Smith & Wesson CEO gives grim insight into future of ammo shortage
June 19, 2021 | Vivek Saxena
An ammunition shortage that began during the coronavirus pandemic and the heated 2020 election reportedly continues to plague manufacturers as Americans remain committed to stockpiling as many guns and as much ammo as possible.
“It’s widely known the ammunition shortages continue. There is still a lot of interest in firearms,” Smith & Wesson CEO Mark Smith said this week to Fox Business Network.
The data backs his statement.
A survey conducted by the market research firm Southwick Associates in April found that, out of 1,800 ammo customers surveyed, 75 percent had already experienced out-of-stock issues this year, down by only 5 percent from the record high recorded in 2020.
“Of these respondents, 79% reported either fully or partially reducing their target shooting and hunting outings as a result of depleted ammunition shelves. Going forward, ammunition demand is expected to remain high,” the firm, which specializes in outdoor activities, announced in a press release last month.
“Nearly two-thirds of ammunition consumers report their current ammunition inventory was lower than they would prefer. When asked how much more ammunition they would like to have on hand, 43% reported ‘much more’ while 38% reported ‘a little more.’ Only 17% were satisfied with the amounts they currently had on hand,” it added.
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https://www.bizpacreview.com/2021/06/19/smith-wesson-ceo-gives-grim-insight-into-future-of-ammo-shortage-1091301/