"Is the Golf Craze Fading?"... 40,000 Used Items Flood the Market in One Month

Decrease in Related Transactions on Online Platforms like Bungaejangter and Department Stores Compared to Last Year
Golf Population Decline Analyzed Due to Economic Downturn, High Costs, and Demand Weakening Factors

Lee Yujin (33, female), an office worker living in Busan, recently posted a full set of golf clubs for urgent sale on an online secondhand trading site. She decided to quit golf due to the worsening economic situation. Two years ago, Lee borrowed 200 million won through a mortgage loan to purchase an apartment in Seoul. Currently, she spends over 1 million won per month just on interest. Adding the round costs of 300,000 to 400,000 won each time she goes out, the total monthly expense approaches 1.5 million won. Lee expressed regret, saying, "With a regular office worker's salary, it is impossible to maintain my lifestyle and enjoy golf as a hobby during this period," and added, "I am selling clubs that are in top condition and barely used at prices much cheaper than online market rates."

The golf fever that surged after COVID-19 is now fading. Factors cited include the economic downturn due to interest rate hikes, considerable usage fees, and weakening demand.

According to secondhand trading platforms like Bungaejangter on the 22nd, there are currently about 100,000 listings under the keyword 'golf clubs.' Golf apparel listings include approximately 45,000 women's products and about 30,000 men's products. A Bungaejangter representative stated, "In the past month alone, over 42,000 golf-related items have flooded the market, and in three months, about 123,000 items have been traded secondhand."

Although the proportion of secondhand golf-related goods traded until November this year increased by 90% compared to the previous year, the growth rate has slowed compared to before, indicating a market downturn. Last year, when golf popularity soared, secondhand goods trading grew by 196% year-on-year. Notably, the participation rate of golf beginners under 25 increased by 760%, showing strong interest from the younger generation.

Active trading of goods in the secondhand market is generally seen as a sign of a healthy industry, but the overall industry view is that the once vibrant golf market has slowed its growth due to the impact of rising prices. Seo Cheonbeom, director of the Korea Leisure Industry Research Institute, pointed out, "Although the golf population has greatly increased, golf is a high-cost sport where each person pays an average of over 300,000 won per round, which acts as a barrier to popularizing golf."

The sales trends of golf goods and apparel in department stores also reflect a different market atmosphere compared to last year. Hyundai Department Store's golf-related sales growth rate as of November this year was 38.8% compared to the same period last year, nearly half of last year's 65.5%. Shinsegae Department Store's golf wear sales increased by 37.2% year-on-year, which is a decrease compared to last year's growth rate of 56.3%.

However, some analyses suggest it is premature to conclude that the cooling of golf goods sales signals the end of the golf boom. Hyundai Department Store currently operates about 60 golf brands to meet golfers' demand. The number of brands has nearly doubled compared to 2020. The Pangyo branch also operates a golf specialty zone with 27 golf brands. A Hyundai Department Store representative said, "Premium golf brands such as G/FORE, PXG, and Malbon Golf are still showing strong sales growth," and analyzed, "There is a polarization of demand depending on the golf brand."

This content was produced with the assistance of AI translation services.