RVing isn’t just for retirees anymore, according to a report by Business Insider. Millennials and Gen Zers are making life on the road cool again. And this rise in younger RVers is changing the industry.
Many new owners are now significantly younger than the stereotypical Baby Boomer driving a bulky RV. And now, RV makers are scrambling to cater to this younger demographic.
In general, RV ownership has been steadily rising. But the number of buyers in the 18 to 34-year-old age range has grown “significantly,” and now makes up 22% of current RV owners, according to data from the RV Industry Association. And of the current Millennial and Gen Z owners, 84% have said they want to purchase a new unit in the next five years, making this younger batch of road travelers — who often enjoy more tech and leisure add-ons — a prime target for RV makers.
“As we get into this next generation of buyers, the millennial generation is larger than the boomers, so we see this as a long-term opportunity for the entire industry,” Bob Martin, president and CEO of Thor Industries, said on CNBC’s “Closing Bell” in March.
While Gen Zers and Millennials have been flocking to life on the road, Class B and smaller Class C motorhomes have been rising in prominence.
Production, sales, and public interest in the Class B RV, better known as camper vans, has grown quickly and “significantly” through the past two years, Monika Geraci, a spokesperson for RVIA, told Insider in a statement. However, it should be noted that camper vans still only make up only a little over 2% of all RV shipments.
Now, legacy RV makers are looking for ways to draw in the younger crowd by producing smaller builds.