Hi-tech golfwear will drive golf equipment sales to $6.7 billion by 2010, according to a new market research report.
In the report "The U.S. Market for Golf Equipment," market research publisher Packaged Facts, a division of MarketResearch.com, projected that the popularity of sport and golfwear particularly apparel, will continue to grow, though sales of golf clubs, balls, and bags continue to decline.
Sales for apparel, footwear, and gloves reached some $2 billion in 2005 and is expected to continue to climb to $2.4 billion by 2010, the report found.
"Golf fashion is no longer considered stale and stodgy, which is evident as the trend to accept fashionable golfwear as 'business casual' continues to drive sales upwards," said Don Montuori, the publisher of Packaged Facts.
The golfing world experienced a fall out of both core and occasional players, due to rising costs of club memberships and the industry's shift toward high-rising, high-tech clubs and balls, according to the report, but says innovative cross-selling could garner less traditional golf-goers.
"Thanks in part to the success of high profile professionals who are helping to reshape the image of golf in a positive and hip way, the appeal of golf to younger generations, women, and more diverse ethnic groups is starting to evolve," Montuori said.
Copyright 2006 by United Press International
Explore further: Secretive billionaire reveals how he toppled Apple in China