Issue No. 47: Boating Industry Faces Mixed Currents Amid Changing Trends 🌊🚤
Ahoy, Outsiders! As the sun sets on another thrilling summer, and just in time for Labor Day weekend - Outsider Insider Issue No. 47, takes a spin around the boat industry. 🚤⚓ From the initial surge that propelled boat sales during the pandemic to the current ripples of uncertainty, we're navigating the waters to uncover the latest trends and insights in the world of boating.
According to Discover Boating - Labor Day is the last of the three busiest boating weekends of the year - Memorial Day, July 4th, and Labor Day. We hope you get some time on the water this weekend but until then grab your life jacket and embark with us on this exploration of the boating industry's waters. 🌞🌊
Hop in! 🛥
— Scott Crowder
📢 Spread the word! Share this email to help expand the Outsider Insider community. Join us on LinkedIn.
🌊 Rough Seas Ahead? Boat Industry's Mixed Earnings Spark Uncertainty 🚤
⚓ Smooth Sailing or Choppy Waters? The boating industry, once riding the wave of a pandemic-driven surge, is now navigating a more uncertain course. While boating enthusiasts flocked to the waterways during lockdowns, recent reports suggest that the tide may be shifting for some boat companies.
🚤 Pandemic's Impact: As Axios reported in "Americans' Boating Passion Still Afloat After Pandemic," the boating industry found itself in a favorable position during the pandemic. Americans' newfound passion for boating contributed to a $27.3 billion boost in current-dollar value added in 2021 according to the Outdoor Recreation Satellite Account reported by the Federal Bureau of Economic Analysis. Boating and fishing emerged as the largest conventional contributors to the economy and a primary driver of activity in many states, with Florida ($4.0 billion), California ($2.3 billion), and Texas ($2.0 billion) holding the helm as the top contributors.
📈 Ups and Downs: However, recent quarterly earnings reports from leading boat companies tell a mixed tale. Malibu Boats swung into a fiscal Q4 loss despite a sales gain in saltwater fishing, and MasterCraft Boat Holdings similarly reported worsening boat trends in fiscal Q4. These losses signal a potential shift in the industry's trajectory.
💡 Insight and Analysis: The boat industry's ups and downs underscore the need for a nuanced understanding of consumer behavior and economic dynamics. While pent-up demand and a desire for outdoor activities initially fueled the industry's growth, the emergence of supply chain challenges, economic fluctuations, and shifting consumer preferences could be influencing the current trends. As summer comes to an end and the industry faces new challenges, key players will need to adapt and innovate to weather potential headwinds.
🌊 Navigating Forward: The boat industry's journey isn't on dry land just yet. Boating's enduring appeal remains a cornerstone, but the industry must remain agile and responsive to changing market dynamics. As some companies report losses and a sense of worsening trends, industry leaders will likely focus on recalibrating strategies, exploring new markets, and ensuring a robust supply chain to navigate the waters ahead.
Business, Industry, & Economy:
🏡 Sustainable Shelter: Patagonia's founder goes beyond fashion, as Fast Company's "Why Patagonia's Founder Built a Home Out of Hay" unveils his unconventional approach to architecture. A hay home brings sustainability to the forefront, highlighting the fusion of innovation and environmental consciousness in design.
🍻 Cheers to Collaboration: KOA takes camping to a new level with their unique venture! RV News shares the scoop on KOA's inaugural beer collaboration. This creative endeavor blends the world of camping and craft beer, offering outdoor enthusiasts a refreshing way to unwind.
🛍️ Retail Collaboration: Academy Sports + Outdoors teams up with L.L.Bean for an exciting venture! PR Newswire's unveils the fusion of two iconic brands, offering a fresh shopping experience both in-stores and online. A match made in outdoor retail heaven!
🏔️ Changing Landscapes: Midwest Mountaineering, a trailblazing outdoor retailer, is closing its doors after 50 years. Star Tribune's explores the evolving outdoor retail landscape, marked by the rise of giants like REI, Scheels, and Dick's Sporting Goods. A reminder that the outdoors industry is also shaped by market shifts.
