As the Covid-19 pandemic continues to disrupt the global tourism industry, holidayers are looking for alternative ways to enjoy the summer. According to british marine.co.uk, boating sales grew by over 50% in the summer of 2020 compared to the year before and this figure has been steadily increasing since. For British families, purchasing a boat instead of going on holiday is another way of achieving a sense of adventure and escape amidst the pandemic and staycation boom. This has the added benefit that people are able to remain socially distant and safe while boating.
The increased interest in boating and other watercraft leisure activities is not only subject to the UK. Growing appetite for similar activities across Europe has provided a boost to economic growth in this sector in the UK, particularly for manufacturers and those selling boating and maritime equipment. Not to mention 70% of boat dealers nationwide in the USA reported increased sales in the spring of 2020 according to the National Marine Manufacturers Association.
After boat sales leapt to a 13-year high in 2020, boat builders and manufacturers are facing supply shortages. Marketplace.org reports that Back Cove Yachts, a USA based boating manufacturer reported order backlogs of up to 2 years due to soaring demand for equipment and other supply chain pressures such as the Suez canal crisis. As existing supply options dry up, buyers are looking for new sources of supply in almost every industry affected by current global supply issues.
Boating and maritime equipment suppliers have a fantastic opportunity to increase sales revenue within this period, on top of that boats are a long term investment and often need repairs further down the line, meaning increasing demand for equipment is expected to continue.
So how can B2B traders in this space capitalise on surging demand? By using an e-commerce solution that drives traffic based on product searches, and provides exposure to the 59% of millennial B2B buyers that prefer to find their products and business partners online, reported by TrustRadius.
SouqBox is the only platform designed specifically for B2B trade, with functions like negotiable and fixed price selling and logistics negotiation already built into the platform, the integration into the e-commerce world is seamless with SouqBox. The flexibility to turn your fully ‘own branded’ e-commerce store into a multi-vendor marketplace, allows users on the SouqBox platform to expand their reach and grow their online presence.
The demand is there, would it save you time and money if you could process orders 24/7 without having to take an email or a call? Join SouqBox today and capitalise on the boating and maritime boom.