Soundings Trade Only, the Marine Retailers Association of the Americas and Baird Research expanded a partnership to compile, analyze and deliver the most detailed insights into retail boating’s economic health.
Launched by the MRAA and Baird in December 2013 as the first report of its kind compiled specifically for marine retailers, the Marine Retail Pulse Reports are designed to provide industry professionals with a regular, timely look into retail trends at the dealership level.
Soundings Trade Only joins the partnership this month to participate in the distribution of the survey and the reporting of its results.
“The information contained in each Pulse Report simply can’t be found anywhere else, and we strongly believe our print and online audiences will find them extremely useful,” Trade Only editor-in-chief Bill Sisson said in a statement.
“Joining MRAA and Baird in gathering data and distributing the Pulse Report results each month was an easy choice for us, and we’re pleased to partner with these two organizations.”
Although the Pulse Reports analyze an array of industry data points, such as new-boat demand, inventory levels, access to credit and other indicators, the Marine Retail Sentiment Index, a sort of confidence index for retailers, was one of the chief reasons the reports were created.
Providing a glimpse into how dealers are feeling about current and future market conditions, the current conditions sentiment index rebounded to near-record highs in December and January after dipping early in the fourth quarter of 2016. The 3- to 5-year sentiment index remains at record highs.
“Regularly monitoring the economic vitality of retail boating not only plays a key role in how MRAA members plan their year, but identifying key trends allows marine retailers to adjust their long-range plans, as well,” MRAA president Matt Gruhn said. “Offering the industry access to the Pulse Reports provides an important baseline off which dealerships can make decisions.”
In addition to raw numbers, Baird provides an analyst’s report to accompany each survey. This expert analysis of the most recent data available adds valuable context to detailed analytics and allows the information to be applied with confidence at dealerships.
“Our goal is to make participation in the survey a quick and easy exercise,” said Craig Kennison, senior research analyst and director of research operations at Baird. “We’re interested in gathering data from dealerships of all sizes, and confidentially sharing a few important metrics can have a major benefit for the entire marine industry.”
Access to the monthly Pulse Reports is free for MRAA members; all others can view the report by participating in the survey or visiting www.rwBaird.com and creating an account.