Illustrative AgTech Insights: Influence and the Retail Trusted Advisor
New technologies are not a strength of ag retailers. This raises problems and the need for strategic decisions in the the short term.
In the newest edition of Illustrative AgTech Insights is focused on an aggregation of information, provided by Stratus Ag Research, that illustrates trends in influence of the ag retail professional.
When it comes to informing farmers crop protection, and most crop input decisions, retails are the most influential group of individuals.
Survey data from Stratus Ag Research in 2022 (USA survey) confirms this specifically surrounding crop protection, with almost 92% of farmers saying they consulted with their main retailer to inform their crop protection purchase decisions:
The next highest group, other farmers/neighbors, is cited by less than half as many farmers.
Ag retailers, on average, are competent and comfortable in the realm of traditional crop protection products.
But what happens when we start getting outside the traditional crop protection world what could that mean for the rest of a farmer’s purchase decisions in the future?
Two years ago I wrote about the concept of influence erosion in ag retail, defined as a lessening of power to change or affect a farmer’s decision. I cited the multiple angles that the influence of the retail trusted advisor was getting eroded.
Influence erosion is happening across all product segments, but it is especially prominent in new technology areas, which can bleed to other product segments.
When it comes to farm software decisions, farm equipment dealers were as called upon as retailers and other farmers were called upon even more: