News Blip: Baby Boomers Embracing The RV Lifestyle
IBD Reports On The Impact This Demographic Cohort Will Have On RV Sales This Year & The Benefits RV Parts Supplier Patrick Industries Will Reap
According to the Recreation Vehicle Industry Association, RV shipments will increase 4.4% to 438,000 units in the U.S. in 2017. That's on top of 12% growth expected this year. Baby boomers, typically in the age range of 52 to 70, who are able to retire and have the disposable income are planning on purchasing RVs to enjoy leisure travel. This is good news for Patrick Industries, RV parts supplier for RV builders serving both the towable and motorized RV segments of the industry.
IBD writer Patrick Seitz relates in his article: "Patrick has benefited from the growth of the overall RV business, as well as from acquisitions that have increased its content in each RV built." Not all retirees can get an RV. They range from folding camping trailers that start at $5,000 to luxury motor homes costing $500,000 or more. Seitz reports: "The RV trade group has identified three consumer groups that are most likely to buy RVs: kid-free adult adventurers, nature lovers and active family adventurers."
Check out the full article at Investor's Business Daily right here.
-MRV: The Buzz