Study: COVID-19 Present Opportunity for Online Agricultural Retailers

COVID-19 is having a huge impact on farmers' purchasing practices, that according to new research by leading global consultancy, McKinsey & Company. The survey of financial decision-makers at farms across Europe reveals that 95% of farms are considering adjusting purchasing behavior to minimize physical interactions in response to the pandemic. Digital purchasing may provide the answer, with McKinsey uncovering an increase in both farmers' desire to use digital channels to make product-purchase decisions, up from 51% in 2019 to 87%; and their desire to use digital channels to make actual purchases reaching 69%.

However, researchers say only 22% of farmers surveyed have made an online purchase over the past 12 months as of May.

As attitudes shift in response to the COVID-19 pandemic, companies in the agriculture industry have an opportunity to accelerate their online presence, work out omnichannel strategies, and perhaps even change their business models to better meet farmers' needs.

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