The Ag market is changing. For one, more Millennials and Generation Z are entering the market, both as dealer employees and as customers. These new customers bring their own set of expectations for what customer service looks like. Dealers will need to adapt their sales and marketing strategies to meet the expectations of demographics who are used to experiencing the world through a digital lens.
A lot of people are moving into our area in Western Colorado from the cities, so there’s a lot of people who have extra spendable money. The demand for [equipment] is far beyond anything we’ve seen, with people spending money right on the spot.
DYLAN COLEMAN Western Implement
The COVID-19 pandemic caused an influx of people to leave the city and move to more rural communities. Those people are buying equipment for their properties. In general, this demographic is higher-income earners, making their buying habits different from the demographics dealers may be used to. These buyers are not deliberating as much over purchasing as people have in the past. They’re buying equipment like compact tractors with implements to care for their properties, often RENTAL EQUIPMENT DEMANDS With the price of new farm equipment on the rise, more people are turning to used and rental equipment as their best option. MarketWatch reports that the global farm equipment rental market is expected to grow more than 7% through 2027 and is set to reach a market value of more than $78.5 billion during that time ( Source ). Dealers who don’t currently offer rental or used equipment may want to consider them as alternate revenue streams. According to a DIS survey of Ag dealers across North America, 54% of respondents currently offer rental and
on the spot. What’s more, these buyers are used to the proactive communication they get from businesses in other industries. The more personalized an experience you can create for customers at your dealership, the more trust you can build with first-time buyers early on. Tools like DIS MyPortal give customers more visibility throughout the sales and service cycle and help your team maintain ongoing communication with them.
used equipment at their dealership, and 11% plan on adding used or rental equipment in 2022 .
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