Larry Hyatt, president of Hyatt Coin & Gun in Charlotte, N.C., believes the flourishing firearms economy will experience its own recession in the next few years.
"The gun economy has been performing wonderfully, but we're seeing certain products are tougher to sell, and customers aren't as willing to spend now," Hyatt said. "The poor economy is really just starting to hit the gun industry."
Additionally, Hyatt says gun dealers are being forced into an era of new retail, when interacting with the customer over the Internet will vastly supersede working with customers face-to-face in stores. Hyatt uses the Internet extensively to promote his operation, in addition to making online sales. He also uses Facebook, Twitter and YouTube to connect with consumers.
"Customers are much more knowledgeable now, and they are going to shop around on the Internet to get the cheapest deal they can on a gun or other products," Hyatt said. "Profit margins...