🏞️ Campground Innovations: Get the scoop from Woodall's Campground Management as they dive into the updates from Outdoory's New Fund. Exploring how the company's fresh fund developments will impact the outdoor accommodation landscape, this piece unveils insights into the outdoorsy evolution.
♻️ Greening Your Cash: Want to make your money matter for the planet? Dive into Exponential Roadmap's "Greening Cash Action Guide." This guide provides a roadmap for aligning your financial decisions with sustainability, offering insights on how to invest in a greener future. It's your chance to turn your dollars into a force for positive change!
🌟 Parked in the Spotlight: The National Park Foundation welcomes Juliet Gilliam as the Vice President of Media and Entertainment Partnerships. With her background in strategic partnerships and media relations, Gilliam is poised to amplify the impact of collaborations that bridge the natural wonders of national parks with media and entertainment outlets.
🏞️ AllTrails Launches Guides: Seeking outdoor adventures? AllTrails guides the way with an extensive compendium of guides covering the United States. Whether you're traversing picturesque trails or charting unknown terrain, AllTrails' comprehensive collection empowers you to explore the diverse landscapes the U.S. has to offer.
🌍 Sustainable Spotlight: Commons takes a step towards greener choices by launching a sustainable brands feature, aiding individuals in discovering climate-neutral brands. In a world where conscious consumerism is gaining momentum, this initiative adds another layer of accessibility to eco-friendly options, aligning purchasing power with planet-friendly practices.
🇺🇸 American Outdoors Conference: Registration is now open for the 2023 America Outdoors Conference and Outfitter Expo. Set against the vibrant backdrop of Phoenix, Arizona from December 5-8, the event casts a spotlight on enriching experiences for those immersed in outdoor adventures. Owners and managers of outdoor organizations can dive into education sessions, roundtable dialogues, and networking opportunities, all aimed at casting a wider net for growth and fostering community within the professional outfitter landscape.
🏂 Shades and Slopes: U.S. Ski & Snowboard teams up with Knockaround sunglasses, extending their partnership until 2026. Sporting shades with a purpose, this alliance supports athletes on and off the slopes, blending style and functionality for the ultimate mountain look.
SPONSORED BY DRAGON ALLIANCE
🔥 Dragon Alliance End of Summer Sale Alert! 🕶
Looking to upgrade your eyewear game? Look no further. Dragon Alliance is here to elevate your style with their unbeatable End of Summer Sale, offering a cool 30% off select styles. Whether you're after sleek sunglasses for those sunny adventures ☀️, cutting-edge eyeglasses for a fresh new look 👓, top-notch snow goggles for hitting the slopes 🏂, or stylish apparel to complete your ensemble 👕, Dragon Alliance has you covered.
Don't miss out on snagging high-quality gear that blends fashion and function while saving big. Dive into the Dragon Alliance collection now and let your style soar! 🐉🕶️🏔️🛍️
Sustainability, Conservation, & Environment:
🚫 Rule-Breaking Ripple Effect: Psychology unveils a new twist in human behavior. A fresh study reveals that witnessing rule-breaking behavior in others can unleash our inner rebel, leading us to engage in actions we wouldn't typically consider. This psychological phenomenon could hold the key to understanding the perplexing puzzle of why social influence often nudges individuals toward decisions that harm the environment.
🌊 Flood Fight in the Windy City: Chicago's costly battle with water woes. As the city invests a staggering $3.8 billion in flood prevention measures, doubts linger over whether it will be enough to keep the rising waters at bay. The high-stakes gamble reveals the increasingly complex nature of climate resilience efforts in urban areas.
⚡ Wind Power on a Grand Scale: A game-changer in offshore energy. The world's largest floating offshore wind farm sets sail, demonstrating a leap forward in renewable energy technology. Anchored off the coast of Norway, this project could be a beacon of inspiration for nations aiming to harness the power of wind over water.
♻️ South Korea's Composting Success: From waste to global model. South Korea's innovative approach to composting transforms trash into treasure, not only solving its own waste management crisis but also setting an example for the world. The journey from food scraps to fertile soil showcases how a sustainable solution can gain international recognition.
