On November 8, 2016, Donald Trump was elected into office. Gun enthusiasts around the country were comforted by a reduced threat of increased gun control and regulation. But, in the short term, some categories are down with firearm inventory. We’re projecting a market reduction of around 17% this year, as the industry resets to more “normal” levels. To more effectively compete in this environment, using data to help you make better decisions will help you stay profitable.
How Can You Obtain Such Data?
Marketplace Insight and Orchid Advisors have joined forced to create a low-cost service for firearm retailers to harness national pricing trends. Our data – which flows from GunBroker.com and various POS applications – can now be obtained through “FFL Insight”, an app designed specifically for retailers and pawnbrokers who sell new and used firearms.
Subscribers will receive a monthly PDF report of national prices by firearm category, subcategory, manufacturer, and more. Additionally, subscribers will have access to an online portal that allows them to slide and dice price data to meet their analytic needs.
You can sort, search, and filter by clicking each of the column titles at the top to sort the field in alphabetical order.
- Condition – New or used firearms
- Category – Pistol, Revolver, Bolt Action Rifles, and more.
- Subcategory – Such as Semi-Automatic classifications.
- Manufacturer – S&W, Ruger, Colt, Remington and many, many more.
- Model – Cowboy Defender, M&P22, Century 2000, and 20,000 others.
- SKU and Average Price
Why Do I Need Firearm Retail Pricing Data?
Post election some retailers are nervous about the short term. Long-term, our industry looks great. A Republican president and Congress means no threats to the 2nd Amendment any time soon. But, there are a lot of guns in channel and demand has softened somewhat. Retailers are concerned how they are going to compete effectively in this environment.
One thing you can use to your advantage is better data and insights – including better pricing data. Stocking the right product at the right price is critical to success. Pricing your products too high can lead to lost sales and pricing them too low can impact your profits.
You can use this data to answer questions like:
- I want to sell guns in a particular price range; which guns should I buy?
- I’m not sure where to price this particular firearm; what’s the average price?
- Are people willing to pay more for this gun this month vs. last month?
- How are prices reacting to external events in the industry or in the country?
- What’s the difference in price for new vs. used models?
The monthly subscription prices are as follows:
Take Control of Your Sales, Profits and Inventory!
We encourage you NOT to compete on price alone. That’s a way to kill your business. What this tool will help you do is know where the ballpark is and then you can make some adjustments up to improve profits, or some slight adjustments down to sell inventory faster.
We’re hoping to eliminate guesswork for you or manual research time. And, then you can use this data to craft better listings, or better bundled offers.
Where to See More
You can subscribe to the tool here: http://orchidadvisors.com/ffl-insight-retail/
by Ryan Nokes | MarketPlace Insight
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