Mid-Year Update: Equipment Sales
(🔉 Click to listen to audio version)
This is the second of three mid-year updates on the U.S. golf business. In our first update, we reported that golf course closures continue to taper as golf supply and demand move towards a healthy balance. This issue focuses on golf equipment sales.
[For over 50 years golf equipment manufacturers have been reporting to NGF their monthly sales in units and dollars. Sales figures are aggregated and reported back to participating manufacturers in what are called the NGF Industry Sales Reports. Domestic sales are reported on a monthly schedule while international sales reports are issued quarterly. These one-of-a-kind reports are available to participating manufacturers.]
Despite supply chain constraints, shipments from golf equipment manufacturers in 2022 have remained strong, matching last year’s impressive growth. Through June, golf club dollar shipments are up 10.2%, while golf balls are up 12.1%. Compared to a pre-pandemic base index (using 2019), club and ball sales are collectively up 49%. Certainly, some of the rise in dollars is attributable to pricing increases, as units are up 3% YTD versus year prior. This too is notable considering 2021 club and ball units outpaced pre-pandemic numbers by 18%.
That’s the story of what’s being sold in to the market. In terms of what’s selling through, retailers we have spoken to indicate generally that while equipment sales at mid-year are slightly behind last year, they sit significantly ahead of 2019 levels. This has resulted in a slight improvement in retail inventory and has retailers more able to satisfy customer demand.
For a more detailed mid-year look, NGF members can access our accompanying Spotlight story on the equipment market.
Next issue we’ll take a look at rounds played and see where we stand at mid-year on that important metric.
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