NORWALK — As Connecticut's largest in-water boat show returns to Norwalk, the industry looks for renewed growth after a stretch of inflation and high interest rates had some people scrutinizing the math on any purchase of a boat.
New boat sales and related equipment totaled $323 million in 2024 in Connecticut, a 4% increase from 2023 according to the National Marine Manufacturers Association. Those totals include marine engines, accessories and boat trailers.
But the the industry has dragged this year due to inflation, high interest rates and a bumpy stock market last spring that that has had some households putting off big purchases. Over the first six months of this year, sales of new powerboats were down 9.7% compared to a year earlier, according to NMMA estimates.
Still, stocks remain at historic highs and households reported a slightly improved outlook for their financial outlook in August, according to the Conference Board's most recent surveys, though overall consumer confidence remains flat.
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"If the consumer is feeling good about their income, if they're feeling good about their job prospects, if they're feeling good about their cash position and their savings, they're going to feel good about making a larger, discretionary purchase," said Ellen Bradley, NMMA's senior vice president of marketing. "We've seen interest rates and inflation slow things down a bit, however we are starting to see some bright spots."
Nearly 50 Connecticut businesses were expected at the Norwalk Boat Show, from brokers like A&S Boats with locations in Norwalk and South Windsor; to nautical-theme companies like Mermaid Bath & Bubbleworks in Shelton which sells soap and lotions, or Kane Bars in Greenwich which builds custom home bars with facades that mirror the stern of the owner's boat including the name and home port.
In addition to boat exhibits, workshops, water excursions and other events, this year's Norwalk Boat Show will include an "Engine Alley" exhibit that includes electric motors in addition to traditional outboard engines. Kylee Short — "Bait Barbie" on social media — will give lead fishing workshops on Saturday and Sunday.
"It is a show for very serious boaters ... to shop for what is new and shop for the latest accessories and look at Engine Alley," said Carrie Waible, NMMA's external publicist for the Norwalk Boat Show. "But it's also for people who just love living on the water in Connecticut and want to go do something fun."
Other September boat shows in the region include the Newport International Boat Show held the week prior to the Norwalk Boat Show, and the Today Beach In-Water Boat Show in West Babylon, New York, which coincides with the Norwalk Boat Show.
The Hartford Boat Show is typically among the earliest entries in the calendar year nationally, with the 2026 show scheduled for Jan. 29-Feb. 1 at the Earth Expo & Convention Center at Mohegan Sun. Others include the Wings, Wheels & Water Party in Bridgeport slated for next June featuring luxury yachts, automobile and seaplanes; the CT Spring Boat Show in Essex; and the Wooden Boat Show at Stonington's Mystic Seaport Museum.
Bradley believes the industry is on the rebound already, after boom years during the pandemic when people flocked to dealers for boats, whether the power or paddle variety.
"It's such a big boating community and this is the time of year where all the manufacturers are starting to debut their new models — it's really the start of the boat show season," Bradley said. "Norwalk is a good barometer for what happens in the coming year."
An executive with MarineMax expressed a similar sentiment in late July during a conference call with investment analysts, with the dealer having showrooms in Norwalk and Westbrook and several slips reserved at the Norwalk Boat Show to exhibit boats for sale.
"Clearly, there's a lot of wealth right now so people have the money to buy what they want to buy," said Mike McLamb, chief financial officer of MarineMax, speaking in July. "There's a ton of folks enjoying their boats, there's a ton of people at our events. ... They're just pausing the purchase decision right now."
More than 10,000 people attend the Discover Boating Norwalk Boat Show each year, according to estimates by the NMMA, which sponsors the show with Progressive Insurance. About four of every 10 attendees come with an eye on buying a boat in the future, according to NMMA survey feedback.
The Norwalk Boat Show runs from 10 a.m. to 7 p.m. through Saturday, and until 5 p.m. on Sunday, at Norwalk Cove Marina at 48 Calf Pasture Beach Road in East Norwalk. A one-day ticket is $20, with admission free for kids up to age 12 when accompanied by an adult. Information is online at www.boatshownorwalk.com.
Includes prior reporting by Andrew DaRosa and Nathaniel Rosenberg.
Alexander Soule is a staff writer with Hearst Connecticut Media focused on business, development and the Connecticut economy. Alex is a Maine native who served a two-year enlistment in the U.S. Army before attending Connecticut College. Before joining Hearst Connecticut, Alex started a growth economy website called Enterprise CT chronicling Connecticut startups, with previous work including the Fairfield County Business Journal, the Boston Business Journal, the Rochester Business Journal, Mass High Tech, InsuranceTimes and the MIT Sloan School of Management at the Massachusetts Institute of Technology.