In a millennial-inspired participation economy, brands need to start focusing on core social culture to tap into the Millennial anxieties around golf – four plus hours of game time, difficult to play, expensive and more.
Key industry stakeholders are attempting to revitalize the sport through innovation and new models that align with a Millennial Mindset®. According to research conducted by the National Golf Foundation, over the past 20 years there has been a 30 percent decrease in golf participation among the 18 to 34-year-old age group. During that period, unemployment in the U.S. among younger consumers has increased by nearly 15 percent. The current economic environment has improved but the stable economy has not yielded a meaningful increase in the demand for golf.
In our latest joint report with the National Golf Foundation, Golf and the Millennial Generation, we take a deep dive into five core subject areas that will help brands drive greater participation and loyalty among the millennial audience:
– Millennial golf participation: Changing demographics, less recreational time and financial challenges contribute greatly to the decline of Gen Y participation, but these factors do not account for the entire drop.
– Golf’s brand health: Millennial golfers tend to align with older generations on the positive perceptions of golf, but they are more critical about the game’s culture.
– Millennial golfer segments: There are three distinct segments of millennial golfers, each with differences in attitudinal and perceptual traits.
– Latent demand: With more than 12 million millennial non-golfers interested in playing the game, there is a deep well of prospects to activate.
– The way forward: NGF identified ten key considerations for golf brands and companies to keep in mind as golf businesses must chart a way forward with millennials.
Click here to learn more and download our report!