The US Rent-to-Own Market: Size, Trends and Forecasts (2019-2023 Edition)
SCOPE OF THE REPORT
The report entitled “The US Rent-to-Own Market: Size, Trends and Forecasts (2019-2023 Edition)”, provides an in-depth study of the US RTO industry with comprehensive analysis of market sizing and growth. It encompasses market by value, by volume, market share by segments and by top players and number of stores.
Growth of the US Rent-to-Own (RTO) industry has also been forecasted for the period 2019-2023, taking into consideration the existing growth patterns, the growth drivers and the current & future trends.
The US rent-to-own industry is highly fragmented but dominated by only two major players namely Rent-A-Center and Aaron’s Inc. The report also provides company profiling of Rent-A-Center, Aaron’s Inc. and goeasy Ltd. which briefs about business overview, and financial summary of these major companies.
Company Coverage
Rent-to own refers to 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. Previously, rent-to-own agreements explicitly dealt in the purchasing of homes/property only, but nowadays rent-to-own industry comprises of dealers that rent furniture, appliances, home electronics, and jewelry as well to the consumers.
The rent to own agreement has prospective financial advantages and offer benefits to both owner and renter. In such agreements, the buyers have 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 does not create much financial burden on him/her.
A rent-to-own agreement is made up of two agreements: a standard lease agreement and an option to purchase. A consumer who respects the terms of the contract and pays all rents before acquiring the good leased, generally pays, in total, twice even three times the actual value of the good.
The US rent-to-own market has shown rising trends over the past few years and is projected to progress further during the forecasted period (2019-2023). Growth in the market is supported by growth drivers such as increasing US GDP per-capita, rising international migration in the region, growing smartphone usage among the US population etc. Yet the growth of the market is restrained by some challenges such as consumer protection issue, breach of customer privacy, etc.
The report entitled “The US Rent-to-Own Market: Size, Trends and Forecasts (2019-2023 Edition)”, provides an in-depth study of the US RTO industry with comprehensive analysis of market sizing and growth. It encompasses market by value, by volume, market share by segments and by top players and number of stores.
Growth of the US Rent-to-Own (RTO) industry has also been forecasted for the period 2019-2023, taking into consideration the existing growth patterns, the growth drivers and the current & future trends.
The US rent-to-own industry is highly fragmented but dominated by only two major players namely Rent-A-Center and Aaron’s Inc. The report also provides company profiling of Rent-A-Center, Aaron’s Inc. and goeasy Ltd. which briefs about business overview, and financial summary of these major companies.
Company Coverage
- Rent-A-Center Inc.
- Aaron’s Inc.
- goeasy Ltd.
Rent-to own refers to 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. Previously, rent-to-own agreements explicitly dealt in the purchasing of homes/property only, but nowadays rent-to-own industry comprises of dealers that rent furniture, appliances, home electronics, and jewelry as well to the consumers.
The rent to own agreement has prospective financial advantages and offer benefits to both owner and renter. In such agreements, the buyers have 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 does not create much financial burden on him/her.
A rent-to-own agreement is made up of two agreements: a standard lease agreement and an option to purchase. A consumer who respects the terms of the contract and pays all rents before acquiring the good leased, generally pays, in total, twice even three times the actual value of the good.
The US rent-to-own market has shown rising trends over the past few years and is projected to progress further during the forecasted period (2019-2023). Growth in the market is supported by growth drivers such as increasing US GDP per-capita, rising international migration in the region, growing smartphone usage among the US population etc. Yet the growth of the market is restrained by some challenges such as consumer protection issue, breach of customer privacy, etc.
