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 2021, the industry’s only global golf retail study. The 2021 report, which marks the 5th overall edition, provides an in-depth global retail market summary based upon geography, size and economic significance of the nearly $14 Billion golf equipment and apparel market.
Specific to the global pandemic, severe government restrictions on socializing, travel, and life in general, caused some of the major golf markets to decline by 15%-50% on a YTD basis thru May, with sales in some countries falling by more than 80% in a single month.
“It was a long, hard, painful first half of 2020, but the game, and the business of golf, quickly gained momentum during the late spring/early summer months,” said Krzynowek. “Golf courses were soon full and rounds played soared, including an influx of newcomers to the game, while many others who used to play decided to come back again. As a result, sales of golf equipment exploded, and even those countries that were severely impacted by the early 2020 shutdown enjoyed record months during the summer and continue to trend positively.”
Top-level findings of the 2021 World Golf Report include the following:
1. Top 5 World Golf Markets: #1 United States; #2 Japan; #3 South Korea; #4 Canada and #5 United Kingdom
2. US and Japan responsible for about 2/3 of the world golf equipment market;
3. Korean golfers spend more per capita on their golf equipment and apparel than any other country.
4. Sweden was the fastest growing country, up over 50%.
For more information on World Golf Report 2021, contact Golf Datatech at info@golfdatatech.com or by calling 888-944-4116.
