Current Trends in the Electric Boats Market
Innovative, emerging technology like electric boats may be unfamiliar to fishing boat shoppers, which could make them more reluctant to purchase. So how should your dealership approach selling a little-known product to shoppers? Boatline, an online marketplace for buying & selling watercraft, is sharing insights with Bass Angler Magazine from their recent survey of marine consumers to identify five top tips for selling electric boats, plus the current trends in the market.
Trends in the Electric Boat Market
A substantial portion of survey participants (39%) indicated they are solely considering an electric boat when they buy again. Another 33% said they were looking at both gas and electric boats. Just 27% of current boat shoppers stated they were only searching for a gas-powered boat.
When respondents were asked if they would ever consider buying electric, 16% said they wanted to buy one immediately, 25% were hoping to buy within a year, and 19% were looking to buy in the next two to five years. Conversely, 32% of boat shoppers said they were unsure when they would consider buying electric and 8% said they never would—indicating ongoing hesitancy among consumers.
The most appealing elements of electric boats for surveyees were quiet engines (54%), saving money on gas (47%), producing fewer emissions (46%) and lower environmental impact (45%). The top disadvantages identified were charging time (49%), battery weight (38%), greater initial investment (34%), and a lack of amenities available to support electric boats (35%).
Finally, survey participants were asked what might convince them to change their stance on electric boats if they were uncertain about buying. Respondents indicated that testimonials from current electric boat owners (43%) and informative articles about electric boats (42%) would be the most convincing. Another 37% said they’d like to have more models to choose from, while 36% said informative videos. Finally, 34% said seeing an increase in people with electric boats would make a difference.
Top Tips for Selling Electric Boats
- Understand Consumer Perceptions of Electric Boats
Understanding how your local customer base perceives electric boats is essential. Ask shoppers if they’re interested in electric boats, what advantages and disadvantages they see, and whether they would consider buying one. Once you have a clear understanding of your own customers’ preferences, you will have a better idea of how to guide them toward a sale. - Identify Influential Marketing Strategies
Find influential marketing channels that will help compel consumers to purchase electric boats and drive sales. According to the survey results, boat shoppers would be most influenced by first hand reviews. Draw on your recent electric boat customers for testimonials to help strengthen your marketing strategies and inform shoppers’ buying decisions. The survey also indicated that consumers are looking for more information about electric boats. Your dealership has an opportunity to become a trusted, expert resource by providing consumers with quality articles and videos. - Emphasize the Benefits of Electric Boats
When executing your strategy, think about how you will frame your message to drive more electric boat sales. Emphasize the benefits identified by consumers in the survey, including zero emissions, lower environmental impact, a quieter engine, and saving money on gas. - Guide Consumer Response
While you’re emphasizing the benefits of electric boats with your shoppers, address their concerns by educating them. Several potential obstacles were identified in the survey, including engine charging time, higher prices, lack of amenities for electric boats, and the weight of electric batteries. Help overcome them by highlighting the long-term benefits of electric boats, including savings on batteries over the years vs. soaring gas prices. - Ensure Your Listings are Effective
Whether the boats you’re selling are electric, hybrid or gas powered, it’s crucial to create effective online listings to drive sales. When listing your inventory for sale, make sure you take high-quality photos and videos, provide a thorough and accurate description for each listing, set a competitive price, ensure your contact information is up to date, and be responsive to your leads.
Electric boats provide an exciting new opportunity to drive sales for your dealership. We hope these tips inspire you as you identify strategies for increasing electric boat sales. For further analysis of electric boat trends and tips for selling, check out the recent whitepaper from Boatline: https://pages.boatline.com/electric-boats
