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Rural Lifestyle Equipment in North America: A 10-Year Recap of Primary Research & Outlook/Trends

$250.00 (50%)

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Rural lifestyle dealers are forecasting 2023 to be their most unique year in the last decade. These dealers, who serve homeowners, hobby farmers, landscape contractors and municipalities, had a strong 2022, but are predicting new challenges for 2023. After dealing with — and continuing to battle — a mix of supply chain issues, rising interest rates and increasing costs of new equipment, their outlook has shifted vs. previous years.

Some highlights from the latest survey include:

  • Looking at their areas of concern and optimism for the year, aftermarket stands out as a strong revenue opportunity. 
  • In the 2023 Rural Lifestyle Dealer Business Outlook & Trends report, 42% of dealers forecast parts revenue growth of 2% or more, and half expect the same for service revenue.
  • Dealers indicated their 2022 financials were solid. The 2023 report showed 94% made a profit in 2022. A majority of dealers are planning to increase their spending on shop and retail space improvements in 2023. There are concerns, however. 
  • For the first time in 10 years, a majority of dealers expect a decline in total revenue. The most significant factor was wholegoods sales, as 59% expect to see a drop of 2% or more.

Understanding these dealers’ forecasts and concerns — as well as the history of those sentiments — is the key to succeeding in the rural lifestyle market. 

To paint a clearer picture of the new challenges and opportunities dealers are facing, Ag Equipment Intelligence compiled the results of the Rural Lifestyle Dealer Business Outlook & Trends report dating back to 2013. This. never-before-seen analysis breaks down dealers’ forecasted revenue changes, equipment unit sales, brand offerings and more. Data from the latest survey (compiled in January 2023) is segmented to compare equipment dealers who do and do not serve the production ag market and examines the differences in outlook for 2023. 

The insights from this report are intended to help your business understand how to further penetrate the rural lifestyle equipment market and what this niche needs most from their equipment manufacturers and partners.

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