasts from demographics of various boat owner forums, boat clubs and their social groups in US but most of the focus on upcoming events and pricing and does not focus on employment status, number of children for marine enthusiasts in various websites such as Americas boat clubbing, premierboat club, national boatclub, meetup etc.

As our last resort, we tried to derive customer profile of boat manufacturers in the United States to find the employment status and the number of children. Yachtall, Baja, Bayliner, Boston whaler, and Chaparral were some of the sources we looked into. We mostly found information on boat prices and revenue details. But, nothing relevant to what we were looking for.

To conclude, information on employment status and number of children of the boat owners or marine enthusiasts is scarce in the public domain.
Part
02
of two
Part
02

Marine Enthusiast Psychographic Analysis

Marine enthusiasts’ purchase decisions are shaped by their emotions, perceived value, and experience in shopping as well as affordability among other factors. They tend to choose online shopping channels due to benefits such as convenience, a broader range of product portfolio and associated cost savings. On the other hand, others choose in-store options owing to the possibility of customization, access to expert advice and opinions as well as a minimal risk of buying the wrong product. Marine enthusiasts majorly use internet sources for research on products.

Marine Enthusiasts' Buying Habits

Reasons Marine Enthusiasts Buy Online

  • CONVENIENCE-Marine enthusiasts choose online platforms owing to the convenience attached to such shopping experience.
  • Through online shopping they get to have their ordered items faster compared to the longer time it takes one to visit a physical store to buy a product.
  • COST CUTTING-Additionally, some marine enthusiasts choose online platforms because of the cost savings they realize from the same.
  • BoatstoreUSA, for instance, offers marine equipment at discounted prices through its online platform. They state that it is in response to its consumers’ demand for cheaper alternatives.
  • BROADER PRODUCT PORTFOLIO-Some marine enthusiasts choose online platforms given the more extensive range of products from which to choose. For instance, in the case of West Marine online platform, one customer was able to acquire a product that he was not able to find anywhere else even after visiting several stores.
  • In line with the broad product range advantage, there is minimal time wastage as consumers can browse and find specific products and order the same with surety, rather than walking to a physical store and not finding the desired product. Such a customer would have to spend more time locating the desired product from various locations.

Marine Enthusiasts Research Channels.

  • According to a boating industry white paper, boating enthusiasts are using multiple sources to research on valuable information on boats and other marine equipment.
  • The internet has over the years gained popularity among marine enthusiasts as a reliable source of information.
  • Such enthusiasts utilize numerous sources including product reviews posted online as well as other feedback available on Facebook and Twitter among other social media platforms.
  • In addition to media channels, marine enthusiasts make use of the customer support lines that are available on individual marine equipment companies’ websites.
  • Marine enthusiasts also make use of expert opinions on products that they get from visits to physical stores.

YOUR RESEARCH TEAM APPLIED THE FOLLOWING STRATEGY:

To find information on the psychographics of a marine enthusiast, we began the search by scouring through the industry websites such as the Boating Magazine and expert blogs such as the Marine Enthusiasts Weekly Blog to get general insights into the topic. The strategy did not yield any desired information, only providing information on maritime organization and events. Our efforts to locate pre-compiled information from various sources also proved futile.
We adopted a creative approach by identifying some maritime equipment companies from whose websites we found information that describes their consumers. We utilized a pre-compiled list of top companies in the sector for purposes of such information. We also made use of a white paper, study findings and an industry report to find additional information. In some circumstances and following the lack of required information in other sources, we made use of sources older than two years but was keen to include information that are inline with the current status of the marine industry. Our findings are as presented in this final brief.

Sources
Sources

From Part 01
Quotes
  • "Boating is a middle class recreational activity. Seventy two (72%) percent of boaters have household incomes under $100,000. Over 60 percent of boaters had a household income of less than $75,000."
Quotes
  • "According to the report, the recreational boating industry generated $170.3 billion in economic activity in 2018, supporting more than 35,000 businesses and 691,000 American jobs across all 50 states."
From Part 02
Quotes
  • "People don’t buy an expensive recreational product like a boat because of logic. The buying process starts with the emotions. Then logic is used to justify that decision"
  • "The explosion in media options has changed consumers’ buying habits. They are now using multiple sources when searching for information to buy a boat, and we are seeing a dramatic increase in consumers choosing the Internet"
Quotes
  • "Many outdoor consumers have a “good is good enough” mentality towards outdoor products, citing that they don’t need the best gear or equipment on the market. Durability, quality, and comfort are product attributes that many consumers are willing to pay more for."
  • "Outdoor consumers shop with a purpose. This is not to say that impulse purchasing doesn’t happen, but 75 percent of consumers shopping for outdoor products are shopping with intent."