Meeting the needs of younger boat and recreational-vehicle buyers | McKinsey

Consumer demand for boats and recreational vehicles (RVs) was on the rise for years before the COVID-19 pandemic began—spurred by expanding interest from younger generations and by a broad-based boost in enthusiasm for outdoor activities. This growth surged to new heights in 2020 and 2021, as a flurry of pandemic-era buying from American customers seeking physically distanced escapes created a dramatic sales lift. However, in 2022, and so far in 2023, a mix of inflation, rising interest rates, and sinking consumer confidence have slowed that surge. As a result, the boat and RV sector has become increasingly rife with uncertainty. Now that the pandemic wave has crested—and a potential secular downturn looms—what’s next for the industry? How can leading boat and RV players build resilience and find growth amid a challenging moment? Inflation and interest rates are difficult to forecast, and consumer confidence is fickle. But one industry-shaping factor is here to stay: the overarching tr

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• Ryan Washburne