Gearfire RetailBI, the leading business intelligence and data analytics provider in the shooting sports industry, announces the release of its free 2024 Q2 Shooting Sports Industry Report. The quarterly report, informed by real-world retail sales and inventory data from 2500 independent firearm retailers, provides manufacturers and distributors invaluable insights intended for use in formulating meaningful product strategy, production, and inventory decisions.

The RetailBI report reveals a nearly 20% year-over-year decline in new retail firearm sales when compared to Q2 2023. Moreover, when contrasted against the adjusted number of National Instant Criminal Background Check System (NICS) checks over the same period, as reported in NSSF-Adjusted NICS Background Checks, a significant disparity in uncovered. The NSSF Adjusted NICS figures show a reduction in the number of background checks of -7.9%, a far smaller decline than that of the number of actual firearms sold (-19.6%) as reported by RetailBI. This discrepancy highlights the importance of RetailBI’ s extensive retail data in providing a more accurate understanding of the current market slowdown.

Kaleb Seymour, VP of Data Analytics, stated, “Our Q2 report provides critical insights into the firearms market, highlighting the discrepancy between new retail sales data and adjusted NICS Checks. By providing the industry with this invaluable information, we aim to support those in the firearms supply-chain with the information they need to make informed decisions in this challenging market environment.”

In an unprecedented move, Gearfire is offering the quarterly RetailBI Quarterly Shooting Sports Retail Executive Report for free throughout 2024. This initiative aims to equip industry stakeholders with valuable insights to better navigate the current market conditions and foster optimal retail health.

To access the full 2024 Q2 Shooting Sports Retail Report, click here. For data customized to specific segments, brands, or regions, contact Kaleb Seymour at kalebs@gearfire.com.

About Gearfire RetailBI

RetailBI, a flagship product of Gearfire, is a leading business intelligence and data analytics provider in the shooting sports industry. Leveraging a comprehensive database informed by sales and inventory data for 100,000+ UPCs from over 2,500 independent firearm retailers, RetailBI offers unmatched insights into real-world consumer buying behaviors that help firearm manufacturers, distributors, and retailers navigate market trends and optimize their inventory strategies for sustainable growth.