This month’s topic and headline “flips the script” in that normally Pellucid raises an industry topic for discussion and then it’s mirrored by our friends in Jupiter a couple months later. The Good Dr. Joe however got the drop on me on this timely topic with an article published recently with the above title (hence, my take becomes Part Deux). While the various government economic agencies are debating “what the definition of is is” (clever Bill Clinton reference) as it relates to whether or not we’re actually in a recession, the economy is (modestly) shrinking, prices are going up and wage gains aren’t keeping up. In my humble opinion, “if it looks like a duck, walks like a duck and quacks like a duck, then it’s a duck.” Yes, in Jim’s binary world, we’re currently in a recession.
For those who’ve been watching closely, the optics and narratives of the NGF vs. Pellucid have been narrowing since shortly before COVID and that trend continues as I feel that Dr. Joe got several of the points “right” in his treatment of this topic but with one major exception/omission which I’ll cover in this issue’s narrative:
- Golf is a game of discretionary income and time; I’ll take a look at the potential upside/downside regarding factors that make us more or less vulnerable to recessionary forces
- How has golf traditionally fared during recessionary times? I’ll look at some numbers from the last recession (not COVID, that was a pandemic not an economic recession contrary to persistent media and analyst comparisons to the contrary) and offer a more quantitative view than good/bad
- NGF suggests that quality product and memorable experiences are your best defense; they (and the golf operations sector in general) have missed the critical third leg of the triad: Engagement
- Finally, I’ll outline how Golf Market Research Center 2.0 will enable operators to efficiently and effectively build customer relationships by understanding the metrics of their customer base (how many, their average frequency and spending), churn (new/lost/net bodies, rounds and revenue effect) and identifying new and lost customers for timely, personalized invitations
For our subscribers, read on to get the supporting facts and insights. For everyone else, you can get the rest of the story one of three ways:
- Subscribe to the Pellucid Publications Membership for $495/yr (most comprehensive coverage & detail) – Annual subscribers get access to the following:
- Outside the Ropes monthly digital newsletter
- Annual State of the Industry report portfolio (PowerPoint presentation, PDF commentary report, access to Jim/Stuart video of presentation)
- Geographic Weather Impact Tracking (US, 45 regions, 61 markets) or Cognilogic for Golf Playable Hours/Capacity Rounds for individual facilities
- National Consumer Franchise Health Scorecard (expanded data and tables underlying this issue’s summary figures)
- Subscribe to OtR, 12 monthly issues for $250/yr (or you can opt for monthly payments of $25, annual term) with a money-back guarantee if you’re not satisfied at any time during your subscription. Subscribers also get access to the historical archive of past issues (last two years) via the members-only section of the Pellucid website
- Subscribe to Golf Market Research Center (for operators wanting a combination of insights and action tools) – Here’s what’s included in the current “promo package” for either $500 annual or $450 for NGCOA members (or $45/mo or $41/mo respectively):
- Full suite of Performance Tracking reports – Market profile, comparative trends report and 7 KPI scorecard for any month and Year-to-Date for data provided by facility
- Facility-level Cognilogic historical weather impact portal/reports access, Golf Playable Hours & Capacity Rounds by day in current month, by months in current year and by day-of-week in current year with comparisons to Year Ago and the 10-Yr Norm
- Facility-level Foresight 60-day Capacity Rounds forecast, select forecast weather elements (hi/lo temp, daily precip etc.), variance to last year and long-term Normal. Not infallible but better than guessing or trying to collect all that yourself and organize it manually…
- Outside the Ropes monthly e-newsletter (consider this a sample of topics and treatments)
- State of the Industry Presentation, PowerPoint presentation slides of quantitative results and qualitative trends-to-watch as well access to 90-minute PGA Show presentation video
To learn more:
- Click here for 2-page program overview or
- Click here for 15-minute video demo (you do have to register to see video; don’t worry, you’re not signing up for anything)
- Click here to subscribe for a single facility
- Email me for multiple facilities or special situations
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