The Golfalot.com Price Index rose a healthy 0.5% in August as new entrants into the Golf Clubs Sector contributed to drive growth that has totalled 1% over the last 12 months.
The Golf Clubs Sector was responsible for this month’s positive results as four of the six categories grew by over 1% with interesting new entrants to the Index providing fresh impetus as manufacturers unveil their hardware for the second half of the year. Drivers turned around a three month run of price falls with growth of 1.6% thanks to the high profile entrant of the new FT Optiforce driver from Callaway Golf that offers adjustability and a higher launch than the previous X Hot model. Its stable mate the FT Optiforce Fairway Wood also entered the Index to drive Fairway Woods forwards for the first time since April with the average price up 1.4% to £79.98.
Wedges have endured a tough time over the last 12 months with the average price falling by 1.2% so growth in August of 1.5% represents a welcome upturn as the Wedge choice of this year’s Champion Golfer Phil Mickelson, the Callaway Mack Daddy 2, entered the Index.
An interesting development in the short game area is the increasing number of high end putters entering the market as golfers recognise the importance of the flat stick and appear to be prepared to pay premium prices to help lower scores. New entrants in the shape of the Callaway Odyssey Pro Type iX series (£300) and the Scotty Cameron Futura X from Titleist (£240) drove an increase of 2.4% as the average price of a putter settled at a record £91.20.
Utility Clubs (-0.5%) and Irons (-0.1%) both recorded small falls as a result of both competition and discounting ahead of the new 2013 releases.
The Golf Accessories Sector fell marginally this month, registering a drop of -0.1%, however this has made little inroads into the overall growth experienced since the beginning of the year. Golf Bags (-0.2%) and Golf Shoes (-0.6%) fell as the Accessories Sector witnessed price competition across the board with Golf Balls (+0.1%) and Golf Trolleys (+0.1%) registering small gains as discounts seen in July eased and prices on a number of products returned to previous levels.
Looking forward we can expect the Golfalot.com Price Index to continue moving forward in the coming months as we witness more innovative products such as the TaylorMade SLDR driver, the Adams Tight Lies fairway woods and the FI Impact Shoe from Nike enter the market to provide a boost to the Industry as we reach the latter part of the year.
Golfalot Price Index Graphs & Previous Reports