Purchasing clubs, clothes and even golf carts seem to be a fundamental block which helps the world of golf keep spinning, and a fine example will be my own father. My dad believes the most prudent way to react when you haven’t putted well for a while is to buy a new putter; perhaps not the same approach as Rory Mcilroy nevertheless my dad is helping the golf economy. Clothes as well have a huge role because fashion is a trend and will never finish, very much like a cycle that never ends, meaning for golf companies who produce clothing, as long as they’re relevant, they will be successful. The quality of products ranges hugely: a RLX waterproof may cost over £100 while you can purchase one from your local Sports Direct for much less. Fashion will be perpetually evolving and many people want the next big thing, or at least what’s big at that moment, so many shoppers will be going to other shops to buy their clothes meaning monetary expansion for other areas. A handful of clothes brands, including Greg Norman’s own range of clothing, earned $1.6 billion over 75% of the $2.1 billion clothing market in 2011.
Perhaps one of the biggest money makers in this area is golf clubs. In 2011 $3.1 billion alone was spent on clubs, and Titleist, which is the leader in golf ball manufacturing, has a company valuation of $1.2 billion; Nike also has a 7% stake in the golf manufacturing market and Taylormade have still got a huge chunk in the market despite having a 20% dip in sales. As for a bit of physics on the golf club. What has been the main source of why people have gained distance is due to the dramatic improvement in material and design. Going from wood to metal meant less energy is absorbed by the club-head, and instead more is provided back to the ball, Newton’s Third Law of Motion. Also the dimples, which contributes to the aerodynamics of the golf ball, are becoming more advanced that allowing the golf ball to gain more lift and distance. Weirdly enough drivers have a normal loft of 12 and below, however the perfect height to gain the most horizontal distance is 16 degrees, this is because normal calculations don’t account for quadratic drag produced by the ball which dramatically influences the carry of the golf ball.
Taylormade’s dip is most likely due to how they produce too many new series of clubs too frequently, for example the SLDR Drivers and the new RSI Irons. Consequently, people will wait for the next generation to be released knowing then they can purchase the current series much cheaper. The market is always going to demand for more forgiving clubs which go further, or add more distance, meaning technological advances must be rapid to keep up with the wants of the users. Finally golf carts. These are a sign of extreme wealth, for example the Oakley hovercraft will cost $58,000 and one humble club in America decided to buy five of them. Even though this sector may be exempt for an exclusive group, this part of the golf economy alone produces $625.2 million.
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