No. 9 Golf Datatech releases World golf Report on golf retail

The world’s golf retail market is nearly $14 billion strong, up 3%, according to a new study by Golf Datatech, LLC, and Yano Research Institute Ltd., two leading independent research and data firms.

The two companies updated a report that was first released in 2013, with the new version on the heels of golf’s shutdown in 2020 due to the COVID-19 pandemic.

“While the objective of the Worldwide Report has always been to look at long term trends in the sales of golf equipment and apparel, the impact of the coronavirus in 2020 obviously becomes a key focus of this year’s analysis” said John Krzynowek, partner, Golf Datatech, LLC.  “And despite the worldwide pandemic, golf participation and sales are higher, with 2020 global sales of equipment and apparel up 3%, at $13.93 billion. Consumer demand for golf equipment was higher in the majority of countries around the globe, however our data also shows a broad decline in apparel sales this year.”

The study shows that the largest markets are the United States, Japan, South Korea, Canada and United Kingdom, in that order. The US and Japan are responsible for about two-thirds of the world golf equipment market. However, Korean golfers spend more per capita on their golf equipment and apparel than any other country. Sweden was the fastest growing country, up over 50%.

“The alliance between Golf Datatech and Yano Research Institute continues to yield new data that speaks not only to the state of the worldwide equipment and apparel markets, but also details the impact of the global pandemic, while providing trends and insights to help companies better react to changes across golf marketplaces and adjust their business strategies,” said Tom Stine, partner, Golf Datatech, LLC.  “As with our previous editions, the 2021 World Golf Report continues to analyze all countries that have a significant golf footprint, providing a wealth of data, highlighted by key insights into the golf markets, unit sales estimates by country and product line, as well as countries with the most significant business growth and declines throughout the year.”

 

Add new comment

If you enjoyed this article and would like to sign up for a FREE digital subscription, click here!