Rv Industry Boom With New Markets

As we all know, in 2007, the economy took a major hit. But, what you may not have known is this recession devastated the travel industry, but against all odds, it has made a tremendous comeback. During the economic downturn, retirees and freedom seeking snowbirds, which were major factors in the industry, did not have the money to travel. Without this large group of customers, the industry began to crumble piece by piece. Thousands of employees were laid off from work, a third of the manufacturing plants closed their doors, and RVs sold dropped to about 160 units a year in 2007.

By 2013, with waves of baby boomers retiring, the industry began regaining traction. The average age of an RV traveler dropped from 49 years old to 48. RV units sold per year jumped to 350 in 2014. The industry has since been on the rise and is now revamping its RV's for the newer and younger markets.

The industry has been molding and changing the way it operates in order to appeal to these younger consumers and increase their industry as a whole. RV companies have realized that the younger generation does its research before buying or starting a new adventure. They are more likely to search for different deals and dig a little deeper into the campgrounds before starting the engine. Because of this, RV dealerships have increased their media presence and made sure all of their information is readily available, not only on the internet but within the mobile circuit as well. In addition, the RV industry has made it easier to buy and rent RV's online, appealing to the younger generation with exclusive offers.

The RV industry’s quick turnaround is all thanks to booming new markets; primarily the wanderlust generation, Millennials or Generation Y. The 2012 "Go RV" campaign helped market RV's during their post-recession comeback and changed the perspective that many young generations had about RV life. Previously, an RV was thought of as an ‘old couple’ camping trip, but now the public is realizing that it’s good for all ages and has a lot more to offer. The campaign revolutionized the RV brand to include young families who are looking to enjoy what nature has to offer, in addition to the lifestyle of older couples.

The industry has been marketing RV's in TV shows and movies to show that half the fun is getting there, not just the destination. “Go RV” advertisements show families and newlyweds traveling the world and enjoying nature the way god intended, which instills a sense of travel fever and pull to the outdoors. The campaign has a series of commercials that encourages consumers to find their "away" and reminds consumers that an RV is having a home away from home with your family.

Young families are turning to the roads, as a quick and cheap vacation with their new families. Newlyweds between the ages of 25 to 35 are also choosing to go RVing, over the traditional fly away, get-away. There is a drive that is found deeply embedded in the hearts of these Millennial's. Known as the wanderlust generation they are fascinated with different cultures and new cities. Generation Y seeks the thrill of adventure, but their own way and on their own time. New studies have shown that new generations are not dreaming of the corner suite and the top executive ladder; rather most Generation Y's are looking to be independent and entrepreneurial. They want to develop their own business and ideas by creating a startup and watching it grow. Millennials want to be their own boss in their own business, not be ruled by the confines of an office and a superior. The younger generation wants to live a simple life, not dictated by work or clutter.

The idea of "Tiny-Living" has also taken hold and convinced singles to trade in their unnecessary material things for a life in a small mobile home. Simple living is just that: a debt-free, junk-less, more freeing life. Plus, the industry allows consumers to try the simple living lifestyle before investing through renting. Consumers are able to buy the RV at the end of their renting; however, younger couples prefer to rent because it saves them the hassle of upkeep and the flexibility of travel.

The Industry is drawing in younger families in because it is a lot cheaper than buying a home and it also allows you the freedom to travel at your disposal. It is also adapting to Millennial's wanderlust passion without breaking the bank. Millennial's grew up in a time where RVing was popular with their parent's generation and as kids experienced the RV life. Now it's their turn to raise a family and wanting that same experience for their kids as they had with their parents.