$50 increase on PING equipment coming on 9/7

[Grand Stranded 2,887]

Applies to the 425 line, and wait for it… the 410 line also.

I can’t remember an OEM ever raising the prices on a current release, much less an old one before this.

Not a good look for PING, but I’m wondering if they’re the outlier here or simply the first to do this. We all know what’s going on with supply chains and material shortages, so who knows?

I’m guessing we’re in for a case of sticker shock with the ‘22 release cycles.

[goaliedad30 174]

My son is still waiting on his 425 irons ordered in June. I'll be pissed if they try to charge more when they're delivered through our pro shop!

[Shankster 31,707]

Yep.  Let’s Jack the prices up even more.  
 

ProV1’s will be $70 a box this time next year. 

[fixyurdivot 16,583]

1 hour ago, Grand Stranded said:

Applies to the 425 line, and wait for it… the 410 line also.

I can’t remember an OEM ever raising the prices on a current release, much less an old one before this.

Not a good look for PING, but I’m wondering if they’re the outlier here or simply the first to do this. We all know what’s going on with supply chains and material shortages, so who knows?

I’m guessing we’re in for a case of sticker shock with the ‘22 release cycles.

Interesting decision and I'm surprised they would opt to raise prices on current production.  I think you are correct about 2022 sticker shock but, interestingly, PXG is having sales on their product.  Perhaps PING's supply chain team made some bad strategic moves and/or experienced some especially bad luck from the pandemic?  

Where did you see or hear about this?  My quick search is not finding anything.

[Grand Stranded 2,887]

1 hour ago, goaliedad30 said:

My son is still waiting on his 425 irons ordered in June. I'll be pissed if they try to charge more when they're delivered through our pro shop!

No, your son will pay the same price. The retailers though, will take the $50 hit on every sale they placed that is still back ordered. The consumer pays the increased price starting tomorrow from what I’ve heard.

 

Edited September 7, 2021 by Grand Stranded

[Grand Stranded 2,887]

50 minutes ago, Shankster said:

Yep.  Let’s Jack the prices up even more.  
 

ProV1’s will be $70 a box this time next year. 

I’m not only stocking up on balls, I’ve bought a bag I really wouldn’t need for another year, and picked up two back up wedges and a putter this week, using up all the gift cards I have.

The good news for guys like us with the expected price hikes though is if we have any old clubs lying around, the used market will be even better next year than it was this year.

[RickyBobby_PR 9,249]

Prices have increased on a bunch of products. Materials are costing more and golf equipment including current models aren’t exempt.

I never ceased to be amazed that people treat or think about golf equipment differently than other consumer products. 
 

We always see options (aka new releases every year, mid cycle releases) in golf bad but not for other consumer products. 
 

[Shankster 31,707]

The point is. The cost of these products go up, along with the cost of living, but the money they average folks are making (aside from $20 at BK) hasn’t really followed suit.

Jacking the prices up just to Jack them up to make up for lost revenue is crap. Which from my view and opinion is what is going on here. But I really don’t see why, wasn’t 2020 one of the biggest sales years ever?

let’s just force more people out of the game.

[Golfspy_CG2 31,693]

11 hours ago, Grand Stranded said:

Applies to the 425 line, and wait for it… the 410 line also.

I can’t remember an OEM ever raising the prices on a current release, much less an old one before this.

Not a good look for PING, but I’m wondering if they’re the outlier here or simply the first to do this. We all know what’s going on with supply chains and material shortages, so who knows?

I’m guessing we’re in for a case of sticker shock with the ‘22 release cycles.

Actually Wilson Staff did this earlier in the season.  It didn’t get as much publicity as well it’s market share is no where near PINGS. 
 

As for balls. I said this earlier in a different thread.  I don’t want to create a panic hoarding type thing.  But I guess this will.   Start stocking up for your 2022 needs now.  Have been told by multiple OEM.  Balls will be a very long time frame for delivery to most shops next year.   So if shops don’t take that advice and order this fall but wait for the spring they could have bare shelves. 

