Expion360 Announces New Online Retail Partnership with Tractor Supply Company
Expion360 (Nasdaq: XPON) has announced a new e-commerce partnership with Tractor Supply Company. This collaboration will make Expion360’s lithium-ion batteries and accessories available online to customers in 49 states starting June 2024. Tractor Supply, the largest rural lifestyle retailer in the US, operates over 2,200 stores and offers a variety of products for automotive, RV, camper, and marine applications. Expion360’s offerings will include Group 24 and Group 27 batteries, the Aura Power Cap, and a portable solar bundle. CEO Brian Schaffner highlighted the partnership as a significant growth opportunity, enhancing Expion360’s market presence and making their advanced battery technology accessible to a broader audience.
- New partnership with Tractor Supply expands Expion360’s market reach to 49 states.
- Expion360 products to be available on the largest rural lifestyle retailer's e-commerce platform.
- Tractor Supply operates over 2,200 stores, providing significant exposure for Expion360.
- Expion360's innovative products to be marketed to Tractor Supply's established customer base.
- Potential increased competition in the battery and accessories market.
- Reliance on Tractor Supply’s e-commerce performance for sales.
- No immediate financial impact or revenue projections provided.
Insights
Expion360's partnership with Tractor Supply Company is a strategic move aimed at expanding their market reach. Tractor Supply, with over 2,200 stores and a robust online presence, caters to a substantial rural customer base. By leveraging this retail giant's platform, Expion360 can tap into a diverse demographic including recreational farmers, ranchers and homeowners.
The primary advantage for Expion360 lies in increased visibility and accessibility. The partnership means their products will be available to a wider audience, potentially driving sales volumes and brand recognition. Additionally, the online availability across 49 states signifies a substantial expansion in geographical reach.
However, it is essential to consider the competitive landscape. Expion360 will be entering a market segment already saturated with various battery products. Their ability to distinguish themselves through product innovation and competitive pricing will be critical in capturing market share. Success will depend on how well they can articulate the superior features of their lithium-ion batteries compared to existing options.
In the short term, this partnership is likely to boost Expion360’s sales as the products become accessible to Tractor Supply’s established customer base. Long-term success will hinge on sustained consumer interest and positive feedback, which will influence repeat purchases and brand loyalty.
From a financial perspective, this partnership has the potential to positively impact Expion360's revenue streams. The scale of Tractor Supply’s operations provides a significant platform for sales growth. Increased online sales could lead to improved cash flow and profitability, given the lower overhead costs associated with e-commerce compared to brick-and-mortar retail.
It's worth noting that Expion360 will need to manage production and supply chain logistics effectively to meet the anticipated increase in demand. Any disruptions could affect their ability to capitalize on this opportunity fully. Additionally, the partnership might involve initial investments in inventory and marketing, which could impact short-term financials but are likely essential for long-term gains.
Investors should also consider Expion360's ability to maintain favorable margins. The competitive pricing strategies required to attract Tractor Supply’s cost-conscious customers could pressure margins. Effective cost management and economies of scale will be important in maintaining profitability amidst increased volume sales.
Lithium Batteries and Accessories Will Be Available Online to Customers in 49 States
REDMOND, Ore., May 16, 2024 (GLOBE NEWSWIRE) -- Expion360 Inc. (Nasdaq: XPON) (“Expion360” or the “Company”), an industry leader in lithium-ion battery power storage solutions, announced a new e-commerce retail partnership with Tractor Supply Company (“Tractor Supply”), the largest rural lifestyle retailer in the United States, to offer Expion360 products online for shipment to customers in 49 states.
For more than 85 years, Tractor Supply has been passionate about serving the needs of recreational farmers, ranchers, homeowners, gardeners, and pet enthusiasts. Tractor Supply operates over 2,200 stores in 49 states and its e-commerce website, and currently sells a wide variety of parts, accessories and batteries for automotive, RV, camper, and marine applications.
