MZ generation leading the golf trend

Minjun Son

2021. 10. 19

Graphic source: Business Watch

                  In the past, golf was considered one of the most barrier-to-entry sports. Golf had a strong image as a sport only for the middle-aged, especially the wealthy. However, the image of golf now has changed 180 degrees from the past, and the number of MZ generation golfers has increased significantly and has become the hottest sport in Korea.

                  The MZ generation, who has recently emerged as a leading player in society, is now leading a new consumption trend and culture. Numerous companies are carrying out various marketing activities to capture them, and the golf industry, which was led by the 4050 generation, is also starting to keep pace with this. It proves the social influence of the MZ generation across all fields. It is necessary to take a brief look at their consumption psychology.

             They are familiar with the digital environment and want the latest trends and a unique experience that is not the same as others. Also, there is no objection to non-face-to-face relationships and there is no hesitation in pursuing various encounters. Furthermore, they have high self-confidence and self-esteem. Since they are also driven by ‘value-based consumption’, ethical values are considered as well as cost-effectiveness and convenience.

             According to the ‘KB Self-Employment Analysis Report’ published by the KB Management Research Institute on the 6th, the number of golfers in Korea last year was about 5.15 million. This is an increase of about 460,000 compared to 2019. What is remarkable is that the MZ generation golfers have increased significantly. 65% of new golfers are in their 20s and 40s.

             The reason the MZ generation fell into golf is that overseas travel has become difficult due to COVID-19. It is analyzed that the focus has shifted to golf as outdoor activities are restricted. In addition, as the number of screen golf courses has increased, the barriers to golf entry have been lowered, which is considered one of the reasons why the MZ generation is flocking to golf.

             The industry predicts that the golf market centered on the MZ generation will grow even more. In particular, it is analyzed that unlike the older generation, who enjoyed golf for business or friendship, the MZ generation uses golf as a channel to reveal their individuality beyond a hobby.

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