🌳 National Park Budget Woes: A deep dive into the dollars. With a proposed $433 million cut to the National Park Service budget, it's time to unpack the financial landscape of our cherished parks. From entrance fees to congressional appropriations, discover how funding shapes the national park experience and why the potential budget squeeze could cast a shadow over these natural wonders. But don't just watch—join the movement urging Congress to support these sanctuaries at the heart of America's identity.
❄️ Extreme Weather Whiplash: The Messenger unveils the astonishing weather rollercoaster in a Swiss town that went from record heat to snowfall within just four days. This dramatic shift emphasizes the unpredictable and intensified impacts of climate change on local climates worldwide.
🌱Swapping Asphalt for Green Space: Fast Company takes us into the "depave" movement, where communities are tearing up asphalt to create green spaces. The movement showcases the transformative power of repurposing urban areas, with a focus on sustainability and the revitalization of cityscapes.
🌊 Coral Conservation Breakthrough: The Garden Island shares a groundbreaking achievement in conservation as researchers successfully revive frozen corals. This achievement holds significant promise for preserving coral reefs and highlights the ongoing efforts to combat the devastating impact of climate change on marine ecosystems.
Health, Wellness, & Fitness:
👧 Norway Leads the Way with Nature: AP News delves into Norway's outdoor approach to children's well-being, highlighting the nation's embrace of outdoor education and the positive impact it has on children's physical and mental development, while fostering a deep connection to the environment from an early age.
🌱 Reevaluating Marijuana's Status: Bloomberg reports on a significant shift as the U.S. Department of Health and Human Services calls for moving marijuana to a lower-risk drug category. This move highlights the evolving perspective on marijuana's potential benefits and its impact on healthcare and policy.
🧠 Exercising the Mind and Body: Medical Xpress covers a study that explores the link between cardiovascular exercise and cognitive decline. The research highlights how engaging in rigorous physical activity can act as a countermeasure against cognitive decline, underlining the interconnectedness of physical and mental health.
🚶 Urban Wilderness Trek: The New York Times "Hiking Wild in Urban America" invites us on a journey through bustling cities where the call of the wild still echoes. With urban green spaces offering a respite from the concrete jungle, this opinion piece reflects on the unique blend of nature and urban life, revealing the enduring allure of the outdoors.
Diversity, Equity, & Inclusion:
♿ Adaptive Adventure Discounts: Westword delves into the push for inclusivity in the ski world as adaptive athletes are offered discounts on Epic Passes but not Ikon Passes. The article raises an important question: if one pass can make the mountain experience more accessible, why not others? It's a call to action to ensure that every adventurer can hit the slopes, regardless of their abilities.
🚶♂️ Paving the Way to Nature: AFAR explores the efforts to make national parks more accessible, shedding light on how innovation is breaking down barriers to ensure that all individuals, regardless of abilities, can experience the awe-inspiring beauty of these natural wonders.
👟 Inclusive Trails in Breckenridge: Summit Daily reports on Breckenridge's stride towards inclusivity, highlighting the initiative to make recreation more accessible, starting with a popular trailhead. The journey towards accessible outdoor experiences begins with small steps towards removing obstacles and embracing everyone's right to enjoy the outdoors.
Travel, Tourism, & Hospitality:
🚐 Rolling into Labor Day: RV Pro breaks down the road trip trend as 16 million people are expected to hit the open road for RV adventures this long weekend. From highways to campgrounds, the allure of RVing continues to captivate as travelers seek the ultimate blend of mobility and comfort.
💥 RV Safety Under the Microscope: RV Travel gives us a crash course in safety with a 40 mph RV crash test. The impact serves as a reminder that hitting the road comes with a responsibility to prioritize safety, ensuring that every RV journey is an enjoyable and secure adventure.
💰Modern Adventure's Funding Trek: Portland Inno unveils a travel startup's financial ascent. Modern Adventure's raised $4.8 million to usher in expansion mode, with plans to bolster their travel offerings and assemble a robust team. The travel platform's innovative approach of pairing wanderers with experts in various domains resonates with those seeking immersive journeys.
