We are now almost halfway through the 2017 season and the golf retail market is booming. However, at Crossover Technologies, we understand that it’s still a highly competitive marketplace. But we believe that by using a little industry insight, it is possible to gain an advantage over your competitors.
This month’s Market Review webinar, presented by Phil Barnard, Chairman of Crossover Technologies, demonstrated that it really has been a great first half of the season. The clear, dry weather is driving both sales and participation, with on course sales up by 12%. There has been a +20% increase on course ball unit volumes - a good indication of play levels going up. But how do you take advantage of the increased footfall through your Pro Shop? Putting a plan in place now will benefit your profit levels at year-end. We have put together 3 pointers to make the coming months count:
- Focus on clearing out stock in the second half of the season. That means now! An efficient way to increase turnover and clear stock is to increase the average basket size. Adding in a pair of gloves or set of tees to each sale is an easier way to sell more, rather than pushing more expensive stock to customers. Most retailers could increase their turnover by 10% by simply adding in those smaller items to customer’s baskets.
- Woods sales have been up, with an average sale price of £200 per wood, compared to last years ASP of £168 (mainly thanks to the top 2 sellers: M2 and Epic drivers). However, most golfers prefer to buy these in the earlier part of the season to get optimum use out of their purchase, so moving on into June, these sales are likely to drop. Due to this, it is important not to over-order woods and irons. Instead, focus on offering custom fit service when you do sell this equipment. It is a real help to customers and a growing service being offered by more and more Pro Shops.
- Good customer service is always crucial, but particularly at this time of year, now that we are in the biggest months of play. Customer loyalty is a key factor, both on and off course. Using our XPOS system means it is easy to offer promotions and discounts to grow your business and boost interest. Another great XPOS tip is to reward your customers with a points-based loyalty scheme. This gives customers an incentive for purchase, and for returning to your Pro Shop, although for optimum results it is important to employ good marketing and ensure your customer base understands the benefits on offer.
By keeping good stock management and following our pointers, you can ensure that the rest of the season is a success. Indeed, from his Golf Datatech data, Phil has predicted that the year will end up around +12 to 14% overall so the rest of the season should remain positive with plenty of opportunities to make 2017 your best season ever!
Keep up to date with us on Twitter for more news throughout the month of June.