EPG Specialty Information conducted a survey of 503 powersports consumers to assess their awareness of current events and how they perceive them. The demographic data revealed a predominance of male respondents and a higher representation of older age groups. Understanding how powersports enthusiasts consume information and their attitudes towards current events is crucial for industry players to effectively communicate with their customers. By prioritizing initiatives to better understand their customers, suppliers will be able to create more targeted and effective customer messaging strategies in both tone and medium.
Information Sources for Powersports Enthusiasts
The study found that powersports enthusiasts have a diverse set of sources to stay up to date with industry news and current events. Online articles are the most popular source, followed by email news updates and magazine subscriptions. The consumption of news through traditional media sources such as cable TV networks and AM/FM radio was also considerable. This suggests that a multifaceted approach to disseminating industry news and current events is essential, utilizing both traditional and digital media with a focus on online articles and email news updates.
News Discussions Common Among Consumers
Data from the survey indicates that talking about news with others is the norm for 57% of powersports consumers. The high percentage of neutral responses (27%) may suggest that while some consumers do not actively seek out news discussions, they may still be open to them if the opportunity arises. This highlights the importance of understanding consumer attitudes towards news and the potential for news-related discussions to facilitate engagement and social connections among powersports consumers.
Powersports Enthusiasts Highly Aware of Current Events
The research revealed that powersports enthusiasts are very aware of current events and use multiple media to keep themselves informed. Most respondents (77-95%) were aware of major events in the news, with the most well-known events being the recent downing of a Chinese balloon over US airspace (95%) and the war in Ukraine (90%). This suggests that powersports enthusiasts are informed and engaged with current events, particularly those with significant implications for national and international affairs.
Rising Cost of Living Tops National Concerns
The rising cost of living was identified as the top issue facing the country, with 86% of respondents considering it a big or very big problem. Domestic political turmoil and violent crime were also considered big or very big problems. Insights into the top issues facing the country can help powersports companies better understand their customers' concerns and tailor their products and services to meet their needs.
Industry Challenges: Supply Chain and Electric Vehicles
The supply chain issues and the advent of electric vehicles (EVs) are the top events directly impacting the powersports industry. Inflation and regulations are also significant factors. The findings suggest that the powersports industry needs to address these challenges to remain competitive and relevant in the face of evolving market dynamics.
Addressing Consumer Concerns for Effective Engagement
Recognizing and acknowledging the diverse concerns and opinions of powersports consumers is essential. The use of online and email media sources, along with industry magazines, is recommended to reach the maximum number of powersports enthusiasts. To effectively engage and retain powersports consumers, companies need to stay attuned to consumers' diverse opinions and concerns and maintain transparency in their messaging and product development.