The Pellucid Perspective - November 2023 - 2

INDUSTRY
OUTLOOK
Golf and Economic Uncertainty:
Seniors to the rescue once again?
By Jim Koppenhaver
T
here are lots of things currently not to like in the US
macro-economic factors and trends but, as is usually the
case, it also depends on your particular situation and exposure
to the less-favorable elements. For example, if you're
someone who uses their car to drive 20-25K miles/yr, gas prices
likely significantly impact your budget and economic health. A
recent Wall Street Journal article titled " Seniors With Money
to Spend Buoy Consumer Activity " made me pause and think
about which lifestages (age, marital & family status primarily)
are currently advantaged vs. disadvantaged and how that may
impact golf in the next 2-3 years.
The gist of the Journal article is that a significant amount
of the current " consumer spending resiliency " is coming from
Seniors (defined as 65+ for the article and is likely a consensus
definition for a different lifestage than those in the 55-64
range). Given that I personally graduated to this lifestage in
'22, I also have some firsthand knowledge of what impacts this
2 The Pellucid PersPecTive
group's financial health and their outlook on consumption and
spending (more frugal and bordering on " stingy " at times, go see
A Man Called Otto for a visual example).
Let's go through a somewhat arbitrary listing of the economic
factors which impact family budgets, spending habits
and the feeling of financial security through the lens of an
equally semi-arbitrary Senior and how it likely differs from the
general population:
*
Interest rates - I've always wondered why the Fed
only really has one tool to fight inflation and that's the
indirect act of raising interest rates. Given that I don't
have the knowledge (or digital space) to tackle that
thorny issue, let's just say that when the Fed decides
to raise interest rates anybody who needs to borrow
capital (a loan or credit extension like...credit cards)
takes the hit. Now, let's think about Seniors and
November 2023
PHOTO BY GENE GALLIN ON UNSPLASH

The Pellucid Perspective - November 2023

Table of Contents for the Digital Edition of The Pellucid Perspective - November 2023

TOC
Seniors provide short-term economic buffer for golf
Golf ’s growing digital footprint; helpful or distraction for operators?
14 Activities, Transactions continue to lead with 7
Neutral October (a relief) pretty much cements (slightly) up year outcome
September Utilization holds steady, full year stays in “black”
San Francisco, at #3, only has to fear…itself
The Pellucid Perspective - November 2023 - TOC
The Pellucid Perspective - November 2023 - Seniors provide short-term economic buffer for golf
The Pellucid Perspective - November 2023 - 3
The Pellucid Perspective - November 2023 - 4
The Pellucid Perspective - November 2023 - 5
The Pellucid Perspective - November 2023 - 6
The Pellucid Perspective - November 2023 - Golf ’s growing digital footprint; helpful or distraction for operators?
The Pellucid Perspective - November 2023 - 8
The Pellucid Perspective - November 2023 - 9
The Pellucid Perspective - November 2023 - 14 Activities, Transactions continue to lead with 7
The Pellucid Perspective - November 2023 - 11
The Pellucid Perspective - November 2023 - Neutral October (a relief) pretty much cements (slightly) up year outcome
The Pellucid Perspective - November 2023 - 13
The Pellucid Perspective - November 2023 - September Utilization holds steady, full year stays in “black”
The Pellucid Perspective - November 2023 - 15
The Pellucid Perspective - November 2023 - San Francisco, at #3, only has to fear…itself
The Pellucid Perspective - November 2023 - 17
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