[Shankster 31,707]

I’m going to take up needlepoint.  All of these “new” golfers can go back to their shanties…. Hoarding all the balls, hoarding all the equipment, filling up the tee sheet, zero etiquette… 

[RickyBobby_PR 9,249]

1 hour ago, Shankster said:

The point is. The cost of these products go up, along with the cost of living, but the money they average folks are making (aside from $20 at BK) hasn’t really followed suit.

Jacking the prices up just to Jack them up to make up for lost revenue is crap. Which from my view and opinion is what is going on here. But I really don’t see why, wasn’t 2020 one of the biggest sales years ever?

let’s just force more people out of the game.

They aren’t jacking them to recover lost revenue it’s costing them more to make new clubs because the materials to make the components has gone up as well as the cost to get the components from the factory to the assembler and the shipping coat to get them to the consumer or pro shop. They are passing the cost onto the consumer. 

[Headhammer 3,157]

Unless you've been living under a rock for the last year prices are going up on EVERYTHING! Too much money chasing too few goods, fueled by raw material & labor shortages coupled with too much reliance on overseas manufacturing. It's going to be a long course correction and many manufacturers who have been selling discounted goods for so long are going to use the pandemic as an opportunity to create new higher price floors for their products. 

[RickyBobby_PR 9,249]

9 hours ago, Grand Stranded said:

No, your son will pay the same price. The retailers though, will take the $50 hit on every sale they placed that is still back ordered. The consumer pays the increased price starting tomorrow from what I’ve heard.

 

The shop isn’t taking a hit either. They were ordered and I’m assuming paid for or at least a deposit made for the current price. 

[Grand Stranded 2,887]

7 minutes ago, RickyBobby_PR said:

The shop isn’t taking a hit either. They were ordered and I’m assuming paid for or at least a deposit made for the current price. 

That’s not what I was told, but…

As far as I know retailers don’t get invoiced on a product until it ships?

Edited September 7, 2021 by Grand Stranded

[russtopherb 9,330]

We had TWO vendors raise our prices on raw materials halfway through negotiated contracts at work. As a result we had to change pricing on a few models. And we manufacture in the USA, so we're not even taking into consideration the massive fees now associated with shipping containers. Check this tweet from Barbajo last week:

Prices are skyrocketing everywhere. Do we want OEMs to lose money and potentially cut back on products, staff or potentially go under? It's not feasible. Don't like the company's policy of protecting their interests? Buy something else. 

[Golfspy_CG2 31,693]

1 hour ago, Shankster said:

The point is. The cost of these products go up, along with the cost of living, but the money they average folks are making (aside from $20 at BK) hasn’t really followed suit.

Jacking the prices up just to Jack them up to make up for lost revenue is crap. Which from my view and opinion is what is going on here. But I really don’t see why, wasn’t 2020 one of the biggest sales years ever?

let’s just force more people out of the game.

Alan, I said this on Facebook in a post about golf green fees.   

You can't make up for lost revenue.  You can try to maximize current revenue by making sure your product is priced correctly based on it's place in the market, your market share, current economic conditions and competitive set.   I say this having spent a good portion of my career in Revenue Management for both hospitality and golf industries. 

It really isn't just jacking them up because they feel like it or are taking advantage of COVID.  I really hate that analogy when people use it.   Its not nearly the same thing as if a hotel were to all of a sudden jack it's rate up by $50 a night during a hurricane or blizzard  because people are stranded. That is price gouging, and it's illegal in most states.

 These companies have been faced with real and actual costs.   Many companies have gone to private and expedited shipping methods in order to try and get the product from overseas to the US quicker in order to fill the backorders.    The cost of gas/oil and other aspects that are affecting the country as a whole are no different to the golf companies.   if they have increased costs, it's only expected that they would have to pass them on, especially for a product that has such small margins to begin with. 

Just my thoughts on it.  I understand we all get emotional about golf because it's our hobby, and we are passionate about it.   But we have to realize it is also a business to all these companies as well.  

