RV sales in America are on the rise. Why is America’s RV market booming? Here are 7 reasons why the RV market is exploding. We’ll also explain the long-term implications of these trends and how it affects RV buying today.
Here are 7 Reasons to Grow RV market in USA
01. The Grey Wave
Love them or hate them, Baby Boomers are one of the richest generations in human history. They’re hitting retirement age with more disposable cash than prior generations.
More importantly, they’re healthier than their parents at that age and expect to spend years in retirement. They’ve also lived in a world where travel is an expectation, not a luxury. This is why Baby Boomers are buying RVs in droves.
Furthermore, they’re buying full motorhomes and large RVs that are far more luxurious than the cheap camper trailers their parents may have owned. This is driving up the average price of RVs, though you can find affordable options on the market.
It is also increasing the selection among luxury RVs.
02. The Economics of RV Usage by Families
Camping has always been an affordable family vacation. It costs anywhere from one third to half the cost of flying to a destination and staying in a hotel.
For families with kids, RVs are far more convenient, too. You’re often taking a bathroom with you, and kids can nap or play whenever it suits them. This is why many families are renting RVs when they go on trips instead of simply traveling to the destination.
A percentage of these regular campers are choosing to buy an RV.
03. The Rise of the Digital Nomad
There has always been a segment of the population that wants to travel the world. The hard part was finding a job that allowed you to do so. Only so many of us could become international reporters or travel writers.
One benefit of the internet is that it allows far more people to work remotely. It doesn’t matter if they log in from a table in a coffee shop or desk in a home office. They can connect to the internet via free wifi or satellite internet services, and they can earn a living doing anything from marketing to writing to programming. They can do this whether they’re taking regular vacations or permanently live in an RV.
The RV has a number of advantages for digital nomads. It gives them a safe place to sleep when on road trips. They have all the comforts of home, and they don’t have to maintain a permanent address, though a mailing address at a business center is advisable. They can travel when they’d like and go where they choose.
If the gig economy doesn’t pay as much as they hoped, they can park the RV in a campground or a family member’s driveway and find a regular job.
04. The Growth of Seasonal Workers
Amazon’s shipping centers have become a hot topic lately. In the middle of the arguments of whether they’re exploiting workers, one company executive mentioned the long parade of RV tail lights as people left the parking lot at the end of the Christmas season.
A large number of their seasonal workers came in RVs to live in local campgrounds and facilities provided by Amazon, and now they were leaving. RVs also allow people to follow seasonal work wherever they find it.
A travel nurse or pipeline worker owns their home, and they can leave a bad work environment without waiting for the employer to give them a plane ticket home. They don’t have to pay a thousand dollars or more to rent a couch in a boom-town, either.
That has the side benefit of pumping up the price of RVs in given areas, where they cannot build housing fast enough.
05. The Small House Movement
A growing share of the RV market consists of small house enthusiasts. These are people choosing a small dwelling and minimal expenses. They may choose a small house so they can get out from under student loan debt, or they may be forced into something smaller and cheaper after bankruptcy.
Small houses built onto trailers are masterpieces of space utilization, but they also tend to be expensive. This is why many people joining this movement buy an RV instead. You can tour the RV before you buy it. It has most or all of the amenities of home. A small house on a trailer may be hard to get approval for, whereas an RV can be parked at campgrounds and mobile home lots.
RVs also tend to be easier to navigate. You don’t have to climb up a ladder to get into bed, though you have just as much or even more storage than the standard small house. And if zoning is a problem, you can park the RV in the backyard of a willing friend’s home or store it in a garage.
Selling an RV is easier, too, than trying to liquidate a small house if you decide you want to move into an apartment.
06. The Known, Pent Up Demand
In 2017, one industry survey found that ten million households owned an RV while nearly twenty million wanted to own one. Given that President Trump’s policies have caused wages to rise and unemployment to fall, we can expect to see many more people finally buy that RV they’ve always wanted now that they can afford it.
07. The Long-Term Demographic Trends among RV Owners
We’ve mentioned that the wave of Baby Boomer retirements will drive demand for RVs. Another demographic trend affecting the RV market is the normalization or popularization of RV ownership.
The average RV owner is between 30 and 54, not retirement age. This means that there will be far more RV owners in 20 years as these middle-aged adults hit retirement. And because they already own RVs, they’re going to continue to buy them over the next 30 years.
Summary
The RV market in the United States is growing. Furthermore, there are a number of trends that nearly guarantee significant growth in RV sales at all price points for years to come. To get more update of RV market, check rvside.com all time.
