Tractor Supply looks to attract small business suppliers

In an effort to support local businesses, the retailer is opening applications to bring in suppliers in categories like lawn and garden and home decor.

With its “Growing Life Out Here” initiative, Tractor Supply is among an expanding list of retailers seeking to diversify their supplier pools.

Last month, Walmart began accepting applications from small businesses for its tenth annual Open Call event to pitch their products to sell on its website or in Walmart or Sam’s Club brick-and-mortar stores. In a similar move, Dollar General also opened applications for new suppliers this summer in a bid to diversify its supplier network and plans to hold virtual meetings with businesses between Sept. 25 and Sept. 29.

Target has sought to diversify its suppliers as well, whether through its Target Plus initiative, which selects and sells products from third-party companies on its website, or through programs specifically concentrated on Black-owned businesses. The retailer has a goal of spending more than $2 billion with Black-owned businesses by the end of 2025. In 2021, the retailer co-created a “Bet on Black” competition series, which offered mentorship and $500,000 in funding to 12 Black-owned businesses.

As Tractor Supply seeks new suppliers for its business, the retailer is plotting its store expansion. In its Q2 earnings report in July, Tractor Supply said it aims to open 80 new stores next year and 90 new stores per year starting in 2025. The retailer also reported a 7.2% bump in revenue, but it reduced its revenue guidance for the year.