Callaway Expands Topgolf Retail Brand in US and Internationally

Topgolf Callaway

Topgolf Callaway Brands CEO Chip Brewer has his eyes on expansion as a means to grow the “active lifestyle segment on the whole.”

On the company’s third-quarter earnings call on Thursday (Nov. 3), Brewer had a positive outlook for the sports equipment company going forward into the next quarter and beyond.

In August, the company rebranded to Topgolf Callaway Brands and changed its stock ticker symbol to MODG as a way to “emphasize our unique and dominant leadership in the Modern Golf space,” Brewer said at the time.

Like most businesses over the last quarter, Callaway did face inflation pressures in regard to wages and the cost of goods.

As a way to combat inflation, Brewer announced that the company will be increasing its prices across its various businesses, but will also be raising its employee wages to “make sure we remain competitive and that our hourly playmakers are well taken care of,” said Brewer.

Also, the Topgolf segment of the company recently opened a new style of venue in Seattle with a larger, more open lobby area that includes golf simulators and a Callaway-branded fitting studio in the lobby.

Brewer is confident in the company’s ability to reach a growing international golfing audience over the next year.

“The Callaway branded business … remain strong globally, with our apparel business in Asia performing well and our Gear business, namely golf bags and gloves delivering both market share and revenue increases,” he said.

Related: Callaway Is Now ‘Tech-Enabled Golf, Lifestyle Apparel and Entertainment Company’

The company has come a long way since 2021, when the biggest company news at that time was Callaway’s U.K. and U.S. locations being able to bounce back from pandemic-era slowdowns.

Since then, Callaway has launched 11 retail locations in the U.S. and internationally, including a new international franchise venue in Bangkok, Thailand in the third quarter.

“As we look out over the next few years, we are confident Topgolf will be a significant source of long-term value creation,” Brewer said, “Topgolf … already is a dominant leader in the dynamic off-course golf industry and we believe it will maintain this position given its significant growth prospects ahead.”

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45% of Non-Recurring Transactions Now Use Instant Payments

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The gig economy and gaming industries have driven a rise in ad hoc transactions, payments made outside of regular invoicing and payroll. Businesses are relying on instant payments to streamline these transactions, which involve contractors, consumers and small businesses.

According to a PYMNTS Intelligence report, “Gigs and Games: How Instant Payments Are Gaining Ground for Ad Hoc Transactions,” a collaboration with Ingo Payments, with increased demand for efficiency and speed, instant payment systems are becoming a preferred solution, though obstacles to wider adoption remain.

Instant Payments Comprise Nearly Half of Ad Hoc Transactions

Instant payments are gaining in popularity for ad hoc transactions, according to the report. With the demand for quicker and more efficient methods of payment, businesses are adopting real-time payment systems to facilitate faster transactions, reduce fraud risk and improve overall financial processes.

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PYMNTS found 45% of all ad hoc payments made in July 2024 were sent via instant methods, a notable increase from 36% earlier in the year. Industries that rely heavily on nonrecurring payments, such as gaming and the gig economy, have seen the most significant uptake.

Larger Enterprises Leading the Shift

Larger companies are leading the adoption of instant payments for ad hoc transactions. Businesses with more than $1 billion in revenue are sending half of their ad hoc payments via instant rails, revealing a preference for speed and efficiency. Smaller companies, however, are lagging in adoption, with those earning between $50 million and $100 million turning to instant methods for just 34% of ad hoc payments. The delay in adoption among smaller enterprises is often linked to the high costs of integrating instant payment systems into their existing processes.

Despite this, the trend toward adopting instant payment methods is gaining momentum across the board. Many large enterprises view instant payments as the future standard for ad hoc transactions, especially in business models that no longer rely on recurring payees, such as contractors or freelance workers. But challenges persist in scaling this technology across industries of all sizes.

Barriers to Broader Instant Payment Adoption

While instant payments offer considerable benefits, particularly in terms of speed, cost savings, and enhanced customer/vendor retention, the report shows businesses face obstacles in fully adopting them. For many enterprises, the cost of integrating real-time payment systems remains the primary barrier. According to the report, 35% of businesses cite integration costs as the biggest obstacle to adopting instant payments for ad hoc transactions.

Additionally, there is a digital divide, with industries like gaming and the gig economy leading the charge in adopting instant payment systems. But two-thirds of small and medium-sized businesses (SMBs), particularly those in industries with less digital momentum, are dealing with the costs and complexities of implementing these systems. Despite these challenges, businesses that do embrace instant payments could gain a competitive edge by securing customer and vendor loyalty, driving down transaction costs, and improving cash flow management.