The US Rent-to-Own Market 2020 Growth and Business Developments- Rent-A-Center Inc., Aarons Inc., goeasy Ltd.

The report entitled “The US Rent-to-Own Market: Size, Trends & Forecasts (2019-2023 Edition)”, provides analysis of the The US Rent-to-Own, with detailed analysis of market size and growth. The analysis includes the market by value, by region, by segment, volume by region and by end uses. The report also provides the analysis of the The US Rent-to-Own market of Asia Pacific (APAC), North America, Europe, Middle East & Africa (EMEA), and South America regions.

Market includes analysis of the The US Rent-to-Own market in terms of value followed by analysis of its various segments. A The US analysis of the larger logistics market has also been included in the report in order to highlight the position of Rent-to-Own with respect to the overall market.

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Moreover, the report assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall Rent-to-Own market has also been forecasted for the years 2019-2023, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.

Company Coverage
Rent-A-Center Inc.
Aarons Inc.
goeasy Ltd.

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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.

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