FERNANDINA BEACH, FL. – 2020 fundamentally changed the volume and types of hunting, fishing and firearm-related products consumed. In response to many factors such as distancing requirements, social unrest, political changes and more, demand reached unanticipated levels, creating challenges no business expected entering the year. To help businesses understand the size of the 2020 retail markets, Southwick Associates has released two reports, one covering the $10 billion fishing tackle market and the other covering the $24 billion fireams, hunting and recreational shooting market.
“2020 presented many business challenges that both spiked and suppressed sales,” said Nancy Bacon, Vice President at Southwick Associates. “COVID-19 and social issues drove demand to all time highs. Simultaneously, the same factors resulted in depleted wholesale and retail inventories, closed factories, shortages of materials, and backed-up ports, causing significant supply pressures. These new market size reports are designed to help businesses better understand the new operating world.”
All major categories tracked by Southwick Associates showed increases. After slight growth in the first quarter of 2020, firearms and ammunition sales exploded the rest of the year, experiencing growth exceeding 60% even with supply constraints. Hunting and shooting sports accessories also saw growth, along with fishing tackle retail sales that saw an overall 55% increase.
The new reports, one covering the hunting and shooting equipment market and the other covering the fishing equipment market, are available from Southwick Associates for $3,500 each. Both present retail unit and dollar sales estimates. The hunting/shooting report lists more than 100 products directly associated with hunting and recreational shooting and includes breakouts by action type, caliber/gauge, the primary purpose for consumers’ purchases and more. Thirty-six categories are presented in the fishing equipment report, with rods, reels, line and lures divided into freshwater and saltwater categories. Only equipment directly associated with hunting, recreational shooting, personal protection and sportfishing are reported. Other items such as travel-related spending, real estate and indirect equipment such as vehicles are not included.
For more information on Southwick’s market size reports and to view a sample report, visit www.southwickassociates.com. Custom research into specific market niches is also available, as are reports identifying the top brands, sales by retail channel and more. To purchase a report, or to discuss any custom research needs, contact Nancy Bacon at [email protected].