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Which of the following ancillary services do you offer?
 Over
half (55.5%) report offering customers some ancillary service
for a fee. 44.5% report offering no services. Among those
companies offering services, prepaid dial tone and tax preparation (rapid refund)
were most popular.Related: 20% of respondents reported offering Check
cashing or Payday Loans. This is a recent development and
not a welcome one in today's legislative environment.
Do you offer
extended warranties?
 57%
of respondents do not offer extended warranties.
Do you charge for
delivery?
 91.5%
of respondents do not charge for delivery and set-up.
What percentage of your customers rent NEW merchandise until
ownership is acquired?
 Keep
Rate is generally defined as the percentage of customers who
rent merchandise until ownership is acquired. 79.5% of those
responding report a keep rate for New Merchandise of less than
50%. 20.5% report a keep rate exceeding 50%.
Related: Keep rate varies slightly for Used Merchandise that
is generally reduced term (see chart below)
What percentage of your customers rent USED (reduced term)
merchandise until ownership is acquired?
 76.5%
of those responding report a keep rate of less than 50% for Used
Merchandise. 23.5% report a keep rate exceeding 50%.
Related: Used merchandise is generally reduced term (number of
renewal payments required for ownership).
What is your company goal for end of week Card Close? (past
due)
 Card
close is generally defined as accounts past due. 28.5% reported
an End of Week card close goal of between 7% and 9% past
due. 11% reported a goal of 5% or less while 10% reported a goal
of over 13%.
In your opinion, are your company goals for Card Close (past
due)...
 76.5%
feel that their company's car close goal is "about right". 15.5%
felt it should be lower.
Related:
8.3% would prefer more flexibility with collections and rates;
primarily the ability to "work with" past due accounts of select
customers and setting rental rates on used merchandise.
What category of merchandise do you spend the MOST time
servicing?
 44%
reported computers as the category of merchandise they spend the
Most Time Servicing.
What category of merchandise do you spend the LEAST time
servicing?
 36%
reported Furniture as the category they spend the Least time
servicingRelated: This is despite the fact that 67% report
furniture being the Most Difficult Category of Merchandise to
rent as used. (see chart below)
Which category of rental merchandise is more difficult to
re-rent as used?
 67%
report furniture being the Most Difficult Category of
Merchandise to rent as used.
Related: This is likely due to the time and
unique skills necessary for proper refurbishment of upholstered
furniture.
How
often do you visit the RTO Online Website?
 61.5%
report visiting RTO Online (www.rtoonline.com)
Daily or More than Once Per Day.
This concludes the 2003 year end Rent to Own
Industry Poll.
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RTO Online is the official channel for Rent-to-Own Industry News and the
only independent source of news for the rent-to-own, rental-purchase,
lease-purchase trade. RTO Online (Rent to Own Online) represents the choice
of the entire RTO Industry for trusted information, as it happens. |
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