At Extreme Investor Network, we pride ourselves on bringing you the latest and most valuable information in the world of money and investments. Today, we want to share with you some fascinating insights from Tractor Supply’s CEO, Hal Lawton, who recently appeared on CNBC’s Mad Money with Jim Cramer.
Lawton discussed how a significant number of Americans are choosing to move out of cities and head to rural areas. He emphasized that rural America is thriving and growing, with a notable influx of people from urban areas. This migration trend has been accelerated by the pandemic but continues to persist.
One key factor driving this migration is the availability of affordable housing options in rural areas. Millennials, in particular, are finding budget-friendly homes in these regions, especially as they face high mortgage rates in urban centers. Additionally, many young homeowners appreciate the lifestyle aspects of rural living, such as the ability to grow fresh produce and even raise backyard chickens.
Speaking of chickens, Lawton highlighted how these feathered friends have become a surprising source of growth for Tractor Supply. He shared that one in five customers in the company’s loyalty program, Neighbor’s Club, owns chickens, underscoring their popularity. Chickens are not just pets but also a unique retail attraction, drawing customers to Tractor Supply stores to see the live animals in action.
Beyond the chicken craze, Tractor Supply has been navigating changing consumer spending habits, with a shift from goods to services. Despite these challenges, Lawton expressed optimism for the company’s future, noting that they can see light at the end of the tunnel against prevailing headwinds.
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