What All Small Businesses Can Learn From the Manufacturing Renaissance
There’s a manufacturing boom happening in the U.S. And businesses like Thor Industries (NYSE:THO) are using unique selling points to capitalize on that growth.
Thor Industries is the nation’s largest maker of recreational vehicles. The company has more than 200 factories in the U.S., mainly based in Indiana, Ohio, Oregon and Idaho. And it’s currently expanding some of those factories even more.
Tips and Tricks of the Manufacturing Renaissance
Brands like iconic hat maker Kangol have brought their manufacturing facilities back to the U.S., but success is sometimes a struggle.
Thor Industries has used some unique methods to facilitate that growth. Part of the company’s strategy has been to focus on selling to millennials and other younger consumers, instead of the more established buyers that have long been a target for the industry. It has also started to build a sort of lifestyle brand around the RV industry in general, as well as appealing to the desire many young people have for experiences over material goods.
CEO of Thor Industries Bob Martin explained in a recent interview with Fox Business, “We’re reaching out to different demographics in a whole new way. We started through our GoRVing campaign through the RV industry. And we’re just educating people more about the RV lifestyle.”
The company’s factories in the U.S. allow it to leverage craftsmanship over automated manufacturing. But it also allows the company to stay more aware of its audience and the trends that can help the business continue to grow. And that awareness is something that all businesses, even those outside the world of manufacturing, can learn from.
Image: Thor Industries[“Source-smallbiztrends”]