As part of the State Of The Industry report, we surveyed retailers to find out what they considered to be their most important business challenges over the next 2 to 3 years. In the survey, respondents rated several business issues on a scale from 1 (not a threat) to 5 (major threat). Here is a brief summary of our findings:
- Competitor Issues. More than 30% of survey respondents said broker-type sales of crop inputs by retail competitors is a “major threat” to business.
- Customer Issues. More than 60% of our respondents indicated financial pressure on farmers is a moderate (4) to major (5) threat to their business.
- Manufacturer/Distributor Issues. Direct sales to farmers by manufacturers of crop inputs is a major threat, according to 41% of survey respondents.
- Technology Issues. More than 60% of respondents said market uncertainty about acceptance of GMO products is little (2) to no threat (1) to their business.
- General Issues. Access to quality labor/employees is considered a moderate (4) to major (5) threat to business by more than 70% of survey respondents.