THOR Industries has announced the release of its 2020 U.S. RV Rental Study, which explores consumer rental experiences, key motivators and purchase likelihood. The RV industry giant said it will use the survey results to enhance its understanding of RV rental trends and inform decisions within the THOR family of companies.
Comprehensively confirming the long-term viability and growth of the RV industry and lifestyle, the 2020 RV Rental Study found that a large percentage of renters are likely to purchase an RV after renting. The survey, which includes information from those who first rented both before and during the COVID-19 pandemic, examined renters nationwide. It included questions to assess consumers’ likelihood to purchase an RV in the future, to learn more about where and how RV renters are traveling and to determine how to provide an improved overall experience.
Several key findings from the survey include:
Likelihood of purchasing an RV in the future:
- 73 percent would likely purchase an RV
- 66 percent reported they are most likely to buy within the next 6-11 months
- 80 percent would likely purchase an RV similar to the one they rented
Overall satisfaction with the RV rental experience
- 97 percent were satisfied with the experience
“As a leader in the industry, it is important that we pursue and share data and insights about the evolving RV lifestyle – our 2020 RV Rental Study is a good indicator of how consumers are spending more time outdoors by way of RVing,” said THOR Industries President and CEO, Bob Martin. “One of the most promising findings from the study suggests that those who rent an RV have a high propensity to purchase, making the rental consumer a key component for future industry growth. This data will help better target renters to convert to purchase and continue building loyalty for the THOR family of companies.”
The THOR 2020 RV Rental Study also found that consumers rent to try out the RV lifestyle, which helps ensure they enjoy the RV lifestyle before purchasing. Accordingly, RV trials lead to future, long-term RV purchases.
For more RV rental findings and to view the study, please download it here.