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Data Shows Rise In First Time Boat Owners + New Boat Purchases

Marina Nazario | July 23, 2021

Newcomers Are The Largest Segment Submitting Leads, According to New Boats Group Study.

Cruising through the open ocean on a newly purchased boat is an exciting feeling. Whether it’s your first boat or your 9th boat, it means freedom, adventure, and new experiences. Despite the pandemic, the marine industry experienced a market uptick — the first quarter of 2021 revealed a significant increase in yacht sales across international, regional, and Florida markets.

Boats Group, the tech company behind the largest online marketplaces for boats and yachts, announced findings from its 2021 Lead Conversion Analysis that examined all U.S. sales leads across the Boat Trader, YachtWorld, and portals. The analysis found that the largest group of shoppers submitting leads across these platforms were those with no prior evidence of boat ownership — representing 56% of the Boats Group lead base. Data gathered from the study also shows an increase in new boat demand.

The Rise In First Time Boat Owners

Boats Group marketplaces such as BoatTrader, YachtWorld, and serve as a gauge for consumer demand, attracting the largest boat-buying audience in America. The analysis shared in June 2021, found that 1 in every 6 sales leads submitted on a Boats Group portal converted to a boat sale.

The rise in first-time boat owners indicates that consumers are shifting how they choose to spend leisure time, with boating a more appealing option than joining the crowd in an entertainment venue. The increase in submitted leads for boats and yachts is not only from new and veteran male boaters — Denison reports that 75% more women are shopping for boats online. The data suggests the surge may be due to women searching for fun ways to incorporate travel into their lives.

New Boat Interest

Among the total purchases made by people who submitted a lead on a Boats Group site, 36% of those vessels were for new boats. This percentage is higher than the overall market data, which for the same period reported 24% new boat sales and 76% pre-owned boat sales. Boats Group reports that the segments that reflected a high propensity for new boat sales are pontoon (56%), towboats (45%), freshwater fish (42%), and saltwater fishing (37%).

These results align with the purchase behavior of first-time boat buyers who tend to seek multi-functional family boats. A three-year period reviewed by Boats Group finds that 35% of first-time boat buyers purchased a new boat despite a historic tendency to favor pre-owned boats.

There are plenty of benefits to buying a new boat including new technology, warranty protection, and support. When you purchase a new boat with Denison, you receive comprehensive technical and operational training to get comfortable with your new yacht. This is especially attractive to first-time boat owners. We also offer on-the-water instruction with an expert captain to build your confidence and accelerate fun on the water.

Buy A New Or Used Boat With Denison

Denison makes purchasing a boat easy and convenient by providing knowledge on how to finance a yacht, trade a boat, survey a yacht, insure a boat, or purchase a yacht through cryptocurrency. Yup, you can buy a yacht using Bitcoin. Denison was the first brokerage firm to accept bitcoin for luxury charter bookings and boat sales at all price points.

If you’re still in that “thinking about it” phase, Denison’s Youtube channel is a platform for buyers and sellers to explore thousands of yacht listings from anywhere in the world. Videos include walkthrough tours, yacht charters, yacht tests, and new build reviews.

Denison is excited to help people get on the water. Whether you’re looking for a new Beneteau, Bertram, or Excess Catamaran, or a used Azimut, Hatteras, or Westport, we’ll connect you with a specialist who will guide you through the boat buying process. Contact a Denison yacht broker to find your next or first yacht.

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