Rent-to-Own Buying Group Sees Evidence of Strong 2010
After a tough 2009, there is talk among independent rent-to-own and retail dealers that a corner has been turned. "Purchasing patterns indicate a solid first and second quarter," James MacAlpine, executive director of RentDirect Nationwide told RTO Online Sunday.
MacAlpine went further, predicting that the 4th quarter of 2010 will be the strongest since 2007, driven primarily by demand for the next big thing in technology. "LED and 3D will begin to really take hold in the second half of 2010." MacAlpine noted that fresh demand for LED and 3D also represents a welcome opportunity for increasing APU.
Appliance sales have leveled off after a period of decline and furniture is beginning to move again. "This (Q1 2010) will be the best quarter ever in the 30 year history of our company," said Lynn Reed, owner of The Appliance Center in Salina Kansas.
Reed began seeing signs of a turnaround in mid 2009, reporting year over year increases every month since August. Appliance Center offers customers both retail and rent-to-own options. Reed says the split is 55% retail and 45% rental. See our exclusive profile of Lynn and Jan Reed.
Nationwide Marketing Group, parent company of RentDirect, kicked off it's PrimeTime! buying show at the MGM Grand in Las Vegas Sunday with inspirational speaker Kris Kuester and Sand Animation Artist Mark Demel.
Robert Weisner, executive vice president of Nationwide, announced during his address that Nationwide Marketing Group will be named Energy Star Retailer of the Year. Energy Star ratings are becoming increasingly important to cost-conscious consumers. Weisner said the award will give a competitive advantage to Nationwide members.
Attendance at this PrimeTime! is high - 3,300 people representing 825 independent retail and rental dealers registered for the event, the second highest attendance in a decade according to Weisner. See full attendance breakdown below.
Over 140 rent-to-own dealers representing 110 companies will attend PrimeTime!, the highest number on record. MacAlpine credits aggressive vendor specials and improved member communication for the increase in attendance. Nationwide held a series of conference calls and webinars in the months leading up to this week's show to better inform dealers of new programs and specials.
RTO Online will broadcast a continuous live video feed from the PrimeTime! tradeshow floor Monday 10:00 AM - 6:00 PM and Tuesday 10:00 AM - 5:00 PM. Video will be available on our homepage. Please check www.rtoonline.com for updates.
Attendance Breakdown:
Total individuals registered for the show - 33000
Total member dealer companies represented - 825
PrimeTime! University
Total number of individuals registered for PTU - 1990
Total number of PTU courses - 12
RentDirect
Total member dealers - 140
Total companies represented - 110
SEN
Total member dealers - 240
Total companies represented - 200
