The superyacht experience no longer ends at the passerelle, says SYTT
Image courtesy of SYTT
The superyacht industry’s next challenge may not be building larger yachts, but recognising that the guest experience increasingly happens away from the mothership.
According to Josh Richardson, chief executive of Superyacht Tenders and Toys (SYTT), owners are investing heavily in larger vessels, yet many of the defining moments of a trip now take place in tenders, chase boats, beach clubs and during day-to-day guest transfers.
“The industry still tends to view tenders as ancillary equipment rather than strategic assets,” says Richardson. “In reality, they’re often the first and last touchpoint of the owner’s experience.”
He believes the industry is underestimating how important these assets will become over the next decade, with tenders and chase boats likely to be specified, valued and operated with a level of scrutiny closer to that applied to the yacht itself.
Superyacht tenders move from support role to strategic asset
Richardson argues that owner expectations now extend well beyond the yacht. Whether guests are arriving ashore, accessing remote destinations, participating in watersports or entertaining independently from the yacht, tenders increasingly shape perceptions of the overall experience.
As a result, he expects a shift in how owners, captains and management teams assess the value of these vessels.
“The challenge for the industry is adapting to that change and recognising that the owner’s expectations don’t stop at the passerelle,” Richardson (pictured left) says.
Greater transparency changes the buying process
Richardson also points to greater transparency as one of the most significant improvements of the past five years.
Historically, sourcing a tender or chase boat often depended on a relatively small network of industry contacts and extensive information gathering.
“Today, buyers have access to far more data, better market intelligence and a wider range of options globally,” says Richardson.
This has helped owners and captains make more informed purchasing decisions while increasing accountability among builders. He also notes that practices such as back-handed commissions paid to brokers have become less common, helping buyers secure better value and improving confidence in transactions.
Manufacturing skills remain in short supply
Like many sectors serving the superyacht market, Richardson believes the industry faces a continuing talent challenge.
“The hardest roles to fill are often the skilled manufacturing positions – composite technicians, fabricators, machinists, marine electricians and specialist assemblers,” says Richardson.
At Shipyard Supply Co (part of SYTT’s group), finding people with the necessary combination of craftsmanship, technical expertise and problem-solving ability remains difficult. These skills require years of experience and cannot be developed quickly.
Richardson also argues that cost pressures are encouraging greater use of artificial intelligence in some lower and middle management roles.
“A lot of the lower and middle management roles are being taken in part by AI, so long as the AI is cheaper than employing people that will continue to increase.”
Pressure on margins in equipment and watersports
“Margin pressure is most evident in yacht toys, watersports equipment, and tenders, where innovation cycles are accelerating but customer expectations continue to rise,” he says.
Manufacturers face rising development, compliance and support costs while competition continues to increase. At the same time, owners can compare products with mass-market alternatives sold through retailers such as Walmart, Decathlon and online stores, leading some to question the pricing of specialist superyacht equipment.
Richardson says the comparison is often misleading because superyacht products are frequently commercial-grade, bespoke or customised solutions designed for a different operating environment. He believes companies that can clearly communicate that difference, while continuing to support clients after the sale, will be best placed to protect margins.
More information about SYTT and its custom projects can be found on its website.
