It’s always a hunt trying to find a worthy top 10 list to share with our loyal followers. I am a news junkie and I am always pursuing a number of news sites the moment my alarm goes off each morning. This past week I was happy to find this article, the Top 10 Stories that Defined 2010, from Soundings Trade Only Today. What a gem it is.
The top story for 2010 was… You’ve guessed it, the economy. In 2010, the economy had a mix of ups and downs. The stock market finished 2010 UP: “the Dow Jones Industrial Average was up 10 percent from 2009, while the NASDAQ gained 16 percent and the S&P 500 was up 12 percent.” But that was the only good news of year, ugh!
The oil spill in the Gulf affected our industry heavily, hence why it was the second story of 2010. “The Deepwater Horizon oil rig exploded April 20, killing 11 people and setting off the largest man-made environmental disaster in U.S. history. It took more than three months- and billions of dollars-for BP to plug the well. By the time it did, an estimated 4.9 million barrels of crude had spilled into the Gulf of Mexico.” The rainbow that the end of this storm, is that true to our history we banded together to bring aid to those most affected.
With the economy making it more difficult for dealers to stay afloat: changing production and sales models was the sixth top story of 2010. “We’re thinking out of the box to figure out how to market and sell product differently,” says Russ Davis, director of sales and marketing at KCS.
Brunswick went out on a limb by: “adding brands to about 50 dealerships, creating showroom pairings that in the past would have been unthinkable. In some cases, Sea Rays now sit next to Bayliners and Boston Whalers alongside Trophys.”
The season for boat shows is upon us and what do you know, boat show optimistic is the seventh story from 2010. “[Consumers] are still looking for a deal, but the good news is they are still looking,” Regulator Marine president Joan Maxwell told Soundings Trade Only after the Fort Lauderdale show, which saw a 5 to 6 percent increase in attendance.
And who doesn’t like their life story with a complete stranger? Social media came into the boating industry with force and that is why it’s the eighth story from 2010. “A recent study from Foresight Research shows that 84 percent of new-boat buyers had seen information on the Internet before they made their decision to buy. Most used the Internet to compare brands, models, engines and pricing. Overall, just 15 percent of buyers discussed boats on social media websites.”