Golf Datatech, LLC, and Yano Research Institute Ltd., the golf industry’s two leading independent research and data firms, have introduced the World Golf Report 2017. The industry’s only global golf retail study, 2017 marks the 2nd-edition of the report which provides an in-depth global retail market summary based upon geography, size and economic significance of the $8.05 billion worldwide golf equipment market and the $4.50 billion golf apparel market.
In 2015 Golf Datatech and Yano Research collaborated to introduce the golf industry’s first-ever worldwide market report, a benchmark study designed to capture the true size and scope of the global golf retail market. Now in 2017, the companies have updated and expanded the report, featuring a broader scope of data points while capturing more complete golf retail sales from around the globe.
“For the 2017 World Golf Report, we’ve explored more countries in detail and expanded the categories tracked, providing an even greater snapshot of the worldwide golf equipment and apparel market,” explained John Krzynowek, a partner at Golf Datatech. “This report represents tremendous progress in market research that is available to the golf industry and its equipment and apparel providers. And, beyond the greater scope and detail, we’re now providing unit sales estimates by country and product line in equipment for the first time”
Among its findings, the 2017 World Golf Report captures changes in the list of the Top Ten golf markets in the world over the past 3 years, while featuring insights into which countries’ golfers spend the most on golf equipment and apparel. Other key findings of the report include:
- The Top 10 World Golf Markets are still led by: #1 United States; #2 Japan; #3 South Korea; #4 United Kingdom and #5 Canada but from there the list has changed;
- The US and Japan control over 66% of the world golf equipment market;
- Korean golfers spend more per capita on their golf equipment and apparel than any other country.
Adds Krzynowek, “A quick look at the worldwide data indicates there was a considerable decline in total worldwide sales measured in US dollars in 2015, but a more thorough analysis shows that the slowing of many of the world’s economies and currency fluctuations played an integral role in these perceived sales declines. While in 2016 the US sales lagged and some other countries offset the US slowdown with positive contributions of their own. It is a complex global market out there today, and without understanding the broader worldwide picture it is easy to be misinformed about how the total golf market is performing”
“Yano and Golf Datatech have established a one-of-a-kind report that continues to yield valuable data in defining the world golf market, while capturing the size and scope of the golf business in individual countries/regions,” said Takashi Mizukoshi, President of Yano Research Institute Ltd. “We now have a firm understanding of the golf business on a global scale, which allows us to speak to market growth, fluctuations and trends today, and into the future. As a result, this report has become a tremendous resource for global golf companies both large and small.”
Mizukoshi adds, “The 2020 Olympic Games will be held in Tokyo, and It will be a big growth opportunity for the Japanese golf market as well as the golf market in the world. We hope that the golf industry and its participants use our report as a growth compass. Yano Research Institute and Golf Datatech will continue to strengthen our cooperative relationship for the golf market development of the world.”
“Golf Datatech and Yano Research are proud to take the lead on providing worldwide analysis of golf’s growing markets,” said Golf Datatech Partner, Tom Stine. “Golf’s growth can be attributed to many influences besides straight retail purchases. For example, the effects of having golf in the modern day Olympics won’t begin to be felt until five or ten years down the road. Through the World Golf Report, we will be able to track those effects.”
Stine adds, “As golf expands worldwide, this report will act as a roadmap for success. You have to know where you’ve been in order to know where you are going.”
For more information on the World Golf Report 2017, contact Golf Datatech at email@example.com or by calling 888-944-4116.