1. EXECUTIVE SUMMARY
2. INTRODUCTION
2.1 Rent-to-Own
2.1.1 Rent-To-Own: An Overview
2.1.2 Rent-To-Own: Advantages and Disadvantages
2.2 Consumer Protection
2.2.1 Consumer Protection Provision
Federal Laws
States Rent –to-Own Legislation
States without RTO Legislation
2.3 Rent-to-Own Laws
2.3.1 Types of Law
Pricing Restriction
Required Disclosures
2.4 Rent-to-Own Components
2.4.1 Components of Rent-to-Own Agreement
Rental Agreement
Option to Purchase
2.5 Transaction Structure
3. THE US MARKET ANALYSIS
3.1 The US Rent to Own Market: An Analysis
3.1.1 The US Rent to Own Market by Value
3.1.2 The US Rent to Own Market by Volume
3.1.3 The US Rent to Own Market by Number of Stores
3.2 The US Rent to Own Market: Top Players Analysis
3.2.1 The US Rent to Own Market by Revenue
3.3 The US Rent to Own Market: Direct/Kiosk Segment Analysis
3.3.1 The US Rent to Own Direct/Kiosk Segment by Sub-Segments (Furniture, Jewelry, Mattress, Automobile, Cell Phones and Others)
4. MARKET DYNAMICS
4.1 Growth Drivers
4.1.1 Increasing Urbanization
4.1.2 Growing Internet Penetration
4.1.3 Consistent Income Inequality
4.1.4 Improving GDP
4.1.5 Growing Share for Rental Housing
4.1.6 Rapid Pace in Technological Advancements
4.2 Challenges
4.2.1 High Competition
4.2.2 Lack of Customer Security
4.2.3 Competition from Retailers
4.2.4 Low Profit Margin
4.3 Market Trends
4.3.1 Rollout of Smartphone as New Category
4.3.2 Declining Homeownership
4.3.3 Serve Customer through E-Commerce
4.3.4 Introduction of Kiosk Model
4.3.5 Rising International Migration
4.3.6 Rising Virtual Rent-to-Own Market
5. COMPETITIVE LANDSCAPE
5.1 The US Rent to Own Market Players: A Financial Comparison
5.2 The US Rent to Own Players by Market Share
5.3 The US Rent to Own Market Players by Number of Stores
6. COMPANY PROFILES
6.1 Rent-A-Center Inc.
6.1.1 Business Overview
6.1.2 Financial Overview
6.1.3 Business Strategy
6.2 Aaron’s Inc.
6.2.1 Business Overview
6.2.2 Financial Overview
6.2.3 Business Strategy
6.3 goeasy Ltd.
6.3.1 Business Overview
6.3.2 Financial Overview
6.3.3 Business Strategy
2. INTRODUCTION
2.1 Rent-to-Own
2.1.1 Rent-To-Own: An Overview
2.1.2 Rent-To-Own: Advantages and Disadvantages
2.2 Consumer Protection
2.2.1 Consumer Protection Provision
Federal Laws
States Rent –to-Own Legislation
States without RTO Legislation
2.3 Rent-to-Own Laws
2.3.1 Types of Law
Pricing Restriction
Required Disclosures
2.4 Rent-to-Own Components
2.4.1 Components of Rent-to-Own Agreement
Rental Agreement
Option to Purchase
2.5 Transaction Structure
3. THE US MARKET ANALYSIS
3.1 The US Rent to Own Market: An Analysis
3.1.1 The US Rent to Own Market by Value
3.1.2 The US Rent to Own Market by Volume
3.1.3 The US Rent to Own Market by Number of Stores
3.2 The US Rent to Own Market: Top Players Analysis
3.2.1 The US Rent to Own Market by Revenue
3.3 The US Rent to Own Market: Direct/Kiosk Segment Analysis
3.3.1 The US Rent to Own Direct/Kiosk Segment by Sub-Segments (Furniture, Jewelry, Mattress, Automobile, Cell Phones and Others)
4. MARKET DYNAMICS
4.1 Growth Drivers
4.1.1 Increasing Urbanization
4.1.2 Growing Internet Penetration
4.1.3 Consistent Income Inequality
4.1.4 Improving GDP
4.1.5 Growing Share for Rental Housing
4.1.6 Rapid Pace in Technological Advancements
4.2 Challenges
4.2.1 High Competition
4.2.2 Lack of Customer Security
4.2.3 Competition from Retailers
4.2.4 Low Profit Margin
4.3 Market Trends
4.3.1 Rollout of Smartphone as New Category
4.3.2 Declining Homeownership
4.3.3 Serve Customer through E-Commerce
4.3.4 Introduction of Kiosk Model
4.3.5 Rising International Migration
4.3.6 Rising Virtual Rent-to-Own Market
5. COMPETITIVE LANDSCAPE
5.1 The US Rent to Own Market Players: A Financial Comparison
5.2 The US Rent to Own Players by Market Share
5.3 The US Rent to Own Market Players by Number of Stores
6. COMPANY PROFILES
6.1 Rent-A-Center Inc.
6.1.1 Business Overview
6.1.2 Financial Overview
6.1.3 Business Strategy
6.2 Aaron’s Inc.
6.2.1 Business Overview
6.2.2 Financial Overview
6.2.3 Business Strategy
6.3 goeasy Ltd.
