One thing I wanted to add to an earlier point, especially after Joey’s anecdote, is that people doing first time shopping in rural areas are much, much more likely to buy a shotgun (or maybe a rifle) as dealing with wildlife with a pistol is rarely a smart move, and the locals as well as the dealers will tell them so. Not to mention, as he pointed out, you can normally get a shotgun or other long gun immediately, without a fraction of the work to get a pistol (although requirements vary dramatically depending on region/state).
Since the biggest reported surge is in handgun sales, that suggests that the concern is defense (or possibly offense) against humans, who tend to be easier targets, and where portability and concealability are key factors. I’ve added an extra, probably less biased site for review (NPR) from July, and the numbers of background checks (which are run for legal handgun sales) are quite telling.
Short version, background checks for handgun purchases are up 80% from last year - where we knew we were already approaching an election year with a challenged incumbent. Similar numbers from retail surveys, a large number of first time buyers who have minimal if any experience, but are still making the purchase.
As a gun owner and CCW permit holder, I spend some time lurking various boards, and for the people who are, shall we say, adventurous, the concerns are not about firearms, but the shortages of affordable ammunition are reloading supplies. While I have minimal concerns about such armchair warriors, I am terrified of the number of people buying guns without having done any training, or without adequate preparations to gun-proof a home. Those are tragedies waiting to happen.
Getting back to the original topic however, what would make gun sales go down? I think the answer is a feeling of safety and stability. BUT what defines safety and stability varies from group to group, often at increased feelings of threat to others. I’m sure the average Trumper would feel safe if all the protesters were dragged off to jail and the cops were given free reign. It’s not like we haven’t seen people saying that on this board - but that same scenario makes more liberal leaning individuals feel a critical need of defense against those same police and neighbors.
So, if Biden wins today (or the next 2 weeks depending on ballot and lawsuit processing), and makes good on a centrist, respectful administration, gun sales will likely drop like a brick, especially if we have positive progress on stopping Covid. If Trump remains at large, and keeps whipping up the us-vs-them mentality with dog whistles to the most violent subgroups on the right, nothing is going to change in the short term.
The one thing that sadly may drive down sales is my earlier point - ammunition. All the major American manufacturers are already running at 100% - and the demand is so high that if and when you can find ammunition for sale, it’s already almost doubled in price. If you go to the store to buy a weapon, but can’t get ammunition, it’s probably not going to happen.
And of course, first time buyers are a lot less likely to go for the multiple purchase option that collectors and enthusiasts do. Once that surge is past, say in 6 months when we’re past the election one way or another and ideally have a vaccine, those people are going to look at that pistol as an impulse buy and likely never get another. We won’t have changed the increase in total gun ownership, but gun sales will drop from their current inflated level.