HARTFORD, Conn. – Companies selling firearms can now watch pricing trends to help manage their own sales. Developed by Marketplace Insight and Orchid Advisors, the new app “FFL Insight” was designed to help business enhance retail firearms pricing decisions for all business owners.
The subscription service is available to U.S. dealers.
“Marketplace Insight is the authoritative leader in firearm market intelligence,” says Jon Rydberg, CEO of Orchid Advisors. “The subscription provides access to a simplified subset of a much larger firearm market intelligence product that is currently used by several of the industry’s largest manufacturers and wholesalers. The broader Marketplace Insight product permits advanced market analytics by geography, demographics and even offers statistical based forecasting models.”
FFL Insight emerged after the company received a strong level of interest from firearm retailers who attended NSSF’s SHOT Show in Las Vegas.
FFL Insight provides national firearm pricing trends directly to dealers and pawnbrokers. Subscribers will receive a monthly e-report and have access to an online portal that provides category filters and sorting tools permitting customization relevant to their business.
Those who are seeking to optimize their inventory balances, customer acquisition levels and profits will benefit from this intelligence said the company in a statement.
Examples of the data elements included in the FFL Insight subscription are:
- Condition (new or used firearms)
- Category (pistol, revolver, rifles, suppressors and more)
- Subcategory (semi-automatic classifications)
- Manufacturer (Smith & Wesson, Ruger, Colt, Remington and more)
- Model (Cowboy Defender, M&P22, Century 2000, and 20,000 others)
- SKU and Average Price
“A business owner can only make instinctual decisions for so long,” says Ryan Nokes, director of Marketplace Insight. “Good data removes the guessing and helps you manage your business more effectively.”
Firearm dealers and pawnbrokers can subscribe to the new and used firearm pricing reports by clicking here. Firearm wholesalers or manufacturers seeking more in-depth information including geographic pricing, demographics, statistical based forecasting and custom analytics can learn more here.
Orchid Advisors helps firearms manufacturers, distributors and retailers achieve compliance and operational excellence through education, technology, software and consulting solutions that reduce risk, cut costs, and provide expert guidance to make clients’ businesses more successful and efficient. Orchid Advisors is endorsed by NSSF, the National Shooting Sports Association and a partner with the National Association for Sporting Goods Wholesalers .
MarketPlace Insight is a data and analytics group focused on providing business insights from online auction data.