The US Rent-to-Own Market: Size, Trends and Forecasts (2016 - 2020)
Scope of the Report
The report entitled “The US Rent-to-Own Market: Size, Trends and Forecasts (2016 - 2020)”, provides an in-depth study of the US RTO industry with comprehensive analysis of market size and growth, market share and consumer behavior analysis. The analysis encompasses market by value, by volume, market share by top players & product categories and a thorough study of the US RTO industry customer profile.
A detailed analysis of the consumer profile has been discussed in the report. Outline of the customers is portrayed on the basis of age, income & ethnicity and residence status.
Additionally, the report outlines the factors that will help the market to grow in the forecasted period. It assesses the key opportunities available in the market that boost the market in the coming years. Growth of the US RTO industry has also been forecasted for the period 2016-2020, taking into consideration the existing growth patterns, the growth drivers and the current & future trends.
The US rent-to-own industry is dominated by only two major players namely Rent-A-Center and Aaron’s Inc. A brief company profiling of Rent-A-Center, Aaron’s Inc. and goeasy Ltd. Has been provided in the report. This section briefs about business overview, financial summary and business policies of these major companies.
An agreement in which the buyer has the option to become the owner of the property/goods, after a certain period of fixed time and payment is known as rent-to-own agreement. Also known as lease-to-own agreements, customer has the option to purchase the rental property. Previously, rent-to-own agreements specifically deal in the buying and purchasing of homes/property only but nowadays rent-to-on industry consists of dealers that rent furniture, appliances, home electronics, and jewelry to consumers.
The agreement has prospective financial advantages and offer benefits to both owner and renter. In such agreements, the buyers can immediate access to household goods for a relatively low week or monthly payment, typically without any down payment or credit check. As the buyer has to make a small payment weekly/monthly, so it doesn’t create much financial burden on him/her.
The US rent-to-own market is growing with significant growth rate over the past few years and is expected to improve further during the forecasted period (2016-2020). Growth in the market is supported by growth drivers such as growing urbanization rate in the US, nation’s improving GDP, high income disparity between low and high level income population and technological advancements etc.