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American golfers are back on the links, if equipment sales data are any indicator.
PGA Tour Superstore is a part of the Blank Family of Businesses, which includes the Atlanta Falcons, Atlanta United and the Mercedes-Benz Stadium. The company's chairman, Arthur M. Blank, co-founded The Home Depot
Following shakeups in the U.S. golf retail business over the past few years, the market has not only recovered but even experienced a significant uptick in sales over these past 12 months, according to data from research firm The NPD Group. Golf sales in the mass and sporting-goods retail space generated some $2.6 billion and grew by 8 percent over the 12 months ended November 2018, after facing declines the year prior, according to the firm.
“The macro environment for golf has been in a turbulent state, fueled by Golfsmith’s bankruptcy, major brands cutting back on their golf business, and courses closing. But today we’re starting to see normalization in the market as those deep holes are now being filled,” said Matt Powell, vice president and senior industry adviser of sports at NPD Group. “Major sports retailers are now investing in golf to pick up some of the business, and brands are also placing emphasis on the category to spur innovation.”
Irvine, Calif.
Golf retailer PGA Tour Superstore, for its part, announced that it will open at least six new stores this year as it pursues expansion of its brick-and-mortar presence by roughly 50 percent over the next three years. The company currently operates 35 stores across 15 U.S. states. PGA Tour Superstore also reported an overall sales gain of 14 percent last year, on the strength of comp-store sales and double-digit e-commerce growth.
"We have tripled our store count across the United States over the last several years and will continue to be opportunistic and aggressively invest in our brick-and-mortar business," said President and CEO Dick Sullivan. "Our innovative experiential-retail model and our focus on integrating and investing in our e-commerce business for a solid omni-channel presence is resonating with our customers."
All golf product categories grew in the past 12 months. Golf clubs, which account for about 50 percent of the category's total market sales, grew by 7 percent. Sales of golf balls were up too (6 percent), as were gloves (7 percent), accessories (21 percent) and training aids (13 percent). An overall increase in the market’s average selling price — 8 percent — further confirms that consumers are spending on the sport, says Powell.
Callaway Golf, Titleist and Wilson were the fastest-growing golf brands among the top 10 last year, and they also fell into the top-five ranks. Also among the top five were TaylorMade and Ping.
“With thousands of baby boomers retiring every day, there is great opportunity to introduce new retirees to golf,” said Powell. “While systemic issues remain, I expect the golf business will be much better for the near term.”
By Brannon Boswell
Executive Editor, Commerce + Communities Today