RV PRO

January '21

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70 • RV PRO • January 2021 rv-pro.com RV I N S I G H T Opportunities Plentiful in 2021 Strong consumer demand for RVs is predicted through 2021, with mid-single digit percent retail unit growth forecasted for a majority of markets. However, supply chain and labor risks remain significant. T his past year presented both profound challenges and significant opportunities for the RV market. If 2020 taught us one thing, it is that an RV is an interesting and viable option for a lot of people looking to safely get out of their house. We also saw that the industry is ready and able to respond to this demand and bring in a new generation of RV fans. While there are some significant wild cards heading into 2021, it looks to be set up for another record retail sales year for RV dealers. This optimism is being driven by a number of factors, including: • Continued strong consumer interest/ demand and social media awareness, as RVs are becoming cool. • Replenishment of dealer inventory. • RV rental volume remains strong, with a larger pipeline of new unit buyers in 2021. • 2020 supply chain and product availability challenges at the retail level will likely push demand into 2021. • A lack of consumer spending on other discretionary items, paired with the desire to get out and travel safely. • Families still desiring vacations. Fortunately, RVing is one of the safest forms of travel, giving them a degree of control while outside the house. • La Nina means a warmer and drier winter than usual for the Sun Belt, a plus for camping. This region has great RV industry growth prospects, as it accounts for about 50 percent of all annual RV sales. At the same time, it is important to recognize possible risks, which include: • OEM shortages of parts • Labor force availability and health • Continued supply chain and import challenges By Jason Krantz Jason Krantz is the CEO and founder of Strategy Titan, a Chicago-based firm offering retail forecasting, strategic analytics and market intelligence capabilities. To download the firm's complete RV retail forecast report, visit www. strategytitan.com/rv.html Figure 1

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