The market for high-end hot tubs appears to be warming up as once-cautious customers now are looking to spend little more than they were this time last year, suggesting that the customers are looking for more luxury.
This is a much-welcome change of pace compared with the past three or four years when the market was beginning to stabilise. During this period, mid-range spas priced between £2,000 and £5,000 were taking market share from the lower-priced hot tubs.
“We’ve seen a big increase in volume, and a big part of that is the high-end spa, It’s definitely trending a little more high-end,”
But we acknowledge that even some of his most affluent customers have their limits. Models in the uppermost tier we sell, which retail for £10,000 to £12,000, haven’t been hot sellers but we feel with the launch of our swim spa range this will change as we are able to offer incredible finance offers across the range.
We are still pleased to see a broader mix of products selling, helping increase sales year over year.
Another encouraging sign: Hot tub owners are looking to upgrade. We estimate about 20% of higher-end spas were sold to second-time owners.
“Their existing tubs are about 5-6 years old and they have had great use out of their "tetser" and know that they get great use from their hot tub spa that now they want to invest in a better spa with more features or even a larger spa. “It’s time to trade up.”