Topgolf promotions accelerate sales

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Topgolf sales accelerated 11.2 points to 3.1% YoY from April to May 2024, while the average ticket remained flat during the same period, according to Earnest credit card data. In their latest earnings call, Topgolf Callaway Brands (MODG) highlighted several promotional strategies, such as half-off Tuesdays and an upcoming “Free 30” campaign, which offers 30 free additional minutes of gameplay on weekdays. Earnest data suggests that these promotions successfully buoyed sales in May as transaction growth offset sluggish ticket growth.

Topgolf’s May 2024 growth was in line with Earnest’s broader Indoor Entertainment Centers subcategory (includes Dave & Busters, Bowlero, and Punch Bowl Social), which grew 7.8% YoY.

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Topgolf’s transaction growth offset a flat (-0.3% YoY) average ticket, leading to an overall sales acceleration. Average ticket for Indoor Entertainment Centers accelerated 100bps to -0.7% YoY.

Track spending at Indoor Entertainment Centers for free

Topgolf promotions accelerate sales

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