Down on the Farm, a Simple Retail Formula Still Works
How Tractor Supply thrives and multiplies in rural America.
by Retail Strategies, September 28, 2019 [link]
A retail company based in Brentwood, Tennessee, is using a tried-and-true real estate strategy to grow its customer base in the American Heartland. From the factory to the farm, consistency has become the hallmark of progress and profitability for Tractor Supply Co. and its stores.
Founded in 1938, Tractor Supply Co. (TSC) now counts more than 1,900 stores in 49 U.S. states. Says CEO Greg Sandfort, “Our belief is that in our segment, with the customers we serve, we are going to be the holistic solution, period.”
With sales per square foot of $267.53 in 2018 and an average store sales revenue of $4.08 million last year, Tractor Supply is thriving because it is a company that understands what its customers want and need to buy.
Moreover, TSC is a company that sticks to a real estate plan and grows with a strong real estate strategy. “In a world where some companies try to over-innovate or keep up with the Joneses, TSC has been true to their brand and their customers and it’s paid off,” says Courtney Hall, chief marketing officer of Retail Strategies.
If you don’t like surprises, then you will love TSC; they constantly produce growing earnings.
Bill Read, EVP, REtail Specialists
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Research
Retail Strategies produces original retail research, with articles published by our president, Lacy Beasley, and regular reports on trending retail topics.
