In a recent Soundings Trade Only article, writer Gary Reich reported that during remarks at the Miami International Boat Show, marine industry leaders discussed some of the headwinds facing the marine industry as a whole.
According to Reich, Dave Chanda, president and CEO of the Recreational Boating & Fishing Foundation (RBFF), said that after picking up more than 55 million new anglers during the pandemic, “Boat sales are softening, and we’re experiencing a higher-than-average churn rate. People are leaving angling at a rate that’s higher than we’ve ever seen.” Chanda said the RBFF is responding with a new campaign to bring more female participants into the sport.
National Marine Manufacturers Association (NMMA) president Frank Hugelmeyer agreed with Chanda that there are headwinds to contend with. “There are conflicting signs and confusion, and rising interest rates are starting to [adversely] affect dealers. The good news is that Americans continue to prioritize the outdoors, and demand [for boats] remains strong.”
The article reported that Hugelmeyer believes supply chain bottlenecks are easing and that inventory pipelines are refilling.