Survey reveals as much as $23 billion spent annually on Outdoor Gear purchases they later regret.
Campers planning their summer excursions should be aware of a new survey showing that 25-percent of self-described outdoor enthusiasts admit to regretting at least half of the outdoor gear purchases they’ve made within the last 12 months.
The Outdoor Industry Association estimates that every year, the outdoor recreation economy generates $887 billion in consumer spending; $184.5 billion of that spending is strictly on gear. Based on survey results, if a quarter of those product purchases ended in regret at least half the time, the result is an astonishing $23 billion spent annually on outdoor gear the consumer later regrets buying.
“Overall, the number one reason for regret is that the product did not work as advertised, followed by the product being cheaply constructed, or of limited use,” said Amit Bhatnagar, an Associate Professor of Marketing at the University of Wisconsin-Milwaukee, who performed an analysis of the survey results.
To combat this rampant buyer’s remorse, Panther Vision® commissioned a nationwide survey to better understand the problem as the company designs and launches the revamped version of its “headlamp-in-a-hat,” the PowerCap 2.0.®
“In our shop, we refer to those regretful purchases as PUIs—Purchasing Under the Influence—which most people call impulse buying,” said Chas Waters, Panther Vision’s Director of Sales and Marketing. “We’re all guilty of it, and as outdoorsmen ourselves who’ve felt let down by products that fail to meet our expectations, our team wanted to know just how common this feeling is among others.”
From its creation, Panther Vision has sought to reimagine the use of LED products. After a lifetime of inventing with more than 25 patents to date, Founder Mike Waters has focused his energy on lighting innovation. The PowerCap® is at the core of Waters’ creativity, providing reliable hands-free lighting by embedding LED lights in the front of caps and beanies. Building on the original model, the 2.0 puts out four times as much light, offers three different light settings, and runs on AAA batteries that slide neatly into the hat’s lining, offering a design that seamlessly combines comfort, style, and function.
“From these survey results, we’re able to launch a better product that not only draws on the practical innovations that have made our products successful, but are also at the core of Panther Vision’s design strategy,” said Mike Waters. “At the end of the day, we want to ensure our products never let anyone down, no matter what they’re doing or where they’re doing it.”
