According to findings from Go Gearfire’s recently released “Sporting Q1” Retail Sales and Inventory Management Snapshot Report, enthusiasts aren’t just waiting to buy their next gun, they’re also cutting back on their budgets in a variety of ways: Enthusiasts are buying more ammunition, but are choosing boxes of ammunition with fewer rounds, resulting in less spending overall.
The study also offers an in-depth look at retail trends and more sophisticated gun-purchase forecasts, factors in National Instant Criminal Background Check System check denials and multiple purchases, and includes a comparison of inventory and sales for 2023 and 2024. Much of the information is based on data collected from about 2,400 stores.
According to the report, total firearm sales were down 13.3 percent over the three-month period. Total sales of ammunition (packages of rimfires, centerfires and shotgun shells) increased 1.3 percent, but there were fewer rounds per box than last year. Excluding this decline, the total number of rounds sold was down 3.2 percent. The amount of money spent at the cash register was down 5.7 percent.
The number of enthusiasts adding handguns or revolvers to their collections fell 13.5 percent, but sales of handgun ammunition increased 5.4 percent. Stores may have sold more boxes of ammunition, but when you adjust for the amount of content, fewer rounds were actually purchased. Sales fell as well.
The trend of reduced spending extended to optics as well: The number of red dots and scopes sold during the study period fell 7.1 percent. The dollar amount spent per purchase fell 8.2 percent.
“Understanding the true nature of the firearms retail environment is critical for decision makers at both the manufacturing and distribution levels,” said Kaleb Seymour, vice president of data analytics at Go Gearfire. “Accurate retail sales data, combined with store-level inventory levels, allows for the development of informed policies and sound business decisions that can positively impact the health and profitability of the entire firearms supply chain.”
