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 Driving the economy...
 
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Posted by: Dr. Philip R. Geist 11/13/2007 2:02 PM
In addition to the "snowbirds" who have a winter home in Florida, there are also people who drive their RV here for the entire winter or for a shorter period. Realizing that they are potential customers for many goods and services, I wondered what their demographics are. Here is what I found out...

Among the best places to find information about the Recreational Vehicle (RV) industry are media and trade associations that serve that industry.  Affinity Group International (AGI) is the nation's largest content company focussed on target marketing and media programs to outdoor recreation enthusiasts via member clubs, public events, television, radio, Internet, print media and direct marketing.  In the RV market, AGI publishes Trailer Life, Motorhome, Highways (the official Good Sam Club magazine), Coast to Coast (the RV and travel guide for Coast to Coast resorts), and RV View magazines.  RV View is the official publication of the President's Club, representing over half a million of Camping World's (nation's largest RV retailer with 36 outlets and 12 million annual mail-order catalogs) most active buyers.

With those impressive characteristics, AGI should have good demographics on the RV industry.  Here are some of their findings:

  • One in twelve U.S. vehicle-owning households owns a Recreational Vehicle.
  • RV ownership is growing faster as baby boomers enter prime RV buying years.
  • The number of RV owing households is projected to rise 15% by 2010, outpacing the 10% growth in households in the same period by 50%!
  • The typical RV owner is married, 53-57 years old, and has an annual household income of $72,000 which is higher than the national median.  They are generally retired, have their primary home paid for and can use most of their income on recreation and leisure.
  • The typical RV owner travels 4,500 miles a year and has interest in varied events from NASCAR races, to horse, dog, and antique shows.
  • The typical RV owner has a net worth of $484,000, owns three vehicles besides the RV.
  • The typical RV owner travels at least once annually in addition to RV travel and is three times more likely to take a cruise than a non-RV owner.
  • 81% of RV owners are active investors, owning and trading stocks and bonds, more than three times the national average.

A study by the University of Michigan's Survey Research Center in December of 2005 indicated that RV ownership has risen 58% since 1980 with a significant rise in smaller part-time RV ownership since 2001 in the under age 35 group that takes weekend camping trips as family recreation with their children.  Travel Assist Magazine online noted in an article by Richard Carroll that more than 850,000 RVers visit Florida annually with 41% staying eight weeks or more and 30% staying for at least 12 weeks.  They note that of the 600,000 Canadians who winter in Florida, more than 100,000 come by RV (www.travelassist.com/mag/a124.html).

The Recreational Vehicle Industry Association (www.rvia.org) projects that RV sales will rise by 3.5% in 2008 despite higher gas prices and a slowing economy as for both long-term travelers and for short family vacations, travel by RV is 25-75% less expensive than staying in motels and eating in restaurants for the entire vacation period.  RVIA publishes a 65 page study, "The RV Consumer in 2005," which is priced at $35 for members and $75 for nonmembers.  The study can be purchased online from www.rvia.hpb.com.

Given the number of RV parks in our area and the fixed and scheduled venues that are available at Silver Springs, Rainbow Springs State Park, the Ocala National Forest, the Florida Horse Park, the Horse Shows in the Sun, and so on that draw tourists to our area, there are many opportunities to market your goods and services to the RV-owning demographic.  RV owners should be top prospects in your marketing plan... they have the capability to drive your sales and profits higher!

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Re: Driving the economy...    By John Lyons on 11/27/2007 11:39 AM
Been reading through the past few posts. this is some good stuff. Keep it up.<br><br>John Lyons<br>http://john.lyons-den.org


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