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April 17, 2024
Driving Industry Growth: Taurus CEO Shares its Path to Success
Taurus USA’s CEO shares exclusive insights, revealing trends, innovations and the power of industry unity.
Taurus USA, led by President and CEO Bret Vorhees, stands out as one of the largest firearm manufacturers globally, specializing in pistols, handguns and revolvers. A notable feature of Taurus’s product range includes brands like Rossi and Heritage, offering a diverse selection, including lever-action rifles and single-action .22 revolvers. Taurus remains committed to innovation, continuously striving to enhance the quality and features of its firearms while maintaining competitive pricing.
In an interview at the 2023 NSSF Marketing and Leadership Summit, Bret Vorhees, President and CEO of Taurus USA, shared his valuable perspectives on industry trends, consumer behavior and the importance of industry unity and advocacy.
Here are the key takeaways from this conversation:
Industry Trends and Consumer Behavior
Vorhees highlighted the significant spike in demand witnessed by Taurus USA in recent years, partly attributed to the COVID-19 pandemic and civil unrest. Demand has remained relatively high despite some fluctuations, with record sales continuing. Notably, there has been a trend towards more traditional firearm models, such as revolvers and lever-action rifles, indicating a resurgence of interest in Western culture.
Beyond changes in product popularity, Vorhees also noted a continued shift in customer demographics. Taurus is “seeing a growing segment of women buyers… [who] are purchasing firearms and seeking training for themselves.” Vorhees emphasizes that this has been a growing segment of the market for nearly 10 years.
Investment in Innovation
“Firearm manufacturers [are] producing very-high quality, good firearms, great features, and all at a pretty competitive price point,” says Vorhees. When looking to the future of the industry and keeping your business competitive, Vorhees stresses, “Innovation is going to be key for everybody… that’s where most firearm manufacturers are going to win long term.”
Innovation emerged as a critical focus for Taurus USA, with Vorhees emphasizing the importance of investing in research and development. The company has made significant investments not only in developing new products but also in new manufacturing technologies and materials.
Industry Unity and Advocacy
Vorhees underscored the unique solidarity within the firearm industry despite being competitors. He emphasized the shared challenges faced by industry players, including legislative and regulatory hurdles. Vorhees stated, “Even though we’re competitors, we all face the same challenges… it’s important for us to… have a cohesive unit.”
Furthermore, Vorhees highlighted the crucial role of industry advocacy organizations like NSSF in representing and defending the interests of firearm manufacturers. “If you’re not a member of NSSF, you need to join. And if you are a member, let’s kick up the support because the fight is not getting easier,” urged Vorhees. He emphasized the need for industry members to unite and strengthen their resources for collective advocacy efforts.
Attend the 2024 Marketing and Leadership Summit
Considering Bret Vorhees’s valuable insights, industry professionals are encouraged to attend the 2024 Marketing and Leadership Summit. This event provides an invaluable opportunity for networking, professional development and staying attuned to industry trends and challenges. By coming together as a cohesive industry, attendees can contribute to shaping the future of the firearm industry and supporting its continued growth and resilience.
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