Sharon and I have been involved in the RV experience for just over 10 years which gives us a toe hold on the standing necessary to comment on the realities and trends in this pastime. The numbers are staggering, with over 80 million campers in America of which 51% are RV’ers. If you have ever considered this mode of travel, I think you will find this primer most helpful.
The industry is stagnant. High interest rates, volatility in the market and reduced dealer inventories are the current leash on the industry. Those of us that partake are keenly aware the Achilles tendon in this pastime is efficiency in service after the sale. Due diligence in dealer selection does you no good when you are a thousand miles from your carefully selected dealer. Mobile techs have breathed life into this consideration but can be expensive out of warranty. In 2023, RV sales in America have settled to around 316,000 units, a decline from 2022 numbers. At present, dealers are carrying some 80,000 fewer units in inventory (again, think interest rates which affect both sides of the equation). Total registrations of new units are, predictably, expected to decline in 2024. Analysts believe that sales, however, will outpace production in 2024. It does appear this is still a good market to shop in. The caveat is that analysts are also predicting that prices will drop in 2024, which may impact build quality. Over the past 20 years the percentage of RV ownership in America has increased by 62%. There are many reasons, with the ability to travel with your pets being one of them. Some 62% of RV’ers travel with their pets, mostly dogs. It is a significant factor in our household. The dramatically improving nature of parks is another consideration.
Next up, tech. Most RV’ers rely on online searches to make reservations and plan their trips. The campground industry is well aware of this and has developed enticing strategies to get you on their grounds. This same tech is absolutely necessary when needing help when out and about and needing to locate dealers and mobile techs. Sharon and I have, on the few occasions when faced with a problem above my pay grade, enjoyed tremendous responses from mobile techs. . While tech is wonderful, we tend to rely on the experiences of our circle of RV friends when planning trips to the far corners. The same folks that take pictures of RV parks for online advertising are the ones that unscrupulous realtors must rely on to turn a dump into a treasure. Be careful here. There are some 4500 campgrounds in America and they contribute about 24B to the overall 140B industry wide revenue stream. This is obviously a big industry that has seen significant growth in the past 10 years. This competition has forced campgrounds to upgrade to compete with the newer, more expensive offerings. Planning is the key to success when traveling as chance will leave you in a retail parking lot more often than not.
Practical matters. As you can see from the charts, camper trailers are the backbone of this industry. We prefer trailers for the convenience of unhooking and having a vehicle for exploration when you arrive at your destination. There are advantages to each category of RV construction, but mobility, without towing a second licensed vehicle, is our biggest consideration. To this end, we pull a long trailer at just under 40’, surprisingly easy to do with a little experience. Planning again is the key to having a big trailer chasing your tow vehicle around the countryside, particularly when selecting fuel stops.
Who are the folks who participate in this pastime? The average RV’er is 48 years old, married and enjoys an income of just north of 62K. We have found them to be gregarious, fun, honest and willing to help with anything perplexing at your site. We have made numerous friends from this group of folks who share our nomadic inclinations. Your RV neighbor is most likely to have travelled under 300 miles to get there and has a pup more often than not. He will know his way around a BBQ grill and travels with a complete set of tools and a roll of duck tape! With little science to back this up, I would suggest that RV’ers are the single most stable aspect of this industry and pastime. Stability is an absolute necessity when a spouse is providing direction as you back in to a tight spot! There you have it, from the fiscal to the social and practical aspects of this pastime as we see it, 10 years in. We still love it.
Have a great week!
SR
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