Survey: Identifying Future Opportunities

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.