Monday, January 8th, 2018

How Millennials are Influencing the RV Industry

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What do you think of when you think of RVs? Personally, I think of a retired couple hitting the open road in their mobile home. Millennials–people born between the early 1980’s and the late 1990’s–are probably the last group of people that come to mind. The Baby Boomer Generation has long been the mainstay of the RV industry, but I would argue that’s about to change. Let’s dive into the changing ownership trends of the RV industry, and see how the power of cloud-based mobile apps can help bring the RV industry into the future.

A Nostalgia-Driven Investment
The up-and-coming generations are shaping the future of the RV industry. The average age of an RV owner in the U.S. is now 45 years old, down from 48 just five years ago; And in the same time frame, the share of RV owners with children living at home surged from 39 percent to 48 percent. Overall RV ownership age is declining, thanks in part to older Millennials coming of age into peak buying power. And, Millennials make up 31 percent of the adult population, but accounted for 38 percent of campers bought in 2017. This trend shouldn’t be completely surprising, as many of these older Millennials grew up with an RV in their life thanks to their Baby Boomer parents, and Millennials are all about nostalgia.

Big Travel Dreams on Small Budgets
As the Millennial generation enters the RV market, they are not only boosting sales number, they are changing product trends. Steering away from the stereotypical large motorhomes, younger buyers are turning to smaller travel trailers like Airstreams. Making up 87 percent of all RV sales across the country, travel trailers are the lightweight sibling to RVs, and provide young adults with an affordable, easy option for traveling and camping.

Have Mobile, Will Travel
It’s clear younger generations are entering the RV market, but is the RV industry ready for them? Yes, a boost in sales is good, but this younger generation is vastly different from their Baby Boomer parents. As a tech-savvy and mobile-centric group, the RV industry must evolve to meet Millennials where they are on mobile. Providing reliably fast, highly-personalized mobile experiences as part of their entire customer journey with your brand will ensure younger buyers come back time and time again for future purchases.

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