The Marine & Yacht industry is buzzing with anticipation and recent reports spotlight the buoyant state of yachting and marine trade. These insights showcase a marked surge in boat sales throughout the pandemic, with the momentum firmly holding its course. As the industry thrives, we at Durée & Company are perfectly placed at the heart of Fort Lauderdale—the “yachting capital of the world” and the “Venice of America”—to steer our clients toward success.
A Prime Location with a Global Footprint
Our strategic location places us at the epicenter of events like the Fort Lauderdale International Boat Show, Miami Yacht Show, and Palm Beach International Boat Show. These renowned settings, which draw international attention during the high season, are just a stone’s throw away. This proximity grants us unique opportunities and deep insights, enabling us to adeptly promote clients in the specialized yachting/maritime sectors.
Key Statistics on the Current Boating Industry
When planning for a boat show, it’s essential to grasp the current dynamics of the boating industry. Here’s a roundup of crucial statistics reflecting the state of the market:
- Boat Sales Trends: Boat sales witnessed a remarkable boom during the pandemic and continue to maintain strong momentum. This trend is backed by a midyear market index from Boats Group.
- Impact on South Florida Employment: The marine industry has significantly influenced employment in South Florida. As per a March report by the Marine Industries Association of South Florida, the industry’s contribution to regional employment is estimated at 141,860 jobs.
- Current Boat Values: There’s been a significant increase in boat values, with current figures nearly 20% higher nationally compared to 2019.
- Average Boat Value: Including both sailboats and powerboats, the average boat value in the U.S. now stands at $139,152, a substantial rise from $103,629 in 2019.
- Industry Outlook: Reflecting on the positive trends, Courtney Chalmers, VP of marketing at Boats Group, remarked that the report indicates “a very positive trajectory” for the boating sector.
- Millennial Engagement: A survey by Boat Trader in May revealed an interesting trend: 40% of millennials who purchased boats in the past one to three years intend to upgrade their vessels soon.
- Attracting Younger Demographics: Emphasizing the importance of the younger generation, Chalmers stated that the industry’s success hinges on its ability to allure new and younger customers.
Decades of Crafting Compelling Narratives
With our decades of experience, we’ve collaborated closely with brands targeting UHNW individuals and other key identified demographics. Our diverse collaborations have given us deep insights into effectively reaching these audiences. Many clients want their brand to stand out in this thriving industry but are unsure where to start. Our solution? A mix of strategic public relations, innovative marketing, and unforgettable events.
Weaving Tales that Captivate
When we handle PR for marine brands, we focus on telling the whole story. Not only do we highlight the unique features of the yachts and boats that attract buyers, but we also share the history of the brand and the passion of the people behind it. By blending these stories, we create connections between the brand and its customers.
Keeping a finger on the market’s pulse, our strategies resonate across diverse media channels—from business and yacht-centric platforms to broader lifestyle magazines. Our marketing expertise spans direct mail, e-communication, and strategic foresight. Additionally, our commitment to corporate social responsibility sees us curate tailored events and establish meaningful partnerships resonating with a multitude of audiences.
Crafting Immersive Experiences
For many in our target demographics, events are more than just showcases; they’re immersive experiences. These occasions allow attendees to fully delve into the world of boating, fostering connections with others who share their passion. Our team invests considerable thought into organizing these events, ensuring they align with both our clients’ objectives and the expectations of potential buyers.
Proven Expertise in Crisis Management
In the marine and yacht industry, it’s not just about promoting brands or events—it’s also about navigating challenges effectively. A testament to our skill in this area was our recent collaboration with Sea Tow Services during the challenging times of Hurricane Ian. Our task was complex: we had to design and implement a crisis management strategy that provided critical safety information to those affected.
Thanks to our combined efforts, Sea Tow was equipped to address the pressing safety and salvage issues posed by the hurricane promptly. The marine industry took note. Durée & Company was honored with an Honorable Mention in the Public Relations Campaign category at the 2022 Neptune Awards. This award not only acknowledges our expertise but also underscores the importance of effective crisis management and clear communication, especially in uncertain times.
The Evolution of PR Strategy in Marine and Yacht Industries
Durée Ross, our founder and visionary, recently shared her insights on the challenges and opportunities within the marine and yacht industries in an article for South Florida Business Journal. Durée’s piece sheds light on the evolution of consumer behaviors, emphasizing the shift in target demographics as well as the need for more adaptive, experience-driven marketing strategies.
In her article, Durée points out that the marine and yachting sectors are growing, but not all businesses are leveraging the available marketing and communications resources to maximize their reach. Durée also highlights key tactics such as consumer shows, events and branding. These strategies, when executed with a nuanced understanding of the target audience, can resonate deeply and influence purchasing decisions.
For more information, contact us to learn more about our services in the Marine & Yacht industry.
About Durée & Company, Inc.
Founded in 1999, Durée & Company is a full-service, well-respected and highly creative public relations and marketing agency serving a diverse client base of local, national and international consumer brands, landmark industries, business leaders and philanthropists from its offices in Fort Lauderdale, Florida and Aspen, Colorado. Practice areas include nonprofit, hospitality, business, lifestyle, health and wellness, legal, real estate, yacht and marine as well as cannabis, psychedelics, and other emerging industries. Durée & Company is the proud recipient of four notable 2023 awards: Bulldog PR Bronze Level for “Best Crisis Management,” Cannabis Marketing Association Seven Award for “Best Use of PR,” Fort Lauderdale magazine “Best of Fort Lauderdale Top PR Agency” and PR News’ People of the Year Award. Durée & Company is a member of PR Boutiques International™ (PRBI), an elite organization of global public relations professionals. To learn more, call 954-723-9350; go to dureeandcompany.com; cannabismarketingpr.com; or psychedelicpr.com. Join the social conversation and follow Durée & Company on Facebook, Instagram, X (formerly known as Twitter), YouTube and LinkedIn at @DureeCoPR