A recent R&A study (“A Satellite Account for Golf in the UK; was published in March 2016) found that in 2014 British golfers spent £939m on golf equipment and clothing and in total the consumer spending on golf in the UK was £4.303 billion. Golf Datatech wrote that in 2014, the worldwide golf equipment market was worth of $8.7 Billion.
How is PING performing in the UK golf equipment market?
After less than a month on the UK market, PING G drivers, fairway woods, hybrids and irons were the number one sellers in their respective categories for February in the UK, according to Golf Datatech LLC, which tracks golf equipment sell-through data for the United Kingdom.
In addition, PING sustained its position in the 2016 UK market as the #1 hardware brand, having led in the all club revenue share for the previous two years. I can only wish them that it will not be just an early flare-up. At the same time, IBISWorld’s Sporting Goods Manufacturing market research report predicts a -1.1% decline globally of sporting goods.
PING Chairman & CEO, John A. Solheim said “…custom-fitting makes a huge difference in helping golfers play better and get the most out of their ability. The early success of the new G products is evidence that golfers are being properly fitted, comparing their results and seeing measurable improvements in their games.”