Australia's Caravan Industry Worth $19 Billion, and Growing
The recent news is that the caravan industry in Australia is presently worth about $19 billion and has been growing from strength to strength. Entrepreneurs who are into the caravan business has been recently witnessing huge business and exceeding their sales expectations. As the market was cited to be of the low range which was around $80,000, such cheaper versions were tried to be pushed with less focus being given on the higher end ones like the caravans that cost about $140,000.
The Surprise Element
However, the market demand stated something else just opposite to the prediction. It is the higher end models that were selling fast, when compared to the low end ones. A good number of high end models were sold just at the caravan show that is termed to be phenomenal.
Caravan Business on a Roll
It can be safely said for the time being, the home-grown caravan industry has been enjoying great success with over 586,000 RVs (recreational vehicles) getting registered all over the country, which is cited to be a increase by about 4.5% from 2014, according to the 2015 Caravan & Camping State of Industry Report. Most of the sold ones over 528,000 are said to be caravans.
In 2015, 11 million overnight camping and caravan trips had been undertaken across the country, which again is a 7% increase from 2014, as stated by the report.
Facts About Caravan Industry
In camping and caravanning, the ‘grey nomads’ are no more stated to be the dominant players. Nowadays, 64% of the domestic trips are made by those people between 20 and 54 of age. According to the industry specialists the caravanning industry to the country’s economy is worth over $19 billion. What is regarded to be wonderful about this aspect is that 90% of the camping and caravanning activity is said to be undertaken in the region areas. This means that for small communities as well as regional towns, it is undoubtedly a significant economic activity. Moreover, the entrepreneurs of this business are unfazed with the challenges that emerge from the caravan business especially in the on-demand digital market place.
- The caravanning industry is said to possess the capability to adapt the products and be nimble towards the requirements of the consumers.
- The industry professionals are also of the opinion that the camping and caravanning industry has been experiencing a renaissance period.
With rich history to boast this industry is known to have great diversity as well as product for the different markets that keeps them in demand and being viable. Such disruption models are expected to form part of mix right into the future. However how successful it can be is something that only time would tell.