Tracking trends in the industry - Outdoor Marketplace

Shooting Industry, July, 2002 by Mark Diss

What products are hot in the industry? A trip to the SHOT Show is vital to know what's new.

"Another way a retailer can keep track of product trends is to follow the trade and general gun magazines," White said.

In this issue of Shooting Industry, there's the magazine's exclusive "Firearm Production Report." It tracks firearm production for the past 20 years.

"It's the only report of its kind," said Russ Thurman, SI editor. "Dealers -- everyone in the industry -- can easily see the trends in handguns, rifles and shotguns. Such information is invaluable."

A dealer's employees are another vital source for determining trends.

"A dealer needs to listen to what his employees are saying and requesting. They're repeating what consumers are asking for," White said.

Dealers also benefit from national surveys that track recreational activities.

"A recent NSSF survey showed that waterfowl hunting has moved up in the last three years," Painter said. "This kind of information is very useful to the retailer who's deciding the kind of merchandise he should carry."

Another way to track product trends is to examine your sales. A point-of-sale (POS) system makes this easy.

"If you're not using a POS system, you're missing out on important information," White said. "The reports a POS system generates will tell you a lot about gross margins, such as where you may need to expand a category or decrease items. That type of information is crucial."

Summing Up

Keeping track of trends requires time and effort, plus involvement in your community and the industry. That time, however, can mean the difference between being blown about by the winds of change, or riding the crest of economic success.

For a detailed list of trend resources, see this month's "Outdoor Marketplace" on www.shootingindustry.com.