US February 2023 Total Market (On-Off Course)
On-Off Course February ’23 vs ’22: Dollars +14.0%
On-Off Course February ’23 vs ’19: Dollars +50.4%
On-Off Course YTD ’23 vs ’22: Dollars +16.9%
On-Off Course YTD ’23 vs ’19: Dollars +49.4%
The golf apparel winners and losers followed gender lines in February, with Men’s apparel up markedly while Women’s shirts and bottoms were lower, though Women’s tops were up substantially.
It’s important to note that January/February typically represent less than 10% of total sales annually, so as such they aren’t necessarily a predictor of full year success or failure. Due to the highly seasonal nature of the game of golf, the northern tier of courses are closed during the winter months, and with pro shops being by far the largest sales channel for apparel, Q1 results can be highly influenced by local market circumstances, such as weather.
On the latest figures, GDT co-founder John Kryznowek commented, “Golf apparel sales continue to be healthy thru the first two months of 2023, up almost 17% compared to ’22 and up over 49% vs. pre pandemic levels. While the golf apparel industry is very healthy, we do see some potential problems ahead, as inventories have increased faster than sales in many categories and any slowdown in turnover will result in a product glut, and ultimately markdowns that negatively impact both sales and profitability.”