Survey: Identifying Business Challenges
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.