![]() What their metric lacks is an understanding of true platform utilization. One could argue it doesn’t matter, but it actually does in terms of what sort of data they are collecting and the habits they are forming with their customers. They emphasize the churn reduction and the increased number of segments purchased by these customers, but without knowing the specifics of how that number is calculated, the number has less relevance as they could simply be their agronomists engaging with their current best customers to do digital initiatives. Is it a farmer that looks at one product online and then their entire annual purchase counts towards that total? Is it an amount entered by their sales person online and confirmed by the farmer logging into the portal? There is no tangible description surrounding it. The $1.2B on the online platform continues to draw questions from readers of Upstream when I touch on it. Could be due to the pandemic, but also in thanks to a focus in North America for them. ![]() $1.2B of digital platform sales smashed their 2020 target of $500 million. Note: This is adjusted to be annualized so their acquisitions put the number higher than $1 million. Nutrien has started to grow their sales elsewhere around the globe This will be helpful from an annual cashflow perspective (Australia and Brazil purchasing inputs at varying times to the Northern Hemisphere), but also a risk mitigation perspective in case of challenges in the USA: This is interesting as we see it obviously become more meaningful and a larger driver of their business. They started showing their financial revenue as well in 2020. Their seed number has been small for a while, but brings to light the dominance of players like Pioneer Hi-Bred in the USA. Margins are obviously much higher on their services, which are the foundation of selling MORE of their core products. Their breakout on margin is (rounded for ease of reading):Ģ8% from financial, merchandise, and services. The remaining 15% came from Nutrien Financial, Merchandise and Services. If you do not wish to receive promotional material or mailings from us please contact us on (03) 9209 2000 or via our website June 2020.35% of their retail revenue was crop nutrients ![]() Loveland Agri Products® and the Loveland Agri Products® device are registered trademarks of Loveland Products, Inc. Evolution is a trademark of Loveland Products. For more information on Loveland Agri Products, contact your local Nutrien Ag Solutions Branch. Available from Nutrien Ag Solutions and marketed under the Loveland Agri Products brand. Where our liability cannot be excluded, it is limited at our option to supplying the relevant services again, or paying the cost of that supply. To the maximum extent permitted by law, and except as prohibited under the Competition and Consumer Act 2010 (Cth), Nutrien Ag Solutions will not be liable for any loss or damage suffered by any person arising out of any reliance on any information, recommendation or advice contained in this publication. No one should rely upon the information contained in this publication without appropriate professional advice regarding relevant factors specific to your situation such as planting times and environmental conditions. Although Nutrien Ag Solutions has taken all due care to provide accurate information in this publication, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. The information provided in this publication is intended as a guide only.
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