Retailers Expect Growth in Precision Farming

Nationally, the last few years have been a challenge in the precision farming industry.  But, that may soon change.  Precision Farming Dealer reports that dealers all over the country have been navigating the instability in commodity prices and cautious buying habits of their customers.  The fifth annual Precision Dealers Benchmark Study has a more optimistic tone to it than recent years.  Retailers are more optimistic about revenue expectations and business objectives.

Dealer responses from 28 states and Canada showed 23% of dealers showing growth of 8% or more, more than doubling the 10% of dealers projected a year earlier.  On the other end of the spectrum, 8% of dealers reported revenue dips of 8% or more.  It’s the first time in three years that the percentage of dealers experiencing revenue drops was in single digits.

Looking ahead, 59% of all dealers forecast at least a 2% gain in revenues this year.  Only 11% of dealers in the study are predicting a revenue drop of at least 2%, the lowest number of dealers in the study’s history.

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