Thor, the largest RV maker in the world, is shifting its focus from Baby Boomers to Millennials. That’s what company CEO Bob Martin told Jim Cramer last Thursday on Cramer’s CNBC TV show “Mad Money.” Here’s what Martin said.
“You look at the RV industry, the Go RVing campaign, our own internal advertising campaign. We’re getting younger people, we’re getting younger families, and I think, for us, it’s because we appeal not just to Dad, or Mom and Dad, but we appeal to the entire family.
“Millennials are bigger than Boomers, so for us as a company, we’re starting to talk to them.”
Martin told Cramer that this burgeoning trend has resonated in Thor’s products: the company is now building smaller, more affordable travel trailers and motorhomes to appeal to younger buyers.
To add to Thor’s appeal, Martin said that some private campgrounds are upgrading their areas with WiFi, amphitheaters and other amenities to satisfy millennial campers.
“The younger buyer, they want things just a little bit differently. They want it to be easy,” Martin told Cramer. “It’s still a very affordable way to go camp and to have a vacation, and it can be different every weekend. And, you know, you’ve said it: It’s all about Instagrammable experience.”