New Report on Dynamics of Golf Equipment Market
Released this month, the fourth installment of the Assessing the Pyramid study identifies, evaluates, analyzes and develops a deeper understanding of the impact and influence various sub-segments of the golf population have on the dissemination of information, trial and subsequent purchase of golf equipment.
While the Pyramid of Influence still holds relevance in today’s golf equipment market, its impact is not as strong as it once was. The trickle-down effect from tour players to club pros to amateur players is less direct.
Key findings include:
- Expenditures on Golf Equipment: Spending on golf equipment has increased significantly since 2019 across all handicap segments, with lower handicaps spending the most. However, the average selling prices of equipment have risen sharply, leading golfers to keep their clubs longer.
- Brand Loyalty: Brand loyalty has decreased for golf clubs and footwear but increased for golf balls. Lower handicaps are generally more brand loyal across all product categories.
- Influence of Tour Pros: Technologies used on tour are believed to help the average player, and many golfers follow what equipment is used by tour players, especially on the PGA Tour. However, the influence of tour players’ success on equipment purchases is more significant among lower handicaps.
- Custom Fitting: Custom fitting has become a major factor in equipment purchases, particularly among better players. Custom-Fitting Specialists are now a significant channel for purchasing premium golf clubs.
- Media and Information Gathering: Online resources and social media have become critical for gathering information about golf equipment. Traditional print media still plays a role but has declined in influence.
- Sales Channels: There has been a shift towards Custom Fitting Specialists and online purchases, with traditional Off Course Specialty Stores under pressure. Direct-to-consumer sales are growing but still represent a small part of the market.
- Prepurchase Behaviors: Golfers typically research online, compare prices, and evaluate multiple products before making a purchase. Custom fitting has seen a significant increase in importance over the past five years.
The dynamics of the golf equipment market have evolved. While the Pyramid of Influence continues to have some impact, custom fitting, online information, and changing brand loyalties now play significant roles.
For more information on this study visit our Consumer Insights area. To purchase, please email info@golf-datatech.com