In an article written by Mel Bagnall in the trade publication Angling International Magazine, Bill Shedd from the American Fishing Tackle Corporation (AFTCO) is bracing for a recession across the United States.
“Last year was not as good as the huge increases of three years ago and businesses who say otherwise are not being honest,” Shedd told Angling International, adding “AFTCO has started the year well, but we are waiting for the recession to come. We have not seen it yet, but I believe it will come.
“This year a lot of companies have been stuck with excess inventory and they are having to sell it at a time when our trade – like other businesses in the US – is experiencing a slowdown in the economy,” Shedd told the publication, adding “You can’t have interest rates move like they have in the US without them having an impact. There are a lot of cash-strapped companies out there and there could be trouble ahead for them.”
AFTCO won five product showcase awards at this summer’s 2023 ICAST event in Orlando, FL, and he told Angling International that protecting staff is important during economic downturns. “It will be hard, but the companies that continue to innovate will do better than others. It is important to be aware that tough times will not last forever.”
Shedd also explained that the economic situation across the U.S. is just one of the challenges facing the fishing tackle industry. “There is an environmental community out there that is intent on taking anglers off the water,” he said.
“In California, where all the crazy ideas come from, they are advocating banning anglers from all the lands, waters and lakes included in the 30×30 project,” said Shedd, adding “That is just one of the many threats facing our waters, but solutions that call for anglers being banned from the water by extreme environmental groups and politicians are not the answer.”
“Anglers are not the enemy, they are part of the solution,” he added.
