The Golfalot.com Price Index was relatively quiet in July as small falls across the majority of categories resulted in a fall of 0.5% as the strong performance of the year to date have been largely maintained.
The Golf Club sector fell by 0.5% to its lowest level since November 2012 as prices fell in all of the club categories bringing the average cost of a set to £924.76, still a healthy increase of 1.0% July 2012 as the underlying strength of the Sector continues to shine through. Drivers fell by 0.7% as a result of small price falls across a number of manufacturers and brands as retailers began to gear up for the anticipated new releases in the coming months, with news of new clubs such as the FT Optiforce from Callaway being keenly anticipated.
Putters were the biggest fallers in August (-1.9%) with some significant discounting across a number of models resulting in the categories lowest level since the turn of the year and Wedges also fell by 1.2% as retailers compete strongly for golfers attention in the short game clubs. Fairway Woods (-0.5%), Utility Clubs (-0.2%) and Irons (-0.2%) all showed small losses but with all three categories up over the last 12 months long term strength remains. With news of exciting new releases such as the range of 714 Irons from Titleist this performance trend is something that we are confident will continue throughout the rest of 2013.
The Golf Accessories sector also fell in July (-0.3%) following six months of positive growth with the average cost of accessories now totalling £429.11 an increase over the last 12 months of 0.6%. Golf Balls were the only category across the whole Index to show positive growth this month, up 0.1%, as last months discounting abated, particularly in the premium golf ball market. Golf Bags (-0.4%), Golf Trolleys (-0.3%) and Golf Shoes (-0.4%) all dropped slightly but in line with the long term trend in the Accessories sector all have increased over the past 12 months.
“With the country on a sporting high following Andy Murray’s win at Wimbledon we are hoping for summer to continue to bring excellent golfing weather which should see the golf industry move forward confidently as manufacturers prepare to unveil the equipment that will drive the market over the next 6 months, “ said Golfalot’s Andrew Noyce.
Golfalot.com Price Index http://www.golfalot.com/News/PriceIndex.aspx