Author Topic: SEADREAM YACHT CLUB ASKS HARD QUESTIONS AND SURVEY DRAWS REVEALING RESPONSES  (Read 2690 times)

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Phil

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SEADREAM YACHT CLUB ASKS HARD QUESTIONS AND SURVEY DRAWS REVEALING RESPONSES

Questions and Answers on the Economy, Recession, Stock Market Volatility, Economic Stimulus Package and Future Spending Patterns


MIAMI, Feb. 20---In the face of the barrage of unsettling economic news worldwide and dire predictions of its impact on discretionary spending patterns, SeaDream Yacht Club, award-winning purveyor of ultra luxury seagoing vacations, surveyed its customer base recently and came away with some conclusions that knocked its socks off.

The opinion survey of SeaDream’s past passengers indicated conclusively that a sizable majority of upper income households (65.3 percent) will continue to travel as usual for rest, recreation and other leisure pursuits. 34.2 percent stated some travel would be curtailed and only .6 percent said upper income households would curtail all travel.

But middle income households will be more circumspect about future travel according to the survey and a sizable percent will curtail some or all leisure travel plans. Only 5.5 percent felt the group would travel as usual. 83.2 percent will curtail some travel and 11.3 percent would curtail all discretionary travel.

The opinion survey by Miami-headquartered SeaDream Yacht Club---which operates twin mega-yacht cruisers on scheduled sailings and full ship charters in the Caribbean and Europe---drew responses from more than 25 percent of a 4000 database of affluent, past passengers with an average household income of $250,000 per year.

The opinion survey further showed some future spending would be curtailed for jewelry, gourmet food and wine, furnishings, autos, clothing and beauty products. Logically, housing---that distressed section of the economy--- took the biggest hit with 38.3 percent of respondents expressing that home purchasing would be dramatically curtailed.

But it was the opinions of these affluent responders on such high profile issues as the economy, recession, stock market volatility, U.S Government economic stimulus package and perceived problems that may be exacerbating them that startled SeaDream officials the most.

• When confronted with a statement saying that the economy worldwide is fragile and unsettled and then asked if they believed the U.S. and other parts of the world are sliding into a recessionary period, more than 70 percent said Yes.

• When asked if such a recession would be short term or long term, almost 80 percent (79.6) answered “Short Term.”
• When asked is stock market volatility was “just an inevitable swing.” 78.3 percent replied Yes.

• The question “Will the stock market correct itself drew 57.2 percent yeses with a majority stating it would be “Only after several years of volatility.”

• When asked if the U.S. Government intervention with an economic stimulus package would cause the stock market to correct itself and a recession avoided, 70 percent of respondents answered No.

A further question on the economy drew a decisive response: “There are those who believe that frequently economic issues are overblown by the media and that this has the effect of exacerbating problems,” 77.8 percent agreed.

Commenting on this survey that was sent to recipients last week and tallied this week, Larry Pimentel, SeaDream’s President & CEO, stated: The economy and how it might affect future purchasing patterns has so dominated the public’s thinking with ‘round-the-clock reports and opinions by all types of media, that we were compelled to go out to our past guests for their opinions.

“We did this in spite of the fact that our continuing review of our own business has shown that the year 2007 was an outstanding one for us and our 2008 bookings are even better---well ahead of those at this time last year. And of enormous interest to us is that as we look forward 2009 shows even greater positive response to our product.

“Nevertheless, just as with astute businesses in all sectors of the economy, we at SeaDream are always looking forward---far forward. Focused vision is a critical aspect of our financial planning.

“This survey will help us stay focused on our future and may help marketers of other types of travel products, as well as other discretionary product categories,” Pimentel concluded.

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