How Tractor Supply delivered triple-digit growth

With Net Sales increasing by 42.5%, how does Tractor Supply keep growing? 

16 months ago, Tractor Supply brought in CEO Hal Lawton, the former President of Macy’s. With Covid dampening sales, Lawton made substantial investments in digital offerings and e-commerce capabilities. Those investments have paid off handsomely.

For 4 consecutive quarters, the company’s e-commerce division has seen triple-digit growth, boosting Net Income 116.5% from $83.8 million in 2020 Q1 to $181.4 million in 2021 Q1.

Tractor Supply describes itself as “the largest rural lifestyle retailer in the United States, serving recreational farmers, ranchers, and those who enjoy the rural lifestyle.”

It’s clear from Tractor Supply’s performance, that e-commerce and technological innovation is happening in every industry, and those at the cutting edge are reaping serious first-mover advantages.

Will rental companies that take advantage of e-commerce technology see similar growth?

Source: BusinessWire

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About the Author
Kyle Clements
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Kyle Clements is the Founder & CEO of Quipli, a provider of full rental e-commerce experiences for independent rental companies. Kyle has a decade of software startup experience and has been part of several successful ventures that have become publicly traded or been privately acquired, such as Uber and Clutch Technologies. In the past few years, Kyle has completed hundreds of customer interviews understanding needs and trends in the growing rental market. Kyle brings a unique perspective to the rental industry and is passionate about partnering with rental companies, from upstart rental companies to 8-figure rental businesses, to run their operations more effectively and assist them in creating an impactful experience for their customers.

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Quipli is a U.S.-based maker of advanced software that lets independent rental companies accept customer orders and receive payments online, as well as gain unprecedented control over rental inventories, scheduling, and much more.

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