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Will inflation hinder golf’s growth next year? – Golf News Now – GOLF Sports

As explained in This column Last week, the golf industry entered 2021 and wondered if it could maintain or surpass the popularity it enjoyed in the first year of the COVID-19 pandemic.

Early signs from several sources are that the game continued to be popular in 2021, when the round was the same as or better than the previous year.

That’s certainly good news, but the questions the industry was thinking about earlier this year may be even more relevant as we’re preparing for 2022.

Bank of Canada Q3 Business Outlook Survey Almost half of the companies that participated on Monday expect inflation to exceed 3% over the next two years.

The higher costs of doing business outweigh the rising costs of products for the food and beverage sector. Anyone who has been to pumps lately will prove that the cost of gas needed for the machinery needed for the day-to-day operation of a golf course is rising.

Rising fuel costs will affect the transportation of goods and will also be affected by supply chain disruptions.

Attracting and retaining workers during the current labor shortage, where people are seeking better time and wages, can also increase the cost of doing business. Many of the companies that participated in the Bank of Canada survey intend to pass on increased labor costs and other costs to their customers.

A recent GNN poll asked readers if inflation would inevitably require the golf business they work for to raise prices entirely towards 2022. The overwhelming majority, or 87 percent, answered “yes.”

How many important questions are there?

We have already heard complaints on social media about the recent price increases in the golf business. On the other hand, many companies expect consumers to spend more than next year instead of saving as they did in the early days of the pandemic, but they too will have to deal with inflation.

Do they understand the golf business that raises prices due to inflation, or do they consider it a gouge and play less with more recreational and entertainment options?

The answer hasn’t come yet, but the question is even more appropriate than it was a year ago.

– GOLF Sports

Will inflation hinder golf’s growth next year? – Golf News Now

https://golfnewsnow.ca/blog/will-inflation-get-in-the-way-of-golfs-growth-next-year/ Will inflation hinder golf’s growth next year? – Golf News Now

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