Knowledge is Power

It has been said, many times, that knowledge is power. Knowledge of sales trends can empower retailers to more intelligent business decisions, and those decisions can help improve a store’s profitability. The NSSF Research breakfast at SHOT Show 2024 is a prime example of putting such knowledge to good use.

The three presenters—Rob Southwick, president of Southwick Associates; Tom Decker, a manager with U.S. Fish & Wildlife Service; and Kaleb Seymour, vice president of data analytics at Gearfire—shared their insights to a packed house. What follows is a selection of nuggets that I gleaned from their presentations, all of which can help you run a more profitable business.

Brick-and-mortar retailers, Southwick said, need to tell their brand story, and they need to understand that the new customer is different. You earn their trust before they walk into the store via a strong online presence. This helps alleviate any nervousness on the part of new gun owner, and your site needs to tell them “we want you here.”

When they do walk in the door they must be greeted promptly and warmly. “Don’t be the guy behind the counter who just stares at them,” Southwick said. And since women are increasingly an important emerging market segment, you need to welcome them with no patronizing attitudes. “Welcome women. Talk to the woman not her companion.” (For a deeper dive in how to sell firearms to women, check out “What Women Want” on page TK.)

Because personal protection is high (number one, in fact) on the list for new gun owners, Seymour informed the crowd that compact and sub-compact semi-auto handguns lead the way. Revolvers are far down the list, as are shotguns.

Recreational shooting is even farther down the list. Here he noted that though 3 Gun and long-range shooting command a lot of attention, they are difficult to master and expensive as well. Keep that in mind when you stock your store.

Decker presented the crowd with a sobering message. “We have detected the first decline in public approval of recreational shooting. It’s a small drop, from 80 percent to 78 percent, but worrying nonetheless.” He also noted that more target shooters fish than hunt, which may mean than a gun store’s advertising could be going to the wrong audience.” —Slaton L. White