It’s hard to believe it’s been this long since surfers started getting their money’s worth.
But in a year that’s seen more extreme weather, warmer seas and more extreme waves, the price of a surf suit has risen more than 500%.
And when it comes to the surf market, it’s not going to go down.
Surfing is one of the biggest industries in the United States, but the industry has seen its share price fall more than 200% since the beginning of 2017.
In 2017, it lost around $3 billion, according to data compiled by financial website Coindesk.
Surfer Lauren Shorts, founder of the brand Surfer Lane, recently revealed she’s going to give up the business of her own to fight back against the onslaught of the sea.
“If we can get the price down to where people feel like it’s still affordable, I think we can win back the respect of surfers for what we do,” she said.
Surf suit sales are down for the first time since 2017 in the US, but they’re still growing.
The US has been hit with two straight years of record-breaking sea conditions, with temperatures that are almost as warm as today.
That has also pushed down sales of all other types of clothing, from jackets to shorts, to clothing with a waterproof lining.
Sales of the top three surf brands in the country — TaylorMade, Revel and Scottish — have all dropped by more than 30% this year.
“There’s a lot of wear out of the market,” said Dan DeCoutere, a research director at research firm CB Insights.
“It’s not that the market has changed, but it’s become less and less available.”
While the recession and economic slump have helped to slow sales of traditional surf gear, the industry is still growing — and that’s thanks to the popularity of technology.
“When I go to a surf shop, I don’t feel like I’m buying something new,” said DeCoverere.
“I’m buying the gear.
And it’s easy to understand why.”
The rise in the cost of surf gear has been a boon for companies like TaylorMade and Revel.
In 2018, the brands reported net sales of $4.6 billion, up more than 40% from 2017.
That includes sales of jackets, shorts and flip flops, as well as the surfwear for surfing tournaments.
“I think there’s more demand than there’s supply, and that will continue to be true,” said Michael J. Taylor, president of the Scottish Group, a subsidiary of the Swedish clothing company Scottish.
I think that’s the big difference. “
But it’s a different price point.
I think that’s the big difference.
A lot of people are going to buy a $500 to $800 jacket.”
It’s also been a factor in the rise in luxury brands, which have become popular in the past decade, especially in the Bay Area.
As sales of high-end suits and accessories continue to rise, brands like Armani, Zara and H&M have started selling for more than $10,000.
While surfing gear sales are still booming in the U.S., the cost has gone down.
And while the surf industry is now in a period of economic turmoil, TaylorMade said it’s looking forward to the new year and the next year to regain the trust of the surf community.
“We think that this year is going a long way in reestablishing the confidence in the surf world,” he said.
“We’re just really looking forward and excited about what’s going on.
We’re just thrilled to be part of that.”