Gearfire RetailBI has released its Q3 2024 Shooting Sports Retail Report, which outlines the key trends and data from over 2,400 firearms retailers.
RetailBI, a flagship product of Gearfire, is a business intelligence and data analytics provider in the shooting sports industry. Its Q3 2024 analysis reveals notable consumer behavior, sales and inventory shifts in firearms, ammunition and accessories.
The report notes that the shooting sports retail landscape displayed a mixed performance across the following product categories:
- Firearms: Rifle sales rose by 1.2 percent year-over-year, led by a 5.2 percent increase in semi-automatics. Shotgun sales also increased 7 percent, suggesting a recovery in long guns, while Handgun sales dropped by 8.4 percent.
- Ammunition: Sales volume decreased by 6.1 percent, with significant declines in shotgun ammunition (-19.2 percent), while rimfire ammunition grew by 3.6 percent. Overall, ammunition inventory increased by 8.8 percent.
- Optics: Red Dot sales increased by 7.6 percent year-over-year, contrasting with a 7.8 percent decrease in scopes, while inventory levels for both categories declined by 9.2 percent.
- Suppressors: This category grew remarkably, with sales up 94 percent and inventory levels down 40.8 percent year-over-year, fueled by reduced regulatory approval wait times.
“In today’s competitive environment, data-driven decisions aren’t optional—they’re essential for maintaining market share and capturing opportunities early, offered Kaleb Seymour, VP of data and analytics at Gearfire. “RetailBI’s insights enable businesses to adapt to changing market dynamics with precision and confidence.”
RetailBI’s Q3 2024 full report offers further details, including inventory trends, top-performing models and insights into retailer stocking patterns. Go here to download the full executive report.
Image courtesy USA Shooting
