China (Shanghai) International Boat Show (CIBS) participating companies preview China's boating market.
On April 11th 2013 the China (Shanghai) International Boat Show (CIBS) comes of age to shows itself a key player in the Chinese water leisure market.
CIBS has grown virtually every year since its birth in an underground car park 18 years ago and 2013 is no exception with its exhibition area up by 37% to 48,000 sq m, confirmed booths so far up 20% and a projected trade up around 30% to 3Bn RMB. In fact, the show is at 97% capacity with two full months to go until it opens its doors to the boat buying public. Audited visitor numbers to CIBS are expected to top 40,000.
In some ways CIBS has already started, as recently a forum of leading industry managers from Hessen, Sunseeker, Ferretti, Brunswick, Bavaria, Sunbird, Double Happiness and Sea Stella met to discuss the current position of the leisure boat business in China.
Comments at this forum reflected that Chinese customers were becoming smarter and wiser with an increasing sophistication and growing desire for after sales service and quality. It was also noted that local brands were growing in line with these increased expectationsC
It was also agreed that the market was growing in all sectors including: boat purchase funding, shared ownership, and purchase for family rather than corporate use. Challenges are also presented in education and training.