March saw the continuation of a cold, wet Spring across our northern markets, which has not helped equipment sales. An increase in precipitation and lower temperatures created touch circumstances, limited play and likely dampened demand for equipment.
US March 2022 Total Golf Equipment Sales
- On-Off Course March ’22 vs. ’21: Dollars -8.4%
- On-Off Course March ’22 YTD vs. ’21 YTD: -1.7%
Notably, equipment sales for the month of March were down 8.4% vs. same month 2021, with every category falling except for gloves.
It’s worth noting that March of 2021 was the largest March in history for golf equipment sales, surpassing the previous largest March (2018) by 40%. While March 2022 saw a decrease in sales over 8% vs. last year, they remain 34% ahead of 2019, and this March was the second largest March in history.
On the data from equipment sales last month, Golf Datatech Co-Founder John Kryznowek commented, “March of 2022 can be viewed as either a “glass half full” or as a “glass half empty”. For the optimist, this March is the second highest March in history and is well ahead of pre-pandemic levels, even though in some product categories inventories remain tight. Overall, trade inventories of equipment are moving toward normalization.
“For the pessimist, the 8% decline is the most significant slowdown since the big drops in March thru May of 2020 when much of retail world was shut down and might suggest the golf equipment business is stabilizing or about to decline”.