After surveying over 600 respondents between the ages of 17 and 34 years old in metro statistical areas where there is a Topgolf location, Jefferies analyst Randal Konik recommends buying shares of both Acushnet Holdings (GOLF) and Callaway Golf (ELY). The analyst says the survey supports his thesis that off-course concepts, such as Topgolf, are driving new, and younger, entrants to the sport. The golf industry has undergone a significant transformation over the past decade, and stands to benefit from several key demographic and secular tailwinds, Konik tells investors in a research note. Only around half of Baby Boomers have retired and off-course concepts are growing rapidly and driving new entrants to the sport, Konik says. He views Acushnet as the best-positioned to benefit from an Improving industry backdrop. Further, Callaway's "innovation engine" should help it defend its market share while acquisitions support future growth, the analyst adds.