Government, Grants, & Policy:
🎉 Pennsylvania Pioneers: The Outdoor Recreation Roundtable celebrates Pennsylvania's strides. The launch of a dedicated Office of Outdoor Recreation puts the state's commitment to nature on a pedestal. This move stands as an example of how states are recognizing the economic and communal potential of outdoor recreation.
🌄 National Outdoor Vision: Deseret explores the grand plan for outdoor recreation. The unveiling of a national blueprint for outdoor recreation by the BLM in Utah reflects the significance of outdoor spaces as a driving force for both economic growth and environmental stewardship.
💧 Waterfall Woes: A splash of change could be coming to a beloved Boise hike. The Bureau of Land Management's proposal for a day-use fee or annual pass to access Jump Creek's stunning 60-foot waterfall aims to manage the rising throngs of visitors. As the Bureau seeks public input on the plan until Oct. 2, outdoor enthusiasts weigh in on whether paying for pristine beauty is the right cascade of action.
🌾 Rural Resurgence: The Outdoor Recreation Roundtable's news emphasizes unity. Backing a bill to strengthen rural communities through the outdoor recreation economy underscores the sector's potential to revitalize rural areas. This partnership signifies the broader societal impacts of embracing the great outdoors.
🚜 Farming for Recreation: Bloomberg Law turns its focus to legislative exploration. The prospect of Schumer-Bennet's outdoor recreation measure being included in the farm bill highlights the interconnectedness of outdoor activities and agriculture. This integration could cultivate sustainable growth in both sectors.
🚗 Electric Boost: TechCrunch reports on President Biden's electrifying move. Offering $15.5 billion to accelerate battery and EV manufacturing is a significant jolt to the sustainable mobility landscape. As the automotive industry charges ahead, this investment charges up the race toward a greener future.
🌾🏞️ Private Lands, Public Impact: AG Week highlights the USDA's investment in conservation and climate action. The $65 million pledge to enhance sustainability on private lands underscores the vital role of agriculture in combatting climate change. This partnership between government and landowners sows seeds of environmental stewardship.
Products, Gear, & Gadgets:
🏄♂️ Surf's Up: Fast Company unveils the changing tides of luxury amenities. Forget the fairway— big wave surf pools are riding the next wave of exclusivity, offering a high-end aquatic escape for those seeking a different kind of swanky soak.
🌱💪 Holistic Wellness: Athletech News delves into Alo Yoga's latest venture—a supplement line to complement their wellness-focused approach. This shift beyond athleisure demonstrates a holistic commitment to supporting customers' health and fitness journeys.
🚲📦 Electrifying Cargo: The Verge takes us for a spin with Specialized's new ride. The 🚲 Globe Haul LT e-bike cargo promises a greener, faster, and more versatile urban commute. As cities lean into eco-friendly mobility, cargo bikes are steering us toward a smarter, sustainable future.
♻️ Textile Transformation: TechCrunch unveils Refiberd's mission to tackle the textile waste challenge. With AI-powered sorting, this innovation promises a brighter future for recycling discarded fabrics, turning yesterday's fashion into tomorrow's sustainable treasures.
🌊🧥 Weathering the Waves: GearJunkie dives into Patagonia's latest foul-weather gear, built to brave the toughest waters. The Big Water sailing bibs and jacket blend protection and style, proving that adventure and eco-consciousness can ride the same wave.
🚴♀️ Electric Search and Rescue: Vista Outdoor announces the game-changing QuietKat E-Bikes that are revolutionizing search and rescue operations. With these electric wheels, first responders can navigate rugged terrain with ease, redefining how swift assistance reaches those in need.
🎥 REI Studios Presents: In the heart of the concrete jungle of Brooklyn, New York, stands a verdant oasis: Prospect Park. Narrated by the charismatic Steve Buscemi, the REI Co-op Studios film "Saturday in the Park" takes us on a captivating stroll through this emerald gem, introducing us to a tapestry of park enthusiasts – from birdwatchers and ecologists to dancers and musicians. As the film immerses us in this vibrant haven, it sheds light on the invaluable work of the Prospect Park Alliance, a non-profit organization that ensures this urban retreat thrives for the diverse communities that find solace in its leafy embrace.
If this email was forwarded to you, you can subscribe here.