Tractor Supply Co. reaped record profits by becoming the Peloton of rural America

Bringing the tractor factor... minus the tractor. Hardware chain Tractor Supply Co. sells tractor-adjacent products like animal feed, tractor apparel, and anything that caters to the “tractor lifestyle.” Turns out, the tractor lifestyle has been booming: TSC reported record profits last quarter after a pandemic-fueled boom in DIY projects.

Like the Peloton of farmland... TSC has created a lifestyle brand focused on community — in its own words: "a rural lifestyle brand." TSC differentiates itself from competitors like Home Depot and Lowe's by prioritizing farm-specific needs. A few features of its lifestyle strategy:

• Experts: Just like Peloton hires aspirational instructors, TSC hires “lifestylers” with ranching and farming backgrounds to establish credibility. A description of one employee: "farmer's daughter, barrel racer."
• Events: Instead of doubling down on e-marketing, TSC partners with local orgs to host on-site events like pet clinics for your cow. As one employee put it: "Learn their pet's name, and you've got a customer for life."
• Community: TSC opens stores in areas with high concentrations of cattle farmers, and has expanded its fast-growing “Neighbor's Club” loyalty program, which already has 21M+ members.