The golf world got some encouraging news this week from The NPD Group, a market research business, who reported that the golf market “has not only recuperated but experienced a significant uptick in sales” in the past 12 months, resulting in an 8% year-over-year increase up to $2.6 billion.
“The macro environment for golf has been in a turbulent state, fueled by Golfsmith’s bankruptcy, major brands cutting back on their golf business, and courses closing. But today, we’re starting to see normalization in the market as those deep holes are now being filled,” Matt Powell, the vice president and senior industry advisor of The NPD Group’s sports division, said. “Major sports retailers are now investing in golf to pick up some of the business, and brands are also placing emphasis on the category to spur innovation.”
Following shakeups in the U.S. golf retail business over the last few years, the market has not only recuperated but experienced a significant uptick in sales over the last 12 months. https://t.co/5jURJzgBE4
— The NPD Group (@npdgroup) January 14, 2019
The industry saw increases across every product category. Clubs, which make up 50% of the category, grew by 7%, while equipment accessories such as balls (6% increase), gloves (7% increase), accessories (21% increase) and training aids (13%) also made positive strides in 2018.
Callaway, Titleist and Wilson were the fastest-growing brands among the top-10, joining TaylorMade and PING as the other two members of the top-5.
“With thousands of Baby Boomers retiring every day, there is great opportunity to introduce new retirees to golf,” said Powell. “While systemic issues remain, I expect the golf business will be much better for the near term.”