I don’t have access to Whites’ sales numbers or their P/L figures so any thoughts [of mine] on their continued business is more of a guess than anything else. I am a fan of their machines (I actually prefer Whites machines) so naturally I am hopeful that they are making metal detecting equipment for many years to come.
I am likely in the minority here, but I don’t see the Equinox as being the slayer of all competition. I would guess that metal detecting enthusiasts see it that way, but the average person doesn’t have the slightest idea of what the Minelab Equinox is. What enthusiasts see/demand/want is far different from what the average person sees/demands/wants.
I know a lot of people who have some interest in metal detecting; most of them wouldn’t dream of dropping more than a couple hundred dollars on a machine. To them it simply isn’t worth the money: they view metal detecting as a once-in-awhile activity that their kids might enjoy.
When it comes to brands I’ve yet to experience anyone (outside of those who are fairly serious about metal detecting) who has heard of Minelab. The brands they typically mention are Bounty Hunter, Radio Shack, Whites, and Garrett. Occasionally someone has heard of Fisher, but even that brand isn’t well known outside of those who take the hobby fairly serious.
The question I most often get — once someone finds out that I enjoy metal detecting — is “is brand X a good metal detector to buy?” Not a specific machine — just a brand. Oftentimes they’ll mention the box store they saw the machine in — and they usually know the price of the machine they saw. For the most part, as far as they’re concerned, all metal detectors are the same (as far as function) and all differences boil down to price and brand.
Back when I owned/used an Etrac it wasn’t unusual for people to ask why I wasn’t using a Bounty Hunter, or Whites machine. They just assumed that those two brands were the best (since they had seen mostly those two brands — and/or Radio Shack).
My guess is that most of the metal detector manufacturers sell far more of their entry level machines than they do their mid level to high end machines. I’d also guess that the bulk of their profits come from those lower end machines. I’d also guess that a good percentage of those lower end machines sit in the closet/garage all but the first month or two after the purchase.
A look at local listings (Craigslist, FB, the newspapers, etc..) bears that out — probably 98% of the machines offered for sale are the lower end models. Lots of Bounty Hunters, Radio Shack, Whites, and Garrett. Occasionally there will be a mid-level or higher machine listed for sale, but even then they’re usually Garrett or Whites.
I think the Equinox had to put a dent in sales of higher end machines — almost all of which are sold to enthusiasts. I also think that market is fairly limited in scope (compared to the fairly large entry level market). I actually think the Equinox cannibalized more Minelab sales than it did sales from other brands.
I think what harmed Tesoro the most was their lack of marketing. I don’t believe I’ve ever had an experience where someone (who isn’t an enthusiast) had heard of the brand. In fact the local dealer (who sells Tesoro) does everything he can to talk people out of buying a Tesoro. I honestly don’t understand why he carries Tesoro — given the way he treats the brand. That dealer pushes Minelab — hard. Enough so that I’m convinced he makes a bigger margin on Minelab products.
I don’t believe the lack of a screen (most models) was all that harmful to Tesoro. I lend my Compadre out to people who want to try metal detecting and everyone of them has loved that machine. They like the simplicity of the machine, and they love the fact that it finds good targets.
My thoughts on the other brands…
First Texas — I think they’re positioned well for the future. Their entry level machines seem to be fairly dominant and Bounty Hunter is a very well known brand in that market segment. People see their machines in the places they visit — including online — without having to specifically search for metal detectors. Their Fisher and Teknetics brands remain reasonably competitive in the higher end segments and there is a good amount of interest in their yet-to-be-released Manta (or whatever it will be named) on the high end.
Minelab — Lots of money behind the brand. They’re the market leader in higher end machines and advertise quite a lot. I suspect their entry level machines don’t do all that well (market wise) so there is room for improvement — or room for disaster (if they don’t shore that end of the market up). I think Minelab lost margin because of their own product eating sales of their higher end machines, but expect Minelab to roll out a couple of higher end replacements in the next year or so.
Garrett — They seem to have a fair chunk of the entry level market and a pretty decent share of the mid-level market. I think they got a big boost from their sponsorship of various metal detecting shows on television, but that venue appears to be all but gone now. They do a pretty good job with social media marketing though. I suspect they’re disappointed with the sales of the AT Max, and I think the Equinox likely hurt Garrett more than it hurt any other brand.
Whites — I think they need a better entry level marketing plan. Their product (I believe it is called X-venture) isn’t well known and doesn’t appear to have much support from the company. I think Whites is doing ok with their next level machines — Treasure Master and Treasure Pro. I think their strength (sales wise) is with the MX7, MX Sport, MXT All Pro but I suspect they’re not gaining market share (just selling to Whites fans for the most part). Their new gold machine appears to have some support, as does their latest TDI Beach machine, but it is too early to tell if those machines are earning extra sales. I suspect the V3 and V3i are selling rather slowly now — thanks in large part to the Equinox and its lower price(s).
As much as I’d love to see a new waterproof V3i, I think Whites really needs to concentrate on marketing their lower end machines to new buyers and building brand recognition. The brand is very well known with people 40 and over, but the younger generations don’t know as much about it. Whites has a decent social media presence though and a lot of brand loyalty from its users, so it does have the building blocks it needs (if they decide to take advantage of them).
I think Whites should tear a page out of their old book and introduce a throwback machine — no screen, beep and dig machine in a light weight form, multiple tones, manual ground balance, great discrimination machine that retails for $250 - $300. There are a lot of enthusiasts who want such a machine and it would be a great way to get people talking about (and interested in) the brand. If they could make it waterproof that would be icing on the cake. Best of all — they shouldn’t need much R/D to do it, and they could use existing parts for the most part.
Nokta-Makro — Outside of enthusiasts nobody (USA) has heard of the company. Still, I think the company is well positioned to grow their brand. Thanks in large part to their constant innovation and drive to improve their products. They have a decent social media presence and Dilek is worth her weight in gold and then some. With the coming entry level machine, Nokta-Makro should make some inroads into that end of the market, and the developing multi-frequency machine is sure to draw a lot of attention on the other end.
