High-tech golf wear, whether it’s the latest haute-tailored wetness- and wind-resistant outfit or trend-setting footwear and gloves, is redeeming an otherwise sluggish golf equipment market, according to The US Market for Golf Equipment, a new report from market research publisher Packaged Facts, a division of MarketResearch.com, a leading provider of industry-specific market research reports.
And it’s likely that such innovation will remain the most significant factor in driving sales of golf equipment to $6.7 billion by 2010, the report notes.
Packaged Facts projects that while sales of golf clubs, balls, and bags-once seen as major sales drivers-will continue to decline ‘as the popularity of the sport wanes’, golf wear, particularly apparel, will continue to grow steadily as changing demographics within the golf circuit cause a shift in fashion expectations. Apparel, footwear, and gloves reached $2 billion in 2005 and are expected to continue to climb to $2.4 billion by 2010.
The report states that the rising costs of club memberships and an industry shift toward high-priced, high-tech clubs and balls has caused significant fallout of both core and occasional players. However, marketers have not lost their focus on the potential expansion of the market through innovative cross-selling into less traditional demographic sectors.
“Thanks in part to the success of high profile professionals who are helping to reshape the image of golf in a positive and hip way, the appeal of golf to younger generations, women and more diverse ethnic groups is starting to evolve,” said Don Montuori, the publisher of Packaged Facts. “Golf fashion is no longer considered stale and stodgy, which is evident as the trend to accept fashionable golf wear as ‘business casual‘ continues to drive sales upwards.”
The U.S. Market for Golf Equipment provides a comprehensive look at the market size and composition, examines new product trends, offers competitive profiles of industry leaders, and looks at consumer trends and behaviors surrounding the game of golf. Priced at $3,000, this report can be purchased directly from Packaged Facts.
Packaged Facts www.PackagedFacts.com