As part of the State Of The Industry report, we surveyed retailers to find out what they considered to be their most important business opportunities over the next 2 to 3 years. In the survey, respondents rated several areas on a scale from 1 (not an opportunity) to 5 (major opportunity). Here is a sampling of our findings:
- Agronomic Issues. Twenty-five percent of survey respondents said site-specific (precision) agricultural services and information (other than application) is a major opportunity for their business.
- Manufacturer/Purchasing Issues. More than 45% of our respondents indicated pooling purchasing power with other retailers was a moderate (4) to major (5) opportunity for their business.
- Market Issues. Growth driven by exit of other retailers in their market was considered by nearly half (48%) of respondents as a moderate (4) to major (5) opportunity for their business.
- New Business Models/Operating Efficiencies. Half of respondents said using the Internet as a way to improve customer relationships was a moderate (4) to major (5) opportunity for their business.
- Products. Only 13% of respondents said providing farm management/recordkeeping services has no opportunity for their business.