Beginning in June 2024, Expion360 products are expected to be available on Tractor Supply’s website, including Group 24 and Group 27 batteries, Aura Power Cap and our portable solar bundle to start.
"Our partnership with Tractor Supply represents an exciting opportunity to bring Expion360’s advanced battery technology to more consumers across the country and expand our market presence," said Brian Schaffner, Chief Executive Officer of Expion360. "We believe this collaboration marks an important milestone for Expion360, with our innovative products accessible through another major retail outlet and the largest rural lifestyle retailer in the US. We believe our lithium battery line and accessories will be attractive to Tractor Supply customers shopping online to outfit and upgrade their outdoor lifestyles.
“Tractor Supply customers’ needs are dynamic, and we are excited to begin serving the recreational farmers, ranchers and homeowners that rely on Tractor Supply to support and maintain their rural lifestyle,” concluded Schaffner.
For more information about Expion360 and its range of products, please visit www.expion360.com.
About Tractor Supply Company
Tractor Supply (Nasdaq: TSCO) is the largest rural lifestyle retailer in the U.S., ranking 291 on the Fortune 500. Tractor Supply’s more than 50,000 team members are known for delivering legendary service and helping customers pursue their passions, whether that means being closer to the land, taking care of animals or living a hands-on, DIY lifestyle. In store and online, Tractor Supply provides what customers need – anytime, anywhere, any way they choose at the low prices they deserve. As of March 30, 2024, Tractor Supply operated 2,233 stores in 49 states. For more information on Tractor Supply, visit www.tractorsupply.com.
About Expion360
Expion360 is an industry leader in premium lithium iron phosphate (LiFePO4) batteries and accessories for recreational vehicles and marine applications, with residential and industrial applications under development. On December 19, 2023, the Company announced its entrance into the home energy storage market with the introduction of two premium LiFePO4 battery storage systems that enable residential and small business customers to create their own stable micro-energy grid and lessen the impact of increasing power fluctuations and outages. Please find the press release here.
The Company’s lithium-ion batteries feature half the weight of standard lead-acid batteries while delivering three times the power and ten times the number of charging cycles. Expion360 batteries also feature better construction and reliability compared to other lithium-ion batteries on the market due to their superior design and quality materials. Specially reinforced, fiberglass-infused, premium ABS and solid mechanical connections help provide top performance and safety. With Expion360 batteries, adventurers can enjoy the most beautiful and remote places on Earth even longer.
The Company is headquartered in Redmond, Oregon. Expion360 lithium-ion batteries are available today through more than 300 dealers, wholesalers, private-label customers, and OEMs across the country. To learn more about the Company, visit expion360.com.
Edge, VHC, Vertical Heat Conduction and SmartTalk are trademarks of Expion360.
© 2024 Expion360. All rights reserved.
Forward-Looking Statements and Safe Harbor Notice
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements are subject to considerable risks and uncertainties. The Company intends such forward-looking statements to be covered by the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release, including statements about our beliefs and expectations, are "forward-looking statements" and should be evaluated as such. Examples of such forward-looking statements include statements that use forward-looking words such as "projected," "expect," "possibility,” “believe,” “aim,” “goal,” “plan,” and "anticipate," or similar expressions. Forward-looking statements included in this press release include, but are not limited to, statements relating to the Company’s anticipated timing of commercial availability of its products on Tractor Supply’s website and beliefs about its customer base and market opportunity. Forward-looking statements are subject to and involve risks, uncertainties, and assumptions that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements predicted, assumed or implied by such forward-looking statements.
Company Contact:
Brian Schaffner, CEO
541-797-6714
Email Contact
External Investor Relations:
Chris Tyson, Executive Vice President
MZ Group - MZ North America
949-491-8235
XPON@mzgroup.us
www.mzgroup.us
FAQ
When will Expion360 products be available online at Tractor Supply?
What products from Expion360 will be sold on Tractor Supply's website?
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