The Pellucid Perspective - May 2022 - 7
and promotions as well as getting " clubs in hands " for millions of
non-golfers as a golfertainment experience, but that the evidence
of incrementality to golf operations and/or consumer equipment
manufacturers is scant and the logical likelihood of Topgolf encouraging
their golfers to try the actual sport of golf, or even go
out and buy their own equipment is low.
As time goes on and I watch the Topgolf narrative unfold in
our industry, two things increasingly suggest to me that the touted
benefits to the core industries of golf (green grass operations and
consumer equipment sales) are illusory and transitory (to borrow
Jerome Powell's phrase, let's hope I'm more right on this than he
was in using that term to describe consumer inflation). First, the
only quantitative research on the conversion and economic value
of Topgolf customers to playing golf and/or equipment spending
have been a joint Topgolf/NGF production and the published
results carefully parsed to avoid either of these critical datapoints
either as static values (i.e. how many Topgolf guests have taken
up golf and to what extent?) or any type of progression as Topgolf
has expanded (i.e. is this benefit to the industry expanding or
declining?). Second, every communication I've gotten from Topgolf
has suggested a new (predictable) way that I could visit more
often, stay longer or increase my loyalty to that venue among the
many entertainment and recreational options available to me.
As Exhibit F (I'm sparing you the rundown of previous communications
supporting Exhibits A-E), the below arrived in my
Inbox last week to sign up for my...Topgolf season pass:
TOPGOLF promotional email I received.
Advanced solutions in one software
COMPLETE CONTROL,
ENHANCED EFFICIENCY
Manage everything, from the tee sheet to memberships, restaurants,
maintenance and more with the most powerful cloud-based system
available - G1.
G1 BY THE NUMBERS
courses worldwide using G1
1K+
$950MM
in G1 orders in 2021
25MM
G1 orders placed in 2021
The G1 product has been an excellent asset to our company, and
we're excited about its potential to take us to the next level.
Josh Brunet, general manager
Eagle Lakes Golf Club in Naples. Fl
Visit business.golfnow.com
to learn more.
www.PellucidcorP.com
The Pellucid PersPecTive
7
https://business.golfnow.com/operations/g1-by-golfnow/
http://www.PellucidcorP.com
The Pellucid Perspective - May 2022
Table of Contents for the Digital Edition of The Pellucid Perspective - May 2022
TOC
Dynamic Pricing; trickier tracking ahead
Topgolf incrementality illusion fading
Transactions dominate the industry activities storyline
Ugly April (GPH -19%) further dents rough season start
March Utilization shows resilience at +3 pts, 60%
Phoenix, #3 ranked and a threat to move up in ’21
The Pellucid Perspective - May 2022 - TOC
The Pellucid Perspective - May 2022 - Dynamic Pricing; trickier tracking ahead
The Pellucid Perspective - May 2022 - 3
The Pellucid Perspective - May 2022 - 4
The Pellucid Perspective - May 2022 - 5
The Pellucid Perspective - May 2022 - Topgolf incrementality illusion fading
The Pellucid Perspective - May 2022 - 7
The Pellucid Perspective - May 2022 - 8
The Pellucid Perspective - May 2022 - 9
The Pellucid Perspective - May 2022 - Transactions dominate the industry activities storyline
The Pellucid Perspective - May 2022 - 11
The Pellucid Perspective - May 2022 - 12
The Pellucid Perspective - May 2022 - 13
The Pellucid Perspective - May 2022 - Ugly April (GPH -19%) further dents rough season start
The Pellucid Perspective - May 2022 - 15
The Pellucid Perspective - May 2022 - March Utilization shows resilience at +3 pts, 60%
The Pellucid Perspective - May 2022 - 17
The Pellucid Perspective - May 2022 - Phoenix, #3 ranked and a threat to move up in ’21
The Pellucid Perspective - May 2022 - 19
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