Spending on golf products has risen rapidly

New data from Barclaycard has revealed that spending on golf products grew at nearly 10 times the pace of spending growth in general in 2021.

The company, which processes nearly half of the UK’s credit and debit card transactions, has revealed that consumer card spending increased by 5.9 percent in 2021 compared with 2019, as online shopping, home experiences and outdoor pursuits boomed.

However, it was sports and outdoor retailers which saw one of the biggest surges of all, as the category rose 21.9 percent overall.

Yet even within that, Barclaycard singled out golf as having an exceptional year, stating that spending on golf clubs rose by more than 50 percent in those two years, about nine times higher than the general consumer card spending rate.

In general, online retail saw a rise of over 63 percent whereas in-store retail shopping rose by just 0.6 percent.

Very few categories saw a bigger growth in spending than golf, although online grocery spend surged by 97.4 percent and spending on takeaways and fast food rose by 62 percent in 2021.

Golf’s growth even outpaced home improvements and DIY, which was up by 26.2 percent.

Jose Carvalho, head of consumer products at Barclaycard, said: “2021 was another challenging year, as the pandemic continued to hamper the UK economy.

“However, categories such as local food retailers, takeaways and digital entertainment continued to do well, thanks to Brits’ demand for convenient, local, and at-home shopping experiences.

“In addition, with more time spent working from home, Brits continued to invest in their households, resulting in strong growth for both DIY and pet stores.

“As we look ahead to 2022, the economy will face fresh challenges from rising household bills, inflation, and uncertainty about the new Covid variant.

“Yet, as we’ve seen over the last two years, consumers and businesses are capable of adapting to and overcoming immense hardship and adversity – the resolve and determination of the British public to succeed is why I’m still optimistic about the year ahead and what it may bring.”