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The "New" Powersports Consumer
by Gart Sutton

"Happy days are here again.  The skies above are clear again.  So let's sing a song of cheer again.  Happy days are here again."

This was the song that denoted the end of the Great Depression during the FDR administration. 

Many Powersports dealers in our 20-Groups believe we are finally emerging from the recent Great Recession.  Their financials are definitely beginning to show a positive turnaround. 

So everything's coming up roses.  Right?  Maybe not.  We still have deep-discounting competitors.  The government regulations continue to strangle our businesses.  Consumer access to the Internet is arming them for dealership combat.  And worst of all, dealers are unable to either predict or forecast (with any accuracy) their floor traffic and sales.

While these challenges can be overwhelming, we must not forget the paramount challenge – the “new” Powersport consumer that has emerged from that Great Recession.  While many are still suffering, the nation’s personal savings has risen and the future is beginning to look brighter. 

Despite the pent-up demand (for our major units and merchandise) and the accumulated discretionary dollars, today's consumer is much more deliberate in making purchasing decisions.  Clearly, they are doing more research and taking their time to make their decisions.

GE conducted a recent Consumer Study of Major Purchases.  The following research describes the behavior of the "new" Powersports consumer:

This isn't all doom-and-gloom.  While price will always be the driving factor for most, the “new” consumer is willing to pay more to get what they want.  As you know, there are some models that command full MSRP.  Furthermore, accessorizing is definitely on the rise.   Our 20-Club dealers are improving their gross margins and holding respectable bottom-lines. 

While the world is a different place, maybe happy days are truly here again!  Let's celebrate and keep the momentum.