The Golfalot.com Price Index a enjoyed a stable month as manufacturers, retailers and consumers continued to wait for the rush of new stock that will be launched over the coming weeks and months. The index fell by just over a half of one per cent, a marginal drop as the golf market continues to show its resilience in a testing economic climate.
Overall the clubs sector remained static although Wedges were the best performing category as they recovered from last month’s slump to post growth of 4.4%. This strong showing was thanks to the removal of some of the reductions brought in last month and the return of some higher end models like the Ping Tour W to the index.
The biggest drop in the clubs sector came from Fairway Woods with a fall of some 2.6%. This was fuelled by reductions on certain models as retailers clear the decks for the influx of new stock. The Ping G10 range, for example, saw a number of reductions as the shops wait for the arrival of the newly released Ping G15 woods. The Drivers sector fell by 2% for similar reasons with some models dropping from the index and reductions across a range of manufacturers including Adams, Callaway, MD Golf and Ping.
Elsewhere the clubs sector displayed a resoluteness as Putters, Irons and Utility Clubs all held their positions from last month providing a strong foundation for the new equipment of the Autumn.
In the accessories sector the position was less positive with only the ever consistent Golf Trolleys remaining static and the sector as a whole dropping by 1.8%.
The biggest fall came in the Golf Shoe sector where a drop of 4.6% saw reductions for a wide range of manufacturers including Bite, Callaway, Ecco, Footjoy, Oakley and Stuburt. Golf Balls also saw a number of reductions to fall by 4.3% with models from both Callaway and Nike seeing reductions.
Golf Bags completed the unwanted hat-trick in the accessories sector falling by 3.2% with a number of quite small reductions on mid priced bags from manufacturers such as Ben Hogan, Cleveland and Cobra.
After both sectors fell in August the September Golfalot.com Price Index is once again proof of the ability of the golfing markets to bounce back and their ongoing ability to stand up to external pressures of the economy. With top manufacturers prioritising product launches over the coming months, August and September are months for consolidation in the Price Index as new models and stock are anticipated.
With that achieved retailers will be quietly confident of a welcome and deserved boost as golfers use the Autumn to refill their bags with the new and improved equipment offered by the manufacturers.