The growth of rent to own at retail outlets is a good indicator of how far the rent-to-own industry has come along.
Austin, TX (PRWEB) April 04, 2013
At the recent March Nationwide Marketing Group conference, leaders in the home furnishing retail industry talked about the increased demand by consumers using the rent-to-own transaction to obtain their home furnishings.
Whether driven by economic factors that put traditional financing out of reach or by the demands of an increasingly mobile society that is inconvenienced with outright purchase and ownership, all signs point to a rental renaissance that is giving a new generation of consumers and dealers a fresh look at rent-to-own.
And, retailers are taking note.
Retailers such as Rooms To Go, Ashley Home Furniture stores and even grocery stores are using rent-to-own kiosk programs to decrease financing turn downs for the identified millions of Americans who fit the rent-to-own demographic. In the process, they are elevating the image of the rent-to-own transaction to that of a viable option in the home furnishing marketplace.
Approximately 100 million customers do not qualify for standard retail financing. Instead of letting them walk out the door, potentially to the nearest brick and mortar rent-to-own store, retailers are now offering rent-to-own within their stores as well.
As decades of public relations and education campaigns to improve the RTO image with the media, legislators and consumers meets headlong with economic demand, RTO is poised to grow like never before.
To further anchor the transition in the mainstream, the national trade association for the rent-to-own industry (APRO) launched a consumer-facing website, ShopRTO.com that constructively positions the RTO transaction within the context of affordable home furnishings, design and financial management tips.
ShopRTO.com also positions the rent-to-own industry in today’s modernized retail shopping where industry statistics show 95% of consumers use the Internet as the first step when shopping for home furniture, flat-screen TVs, computers, refrigerators and most everything for the home.
“The growth of rent-to-own at retail outlets is a good indicator of how far the rent-to-own industry has come along,” states APRO President David P. David and President of American Rental in Bloomington, IN.
“When you see us side by side with retail, that puts us in a really different light. Like we've been saying all along, we are one option among many and we do everything we can to earn and keep your business."
“It's a challenge sometimes to break out of old ideas, old patterns that may have worked at one time, but you have to embrace change, especially today. We're not the only game in town anymore and if a customer can walk into a spacious and beautiful retail show room like their neighbor, but use rent-to-own there, why wouldn't they?"
ShopRTO.com is the latest tool the rent-to-own industry trade association is using to show how progressive the rent-to-own industry has been in modernizing its products, pricing, stores and image.
The widespread growth and acceptance of the transaction by both consumers and retailers over the past five years points to the significant progress the rent-to-own industry has made as a whole, David says.
ShopRTO.com provides affordable home furnishings and living tips for Americans, and when rent-to-own may be right for their home shopping choices.