6.3.1 Business Overview
6.3.2 Financial Overview
6.3.3 Business Strategy
LIST OF FIGURES
Figure 1: Consumer Protection Provision
Figure 2: Components of Rent-to-Own Agreement
Figure 3: The US Rent to Own Market by Value; 2014-2018 (US$ Billion)
Figure 4: The US Rent to Own Market by Value; 2019-2023 (US$ Billion)
Figure 5: The US Rent to Own Market by Volume; 2014-2018 (Million)
Figure 6: The US Rent to Own Market by Volume; 2019-2023E (Million)
Figure 7: The US Rent to Own Market by Number of Stores; 2013-2017 (Thousand)
Figure 8: The US Rent to Own Market by Revenue (Top Players); 2013-2018 (US$ Billion)
Figure 9: The US Rent to Own Direct/Kiosk Segment by Sub-Segments; 2018
Figure 10: The US Growing Urbanization; 2010-2017 (Percentage, %)
Figure 11: The US Internet Users and Internet Penetration Rate; 2016-2022 (Million)
Figure 12: The US Average Income; 2011-2016 (Percentage, %)
Figure 13: The US GDP Growth Rate; 2013-2017 (Percentage, %)
Figure 14: The US Consumer Expenditure Share; 2015-2017 (US$)
Figure 15: The US Smartphone User Penetration; 2014-2020 (Percentage, %)
Figure 16: The US Homeownership Rate; 1990-2030 (Percentage, %)
Figure 17: The US International Migration; 2015-2045 (Million)
Figure 18: The US Rent to Own Players by Market Share; 2017 (Percentage, %)
Figure 19: Rent-A-Center Inc. Revenue; 2014-2018 (US$ Billion)
Figure 20: Rent-A-Center Inc. Revenue by Segments; 2018 (Percentage, %)
Figure 21: Aaron’s Inc. Revenues; 2014-2018 (US$ Billion)
Figure 22: Aaron’s Inc. Revenues by Segments; 2018 (Percentage, %)
Figure 23: goeasy Ltd. Revenue; 2014-2018 (US$ Million)
Figure 24: goeasy Ltd. Revenue by Segments; 2018 (Percentage, %)
Table 1: Rent-to-Own Advantages & Disadvantages
Table 2: The US Rent to Own Market Players: A Financial Comparison; 2018
Table 3: The US Rent to Own Market Players by Number of Stores; 2018
Figure 1: Consumer Protection Provision
Figure 2: Components of Rent-to-Own Agreement
Figure 3: The US Rent to Own Market by Value; 2014-2018 (US$ Billion)
Figure 4: The US Rent to Own Market by Value; 2019-2023 (US$ Billion)
Figure 5: The US Rent to Own Market by Volume; 2014-2018 (Million)
Figure 6: The US Rent to Own Market by Volume; 2019-2023E (Million)
Figure 7: The US Rent to Own Market by Number of Stores; 2013-2017 (Thousand)
Figure 8: The US Rent to Own Market by Revenue (Top Players); 2013-2018 (US$ Billion)
Figure 9: The US Rent to Own Direct/Kiosk Segment by Sub-Segments; 2018
Figure 10: The US Growing Urbanization; 2010-2017 (Percentage, %)
Figure 11: The US Internet Users and Internet Penetration Rate; 2016-2022 (Million)
Figure 12: The US Average Income; 2011-2016 (Percentage, %)
Figure 13: The US GDP Growth Rate; 2013-2017 (Percentage, %)
Figure 14: The US Consumer Expenditure Share; 2015-2017 (US$)
Figure 15: The US Smartphone User Penetration; 2014-2020 (Percentage, %)
Figure 16: The US Homeownership Rate; 1990-2030 (Percentage, %)
Figure 17: The US International Migration; 2015-2045 (Million)
Figure 18: The US Rent to Own Players by Market Share; 2017 (Percentage, %)
Figure 19: Rent-A-Center Inc. Revenue; 2014-2018 (US$ Billion)
Figure 20: Rent-A-Center Inc. Revenue by Segments; 2018 (Percentage, %)
Figure 21: Aaron’s Inc. Revenues; 2014-2018 (US$ Billion)
Figure 22: Aaron’s Inc. Revenues by Segments; 2018 (Percentage, %)
Figure 23: goeasy Ltd. Revenue; 2014-2018 (US$ Million)
Figure 24: goeasy Ltd. Revenue by Segments; 2018 (Percentage, %)
Table 1: Rent-to-Own Advantages & Disadvantages
Table 2: The US Rent to Own Market Players: A Financial Comparison; 2018
Table 3: The US Rent to Own Market Players by Number of Stores; 2018
