Market Can't Keep Up With Boat Demand Right Now

in leofinance •  12 days ago 

Park attendance in places all around the world is up dramatically in the last several weeks, in some cases it is up more 242 percent or more.

Families are looking for things to do closer to home because of COVID-19 and many travel restrictions that still remain in place, with borders closed and flights or cruises cancelled etc.

This has meant that more people are turning to buying RVs or renting them to go on a little trip. And they are also looking to local beaches, parks, and other areas, that they can enjoy the summer weather and family time without having to travel too far to get somewhere nice.

Not only are RV rentals climbing in the past couple of months, but boat sales are growing as well.


Some boat businesses are sold out right now of all of their product, including old and new boat options.

Some boats will also face bidding wars because there are so many people who are out right now and looking for one.

Boat factories closed during the pandemic.

Their closure had an impact on the supply side of the market for boats and though they might be back to turning out product in many areas now, there is still too much demand and not enough to go around, some say.

Same thing with bicycles that have also seen a growing number of sales in recent months too, as more people look to bring the gym home with them or find new ways to get out and get active.

In a number of places they are selling out of boats and seeing booming sales in the past few weeks. Many of those who are going to look at boats are also first time buyers too, the same thing that those in the RV business have recently mentioned as well.

In April it is estimated that boat sales grew more than 59 percent.

For many people who are looking at boats it is a way to stay socially distanced during the summer, while also enjoying the weather and getting outside. It isn't surprising that they are seeing a spike in sales right now.

From Rhode Island to California, boat businesses are busier than ever.

Boats are joining bikes, RVs, and kiddie pools as becoming some of the most difficult items to find on the market right now.

Pics:
pixabay

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I've always associated boats with the wealthy, for the most part, most of them being people's second homes ,with a small minority living on boats as their primary residence.

This probably isn't good news for any ordinary person looking to escape the rat race by buying a boat, as I imagine this is mainly 'second home' purchases going on!

It's a fascinating thing the economics of boating - the amount we can sustain being fundamentally limited by harbours.

This also probably isn't good news for poor people living on coastal areas, as more land gets bought up to service wealthy boat owners.

Posted Using LeoFinance

apprec the comment👍

thats great news

imagine telling an economist that demand for boats is out doing supply, that BOATS are valuable and people ant to build more.... sounds like the american dream is like the default in USA, like you have no choice but to be wealthy, so wealthy its a liability lol

thx for the comment n share👍

Same here in waterrich Netherlands. Second hand cars also peaked in April as people no longer toake public transport with mask etc.