In this Placer Bytes, we dive into the performance of Dick’s Sporting Goods and break down the newest addition to the Tractor Supply kingdom.
Dick’s Sporting Goods Continues to Impress
Dick’s Sporting Goods is an especially impressive brand and the company’s offline recovery was – even amid COVID circumstances – certainly predictable. But the period from November 2020 through January 2021 may actually be one of the strongest testaments to the brand’s unique reach. Dick’s saw visits decline 30.5% year over year in November as holiday visits were hammered by a resurgence of COVID cases.
Yet, the brand didn’t just see a minor recovery but instead watched visits surge to just 7.4% down year over year in December and 4.5% down in January 2021. In fact, visits to Dick’s Sporting Goods locations rose 73.8% between November and December. This showed a uniquely strong ability to overcome an environment where visits had just declined because of a COVID resurgence, but also to adapt to these challenging circumstances by driving more impact in December, when November visits had been hit so hard.
And this continued into January where visits were down just 4.5%, the second-lowest visit gap since the onset of the pandemic. But the number becomes all the more impressive when it receives a wider context. While visits were down 4.5% year over year in January 2021, compared to January 2019, when visits were up 5.9%.
This might be the strongest indicator of what the brand is likely to achieve in the coming months and year. Dick’s is well aligned with key trends like a greater focus on health and wellness and a push towards more casual athleisure style apparel offerings. Should the brand prove capable of further leveraging these trends and continuing to effectively adapt, the rest of 2021 could see especially strong results.
Tractor Supply’s Newest Asset
Tractor Supply has been one of the strongest home improvement performers throughout the pandemic, and that strength has lasted into 2021. But instead of resting on its laurels, the home improvement leader is making bold moves. It recently acquired Orscheln Farm & Home to expand its reach into the midwest. Considering the momentum the brand has been riding, the move could be very exciting.
Visits to Orscheln locations were generally down year over year throughout 2019 and early 2020, but that shifted during the pandemic. Since April 2020, the brand saw just one month where visits weren’t up year over year. If Tractor Supply proves capable of helping these locations build on that momentum, the push to become the third player in a Home Depot and Lowe’s dominated category, might just heat up.
Will Dick’s Sporting Goods continue to impress in 2021? Will Tractor Supply’s acquisition help the brand reach new levels of growth?
Visit Placer.ai to find out.