Rent-to-own News

Rent-to-own News - Consumers to save money this tax season

February 22, 2012

Retailers hoping to see a boost in sales this tax season may be out of luck as more Americans this year plan to save their refunds, according to Retailing Today.

The National Retail Federation's tax returns consumer survey, conducted by BIGinsight, found that 43.8% of those expecting refunds will save some of that money, up from 42.l% who said so last year and the most in the survey’s nine-year history. Two-thirds (66.2%) of tax payers are expecting a refund this year, the exact same as last year.

“After a rocky few years, consumers are now more vigilant about how they spend their money and the importance of preparing for future financial stability,” said NRF president and CEO Matthew Shay. “Increased consumer savings proves extremely beneficial to shoppers and businesses in the long run, allowing future opportunities to invest in a large household item or even take advantage of a well-deserved family vacation.”

The majority of consumers who expect a refund (39.4%) said they will use some of the money to pay down debt and 28.7% plan to use their “free cash” for everyday expenses. A few will use their refund for a major purchase, such as a car or new television (12.3%) and vacation (11.3%).

No matter how they choose to spend their tax refunds, Americans want them sooner than ever. According to the survey, 64.4% of Americans will have filed their taxes by the end of February, the highest since 2006. An additional 21.3% will file in March and 14.3% will wait until the last minute and file in April.

Although the survey indicates that more Americans will save their money this year, it's easy to underestimate people's urge to spend after getting a big refund check from the government.

About APRO
The Association of Progressive Rental Organizations is the official voice of the rent-to-own industry and the most accurate and trustworthy source of rent-to-own news in the industry. Founded in 1980, APRO is the national, nonprofit trade association advocating and representing the rent-to-own industry before the U.S. Congress, state legislatures, courts, media and the public.

For more information, visit www.rtohq.org.

2012 APRO Convention and Trade Show

July 24-26, Memphis, TN

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Featured APRO Photo:
From the Florida Rental Dealers Association Annual Meeting, Tampa, Sept. 26-27 Album
Florida Rental Dealers Association Annual Meeting, Tampa, Sept. 26-27
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RTOHQ: The Magazine
RTOHQ: The Magazine is the Association of Progressive Rental Organizations' award-winning rent-to-own industry magazine, and it's available here.

CLICK HERE FOR OUR DIGITAL RTOHQ: THE MAGAZINE

RTOHQ: The Magazine’s upgraded digital format

APRO's new, mobile-ready magazine is now available in addition to our print edition. The digital format provides the same informative content as our printed magazine, but also offers tools to make the reading experience more enriching. Access the table of contents page with one click or tap. Get additional information from advertisers by clicking on the links in their ads. The interface is easy to navigate and requires no special app—read our magazine on your computer, digital table or smartphone. Click here to access the digital version of RTOHQ: The Magazine March-April 2012.

A New Rent-to-Own Experience

by Neil Ferguson

Here’s the lowdown on APRO’s 2012 Convention and Trade Show, July 24-26 in Memphis. The RTO industry’s big event will offer many valuable experiences, including insights on how to turn your stores into “experiences”–the good kind for consumers

Who Is Your Competition?

by Bill Keese

In order to expand your customer base, you can learn a lot by observing your competitors. But first, you need to figure out just who they are. If you think your only competition is the rent-to-own store down the street, you’re not considering the bigger picture. APRO’s executive director offers a big-picture perspective.

A Review of Online Customer Complaints

by Ed Winn III

While rent-to-own companies have not cornered the market on negative reviews posted on consumer complaint websites, it’s no surprise that there are cyberspace beefs against RTO. APRO’s general counsel reviews some of them in search of a pattern and he considers appropriate response to online complaints.

Rent-to-Own Families, Part VIII

by Kristen Card

Our series of family-run rent-to-own businesses continues with profiles of the Homeiers in Kansas and two Texas-based sets of kindred colleagues, the Spangles and the Weisblatts.

Future issues of APRO's magazine will be available in this same new format. Click here to access past issues that are not yet archived in the new interface.

Association of Progressive Rental Organizations
1504 Robin Hood Trail
Austin, Texas 78703
800/204-2776, ext. 103
Fax 512/794-0097