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Raphael Sauleau notes new demographics have been entering the market and traditional clientele have been accelerating their purchases.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
Fraser CEO Raphael Sauleau noted on Tuesday that young Bitcoin<\/a> investors and technology<\/a> start-up executives have been major contributors to the boating business boom<\/a>.\u00a0<\/p>\n “We\u2019ve seen a change in our\u00a0average demographic,” Sauleau told “Mornings with Maria<\/a>” on Tuesday, noting that “a couple years ago,\u00a0the average age of clients was\u00a0between 55 and 65 and now we\u2019re down to 45 to 55.”\u00a0<\/p>\n “We sold yachts to as young as 25-years-old last year and the year\u00a0before,” he continued.\u00a0<\/p>\n “So they\u2019re coming from Bitcoin,\u00a0they\u2019re coming from tech startups,\u00a0but also hedge funds and we\u2019ve\u00a0seen a lot of customers coming\u00a0from these different\u00a0environments and younger\u00a0customers, both on the sales side and also on the charter side.”<\/p>\n Sauleau also stressed that the interest from new demographics is in addition to the business generated from traditional clientele.\u00a0<\/p>\n “The pandemic<\/a> has affected a lot of\u00a0people,” he told host Maria Bartiromo<\/a>, noting “the fact that\u00a0we\u2019ve been confined and not able\u00a0to travel for a while” has accelerated interest in yachts.\u00a0<\/p>\n “Some of our existing customers\u00a0they said, \u2018You know what? Maybe it\u2019s\u00a0time to have a bigger\u00a0yacht or a larger yacht.\u2019 Some of us said, \u2018I\u2019ve always been\u00a0chartering so why don\u2019t I buy a\u00a0yacht now?,\u2019” Sauleau said. “So we\u2019ve seen all this phenomenon, which obviously has been having a very positive impact on\u00a0the yachting industry.”<\/p>\n CALIFORNIA TRUCKING INDUSTRY LEADER WARNS WORKER SHORTAGE, SHIP BACKLOGS CREATING \u2018PERFECT STORM\u2019<\/u><\/strong><\/a><\/p>\n Sauleau\u2019s yachting company, which specializes in luxury yachts for sale and charters, has experienced a 175% jump from 2020 to 2021, Bartiromo mentioned, citing Fraser data.\u00a0<\/p>\n “2021 saw the highest demand<\/a> for yachts and yachting that Fraser brokers have ever experienced,” according to the company<\/a>.\u00a0<\/p>\n Sauleau pointed out that the company has been able to attract a lot of new customers “because of the possibilities\u00a0to travel somewhat freely.”\u00a0<\/p>\n He noted that Fraser has “seen a jump of about 61%\u00a0of new customers,” with 40%\u00a0of those new customers new to yachting.\u00a0<\/p>\n “So these numbers are really\u00a0incredible and clearly show that\u00a0yachting is attracting a lot of\u00a0new people today,” Sauleau told Bartiromo.\u00a0<\/p>\n FOX Business’ Jeff Flock speaks with Sailtime member John Palmer on the boating boom.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n Sauleau also discussed on Tuesday why he believes business has been booming for boats since the onset of the coronavirus pandemic, noting that “people are looking\u00a0for a place where they will feel\u00a0safer.”\u00a0<\/p>\n He stressed that on a yacht,\u00a0“you are controlling your own\u00a0environment, you are deciding\u00a0where you are traveling to [and] with whom you\u00a0are traveling with.”<\/p>\n Earlier this month National Marine Manufacturers Association<\/a> (NMMA) noted that demand for boating continues to reach near record-highs as more Americans turn to boating as an outdoor activity, especially as sports and travel continued to be impacted by COVID-19 as omicron cases surged<\/a>.\u00a0<\/p>\n The association noted that boat builders experienced supply chain disruptions<\/a> during the pandemic, which impacted new boat deliveries to retailers and hampered growth in 2021 as the industry faced heightened demand.\u00a0<\/p>\n Still, U.S. new powerboat retail unit sales are expected to surpass 300,000 units for the second year in a row, ending 2021 an estimated 4 to 6% below record highs in 2020 and 7% above the five-year sales average, according to NMMA.\u00a0<\/p>\n The association also noted that manufacturing productivity is accelerating to try to meet the demand for new boats, with boat building production nearing pre-pandemic levels as supply chain constraints ease<\/a>.<\/p>\n Fraser CEO Raphael Sauleau discusses why he believes business has been booming for boats since the onset of the coronavirus pandemic.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n In 2020, the market for boat and marine product sales surged<\/a> to $47 billion, up 9% year-over-year.<\/p>\n CLICK HERE TO GET FOX BUSINESS ON THE GO<\/u><\/strong><\/a><\/p>\n Sauleau acknowledged that yachting is “still a high price ticket,” but stressed that there are\u00a0“misconceptions” about yachting only being accessible to the rich and famous.\u00a0<\/p>\n He noted that chartering a yacht would cost about $40,000 to $50,000 a week.<\/p>\n