Farmer brand loyalty remained relatively consistent in Ag Equipment Intelligence’s latest brand loyalty report with 63% of farmers identifying themselves as brand loyal.

Brand loyalty saw a slight improvement in 2024 after an over 12 point drop in 2020. However, the 2024 brand loyalty study conducted by Ag Equipment Intelligence shows farmers brand loyalty has not returned to the peak seen in 2017 when 75% of farmers identified themselves as brand loyal.

Much like with the 4 previous brand loyalty surveys, dealers continue to play an important role in establishing and building loyalty to the brands of equipment they represent. Of the top 5 factors that would cause a farmer to switch brands, the dealer is directly responsible for at least 3 of them: parts availability, better dealer repair/service, product specialists at the dealership.

The one factor that manufacturers have sole responsibility for in the top 5 when it comes to why a farmer would consider switching brands is product engineering, which came in at #2  with 97.0% of farmers saying it was somewhat important or very important. This is in line with where product engineering ranked in the 2020 Brand Loyalty study. 

Pricing continues to rank high in the factors that would get a farmer to change brands, but according to the results of the 2024 survey, the price of new equipment dropped in importance to #4 from #3 in the last study. While the manufacturer establishes the base price of the machinery it produces, the dealer can also influence what the farmer is ultimately asked to pay for new ag equipment. 

The full Brand Loyalty Report is available for order at AgEquipmentIntelligence.com.

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