Fender CEO on guitar and amp stock shortages: "We’re not optimistic at this point it’s going to get significantly better for at least two, maybe three, quarters”
Get 'em while you can!The shortages aren't just reportedly affecting guitars but amps too. Mooney confirmed that Fender had increased prices "About 10% over the last 12 months" but it had now slowed demand. "It's truly remarkable, the demand that's out there. People want to use their time at home wisely and invest in activities that they really feel good about."
Mooney also revealed to CNBC that Fender had recently conducted research that found there had been "16 million new entrants" picking up the guitar since the pandemic began. That's whopping 7% of the population. This unprecedented demand has had a direct impact on company's ability to meet it.