CNN reported that “America’s gun stores are overstocked.”
Gun sales surged to unprecedented levels following the Newtown massacre of December 2012, driven by concerns about increased federal regulations, particularly against assault rifles.
Back then, Americans were buying AR-15s and AK-47s as fast as retailers could get them, pushing up prices and creating shortages of guns and ammo.
The stores couldn’t order them fast enough. But they over ordered and now there are too many guns sitting on their shelves.
This is not a problem, but an opportunity. What does a car dealer do when he has too much inventory? He slashes prices! The same applies here.
This is quite different from 2013 and earlier this year, when Sturm, Ruger CEO Michael Fifer complained about retailers placing “grossly unrealistic” orders with his company.
Fifer called out “that guy with $25,000 worth of credit line hoping he’s going to get $100 million worth of product before the surge ended.”
To be sure, consumers are still buying guns.
As measured by FBI background checks, more people want to buy guns. The background checks, which are required for most but not all gun transactions, rose in September to 1.46 million, compared to 1.4 million the year before.
Funny how CNN misleads you with the headline yet tells the truth with the story. Yes, more people are buying guns, not to mention people who’ve never owned a gun and are becoming gun owners for the first time.
Does that mean guns always sell like gangbusters? No. All sales are subject to seasonal changes, the economic climate, political climate, and a million other reasons.
So if you’re looking for a gun, this is the time to buy one. Assuming gun stores are “overstocked” as CNN said.