Golf industry sales have shown a positive trend over recent months possibly boosted by both the Open at Royal Portrush and then the Ryder cup at Bethpage golf course in the United States. But the question on many people’s minds has been, could it continue?
Well, October’s foot fall on the High Street was down for the sixth month, according to BRC’s Sensormatic IQ monitor. Sales were also less than had been expected partly brought about by canny shoppers waiting for the November’s Black Friday deals. In addition, consumers lacked lustre showing little interest in spending particularly as the media were forecasting the budget to be one of the toughest in recent years. Result, sales fell back compared to recent months with food in October at + 3.5%, the non-food category, which golf falls into, + 0.1% and online flatlining at 0%. These giving an overall sales increase in value terms of only +1.6%.
The Golf Industry
So how did the golf industry fair? Surprising well! Overall sales in value terms compared to last year were +11.6%. At first site this looks fantastic. However, deeper analysis shows that October 2024 did not perform as well as the previous year. So, it makes sense to compare this year’s figures with those in 2023. Golf once again bucked the retail trend showing an increase for the month of 5.7%. On the same basis clubs were +3.5%, apparel +11.0%, consumables +10.9% but light durables failed to break even at -0.5%.
Drilling down further to individual hardware products and comparing them to 2023 ten out of the eleven products showed growth ranging from +4.3% for woods to +22.6% for putters. Only irons failed to grow finishing the month at -5.0%. Apparel did less well. These ranged from +2.5% for men’s trousers and shorts to +19.1% for men’s tops. Women’s clothing did not do quite as well with skirts and slacks weighing in at -6.5% and -8.5% respectively.
Year to date, referred to later as YTD, figures in contrast need to be compared against 2024’s figures. July started a growth trend from +3.9% to +4.4% by September. A good October has pushed this further so we are now showing a YTD growth at +5.0%. A commendable position in these difficult times.
While some of the growth will be accounted for by inflation, Sales volumes have increased year to date in 14 out of 19 categories. Over the same period ASP’s have increased in 16 categories year on year but only by an average of 2.5%.
The Future
By the time you read this article the Chancelor’s budget will be well known. Tax rises are inevitable but lets us hope doesn’t cause too much instability. As we come the end of the year there is still the Xmas period to look forward to. While not the biggest month, December usually brings a positive finish to golfs retail year.
Golf Datatech is a Circana Company and the leader in golf industry research. It provides the trade with specialised market research covering retail sales, inventory, pricing, distribution, along with strategic sales and marketing consultancy.
Golf Datatech research is based on millions of transactions per month, all recorded by EPOS systems at the point of sale.
For greater detail contact John Hassett on 07976 797081
Definitions
Clubs: Woods, irons, putters, and wedges
Apparel: Men’s and women’s shirts, trousers, skirts, tops and weather wear
Consumables: Balls and gloves
Light Durables: Shoes & Bags
