After enjoying a strong summer so far the Golfalot.com Price Index witnessed a small dip in August with an overall decrease of -1.2%. After a period of sustained growth August marks the first overall drop since February and the largest fall in what has been a strong 2010.
The Golf Clubs Sector suffered an overall drop of -2.6% as retailers reduced prices in preparation for the influx of new stock that the autumn will bring. A fall of -4.8% gave the Putters Category the largest decrease of all the categories although consumers will certainly welcome the reductions on Callaway Odyssey and Ping putters that fuelled the drop.
The Irons Category fell by -4.1% as retailers offered a reductions on a number of brands including irons sets from Adams, Callaway, Cobra, MacGregor and Nike to give bargain hunting consumers a wide choice.
The Wedges Category recorded a loss of -3.1% with the summer sales extending to Ping, Srixon and TaylorMade models. A loss of -2.9% in the Drivers Category was a disappointing follow up to July’s big gains with reductions on Cobra and Nike drivers proving the catalyst for August’s fall.
It wasn’t all bad news in the Golf Clubs Sector as the lifting of reductions on some Cleveland and TaylorMade models provided growth of 3.9% for Utility Clubs and gave the category its highest ever average price since the Golfalot.com Price Index began in October 2004. A rise of 1.1% allowed the Fairway Woods Category to recover from July’s fall and reach its highest average price of 2010.
The Accessories Sector enjoyed overall growth of 1.6% thanks to a strong performance from the Golf Trolleys Sector where the reversal of reductions across the PowaKaddy range provided the driving force behind a rise of 3.9%.
Elsewhere in the Accessories Sector the Golf Bags Category provided the biggest falls with a drop of -1.1% across a wide range of manufacturers including Cobra, Hill Billy and Ogio.
The Golf Shoes Category fell by -0.8% to continue its mixed 2010 with two consecutive months of falls following three months of growth. The Golf Balls Category fell by -0.5% although the average price remains higher than at any time since 2006.
August marks the largest fall for the Golfalot.com Price Index in what has been a very strong 2010. That 2009 witnessed a similar August drop suggests we can remain optimistic that this simply marks the start of retailers clearing the decks for the influx of new products that lies ahead in the autumn and winter.
With Ryder Cup fever set to extend interest in the golfing season we can look forward to the rest of the year with some confidence.