Benchmark Study Highlights Key Trends in Combined $8.7 Billion Market
Research on Individual Product Categories Yields Unprecedented Data Regarding Equipment Sales
On the heels of announcing a major alliance to aggregate data from the world’s #1 and #2 golf markets, the industry’s two leading independent golf research and data firms, Golf Datatech, LLC, and Yano Research Institute Ltd., have introduced the first U.S./Japan World Golf Market Report. A benchmark study designed to capture the true size and scope of the combined U.S. and Japanese retail golf markets, the report yields unprecedented data regarding equipment trends in the two countries which encompass nearly 70% of the world’s golf equipment and apparel market.
Highlighting the study, data concludes that the overall size of U.S. golf market vs. Japan in dollars, frequently assumed to be 2-1, is actually closer to a 3-2 size differential. This is based on an aggregation of all equipment categories, while considering a breadth of factors such as the respective economies, fluctuating exchange rates, annual weather trends, natural disasters and more. In fact, according to the report, the U.S. estimated equipment and apparel market netted nearly $5.1 billion in sales 2013, while the Japanese market realized nearly $3.7 billion in sales (U.S. dollars).
Among the unique findings for individual product categories, the study reveals that the Japanese consumer spends significantly more on golf apparel than a similar golfer in the U.S., with total Japanese golf apparel sales actually exceeding those in the U.S., in spite of the fact that there are only roughly 8 million golfers in Japan vs. 24+ million in the U.S. Additionally, while the market for forged irons in the U.S. has dwindled to less than 10%, the forged irons market in Japan is closer to 40%. This data point speaks directly to the differentiation in golfing style between the countries, with Japanese golfers trending toward a more traditional approach to playing the game.
“We are very proud of our collaboration with Golf Datatech to produce the first ever U.S./Japan World Golf Market Report,” said Takashi Mizukoshi, President of Yano Research Institute Ltd. “We hope this is a first big step in assessing the golf market trends of the world, especially those of developing countries where the future growth of golf is so important.”
“We were certain that the alliance between Golf Datatech and Yano, and this subsequent research study, would yield accurate and unbiased information on many of the industry’s key retail drivers, and it didn’t disappoint,” said Golf Datatech’s Tom Stine. “The significance of the report is vital to future equipment and apparel marketing for golf OEMs in the U.S. and Japan, and we fully anticipate that future reports will help to propel development of the global golf marketplace.”
Overall, data derived from the first U.S./Japan World Golf Market Report captures total golf sales between the two countries, as well as covering research on individual product categories, including drivers and fairway woods, hybrids, irons, putters, total clubs sales, golf balls, golf shoes, golf bags, golf gloves and apparel.
The cost of the report is $3000. To purchase go to Golf Datatech, LLC – 2014 World Golf Market Report – United States & Japan