According to Smith & Wesson CEO Mark Smith nearly eight million Americans have decided to “exercise their Second Amendment rights for the first time.”
Of the eight million first time buyers, 40% have been women, which mens approximately 3.2 million women became gun owners this year alone. Gun purchases by Black Americans were up 58% in the first half of 2020. “This expanded consumer base of new firearm owners represents a healthy long-term opportunity for the industry as a whole, but specifically for Smith & Wesson,” said Smith.
These numbers only tell part of the story regarding gun sales. The current stats are based on the 19 million NICS checks that were done in 2020, which are required by the FBI. Anybody who has a concealed carry permit has already passed a background check, and additional gun purchases do not require a repeat check. Customers need only to show their carry permit when purchasing a firearm. And, a single NICS check can be used to purchase multiple firearms.
Also, a background check is not required for a private sale between two individuals in most states. Considering these variables, gun sales hit an all-time high in 2020, even beating the massive spike in sales running up to the 2016 election.
The reasons for the boom are obvious, according to Smith. 2020 has been the perfect storm for gun sales. TheCOVID-19 pandemic tanked the economy. Crime spiked.
Americans watched months of rioting and looting take place in cities across the country. Politically motivated violence is on the rise.
Plus a presidential election where one candidate has declared war on the Second Amendment. “It’s better late than never, so stock up if you can,” said Mark Smith