Male Millennial, Gen-X Opps: Tractor Supply turns its focus toward expansion amid spend shifts (Score 54)

Sales lead: Reach out if you can help this company with grand openings. 

• Tractor Supply (TS) recently unveiled details regarding its expansion plans. 
• The company, which currently operates just over 2k stores, is focused on reaching 3k total locations. 
• It plans on opening 90 stores a year by 2025 with plans to open 70 in 2023. 

Target demographic: Gen-X & millennial men

The company will likely:

• Increase promotional activity surrounding new store openings
• Seek additional agency assistance
• Keep moving ad dollars from TV to digital 

Broadcast insights (TV ad creative spend, effectiveness, impressions, and performance)

• YTD spend: TS spent about $1m on national TV ads YTD, just 19% of the $5.2m spent in this channel during the same time period of 2022. 
• 2021-2022 spend: Full-year spend dropped by 58% from $15.6m in 2021 to $6.5m in 2022. 
• Ad programming: It placed ads during programming such as Yellowstone, 1883: A Yellowstone Origin Story, 2023 CMT Music Awards, and PBR Bull Riding. 

Digital and social insights (digital ad spend, effectiveness, impressions, and performance)

• YTD spend: TS spent nearly $17.4m on digital display ads YTD, a 64% increase from $10.6m spent in this channel during the same time period of 2022. 
• YTD data: 2.1b impressions via Facebook (61%), Instagram (15%), YouTube (13%), desktop display (9%), and mobile display ads (2%).  
• 2021-2022 spend: Full-year spend fell by 13% from $23.1m in 2021 to $20.1m in 2022. 
• Ad location: It placed 100% of these ads directly onto sites such as facebook.com, instagram.com, youtube.com, last.fm, and comicbook.com. 

Additional channel insights  

• Vivvix: TS also invests in OOH, print, radio, and local broadcast.

Agency analysis:

• Opportunity: TS may need PR assistance to promote new locations.
• Current roster: 
  • Barkley: creative AOR

Insight Sources: Broadcast insights estimated by iSpot; digital spend insights estimated by Pathmatics; additional channel insights estimated by Vivvix.