[jlukes 16,196]

14 minutes ago, Golfspy_CG2 said:

Alan, I said this on Facebook in a post about golf green fees.   

You can't make up for lost revenue.  You can try to maximize current revenue by making sure your product is priced correctly based on it's place in the market, your market share, current economic conditions and competitive set.   I say this having spent a good portion of my career in Revenue Management for both hospitality and golf industries. 

It really isn't just jacking them up because they feel like it or are taking advantage of COVID.  I really hate that analogy when people use it.   Its not nearly the same thing as if a hotel were to all of a sudden jack it's rate up by $50 a night during a hurricane or blizzard  because people are stranded. That is price gouging, and it's illegal in most states.

 These companies have been faced with real and actual costs.   Many companies have gone to private and expedited shipping methods in order to try and get the product from overseas to the US quicker in order to fill the backorders.    The cost of gas/oil and other aspects that are affecting the country as a whole are no different to the golf companies.   if they have increased costs, it's only expected that they would have to pass them on, especially for a product that has such small margins to begin with. 

Just my thoughts on it.  I understand we all get emotional about golf because it's our hobby, and we are passionate about it.   But we have to realize it is also a business to all these companies as well.  

Bingo.

Price of metals have gone up.  Price of rubber has gone up.  Cost of shipping, especially overseas as gone WAY up.  

These are real costs of doing business, and unfortunately businesses have margins to maintain and often pass price/cost increases to the end user.  

It sucks, but it's unfortunately how business/capitalism work

[Shankster 31,707]

1 hour ago, Golfspy_CG2 said:

Alan, I said this on Facebook in a post about golf green fees.   

You can't make up for lost revenue.  You can try to maximize current revenue by making sure your product is priced correctly based on it's place in the market, your market share, current economic conditions and competitive set.   I say this having spent a good portion of my career in Revenue Management for both hospitality and golf industries. 

It really isn't just jacking them up because they feel like it or are taking advantage of COVID.  I really hate that analogy when people use it.   Its not nearly the same thing as if a hotel were to all of a sudden jack it's rate up by $50 a night during a hurricane or blizzard  because people are stranded. That is price gouging, and it's illegal in most states.

 These companies have been faced with real and actual costs.   Many companies have gone to private and expedited shipping methods in order to try and get the product from overseas to the US quicker in order to fill the backorders.    The cost of gas/oil and other aspects that are affecting the country as a whole are no different to the golf companies.   if they have increased costs, it's only expected that they would have to pass them on, especially for a product that has such small margins to begin with. 

Just my thoughts on it.  I understand we all get emotional about golf because it's our hobby, and we are passionate about it.   But we have to realize it is also a business to all these companies as well.  

I understand.  You are in the business, you se it first hand.

I still think it is a crock.  I can see the cost going up a little bit.  But there is no way that it costs an extra $50 in materials per driver.

Gas prices here have been the same for my 2 years…

Just bringing up some things, not trying to be a donkey’s hind end. 
 

Ive seen the same thing in my line of work… 

[jlukes 16,196]

20 minutes ago, Shankster said:

I understand.  You are in the business, you se it first hand.

I still think it is a crock.  I can see the cost going up a little bit.  But there is no way that it costs an extra $50 in materials per driver.

Gas prices here have been the same for my 2 years…

Just bringing up some things, not trying to be a donkey’s hind end. 
 

Ive seen the same thing in my line of work… 

Shipping expenditures in July 2021 were 43% higher than they were in July 2020.  That is ocean, air and over the road. 

It's not just the material costs themselves - it is the entire supply chain

[Shankster 31,707]

Just now, jlukes said:

Shipping expenditures in July 2021 were 43% higher than they were in July 2020.  That is ocean, air and over the road. 

It's not just the material costs themselves - it is the entire supply chain

Yeah, I’ll just shut up now.  I was a business major many moons ago… I get the workings of all this crap. 

 

All it is doing is forcing out the working man.  Yeah. Go buy used clubs whatever, but everyone likes new equipment.
 

When are the other brands going to hike up prices on equipment (besides Wilson)?