Tractor Supply Company (TSCO - Free Report) and Citi Retail Services, a provider of credit solution in North America, declared new rewards for Neighbor’s Club members holding Tractor Supply Personal Credit Card. These include 5% back in rewards and special financing offers.
The company’s Personal Credit Cardholders, with a membership to Neighbor’s Club, can get 5% back in rewards on regular credit purchases, or avail special financing options. The financing offers include six months financing on purchases of $199 and above, 12 months financing on purchases of $399 and up, and major purchase plans up to 48 months.
Per management, these rewards on Tractor Supply cardholders’ purchases are an alternative way to provide additional service and value to customers. The company is pleased to start this new offering and special financing options for the customers. This offering has been rolled out to celebrate Tractor Supply and Citi Retail’s 20th anniversary of partnership, which is approaching in 2020.
Tractor Supply is consistently expanding its Neighbor’s Club loyalty program, which surpassed its targeted membership growth goals in 2018. Meanwhile, the company’s steady efforts to expand its Stockyard kiosk initiatives are commendable.
Overall, Tractor Supply is focused on integrating its physical and digital operations to offer consumers a seamless shopping experience. Incidentally, the company remains on track with the ‘ONETractor’ strategy that is aimed at connecting store and online shopping. Backed by this initiative, it continues to drive growth, build customer-centric engagement, offer suitable products and services, and reinforce core infrastructure capabilities.
Tractor Supply is also reaping benefits from its mobile point-of-sale and Buy Online Pick Up in Store capabilities. In second-quarter 2019, the company reported double-digit e-commerce sales growth for the 28th straight quarter. Management expects all these strategies to play a major role in enhancing the company’s omni-channel network, and boosting the top line.
Apart from these, Tractor Supply’s Petsense LLC acquisition has strengthened its presence in the flourishing pet specialty space. Currently, the company is focused on expanding the Petsense format in certain geographic markets. Notably, Petsense stores have been delivering positive comparable-store sales (comps), which continued in the second quarter and were in line with the company’s average. The Petsense stores remain focused on building long-term customer loyalty by using digital marketing methods to engage customers, revamp the website and enhance customer rewards program.
A glance at the company’s price trend shows that it has outperformed the industry so far this year backed by the aforementioned efforts. This Zacks Rank #3 (Hold) stock has gained approximately 9% against the industry’s decline of 3.7%.
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