By Jill McClure, CAE
APRO Executive Director
Despite a year of supply-chain strains and hiring challenges, the rent-to-own industry continues to innovate, thrive, and deliver strong momentum into the year ahead
Remember when we were worried that this year might be even worse than 2020?
Well, not to jinx it, but with just weeks left of 2021, I feel fairly confident saying that while this year has had its ups and downs [pandemic surges – boo! widespread vaccinations – yay!], it’s been overall a better year for most.
Of course, 2020 set the bar pretty low.
It has definitely been another positive year on the whole for rent-to-own. Despite the ongoing challenges of supply-chain and hiring issues, business continues to bustle for the industry. And, according to media company Influencer Marketing Hub, some current retail trends are likely to shape the future market – into next year and beyond:
• Strong sales: With more stores opening up, many consumers are buying, bigtime, and they’re spending more on home items than they did pre-pandemic.
• Online shopping: While more customers are returning to in-person stores, online shopping remains robust.
• At-home economy: Consumers have shifted their spending priorities into areas like home improvement and digital products.
• Safe store design: Brick-and-mortar stores are redesigning their spaces to keep customers separated and feeling safe.
• Experience-related shopping: With the rise of e-commerce, traditional stores are working to make shopping with them more than just buying a product; they are providing an experience.
There’s some good news and some great ideas in there for RTO!
And that’s exactly what we hope you’ll find in this issue of RTOHQ: The Magazine – good news and practical ideas. Of course we cover some highlights of the industry’s biggest event of the year: RTO World 2021, live and in-person in Tampa, Florida! RTO World is always exceptional, but reuniting this year, face-to-face and fistbump-to-fistbump, made the whole occasion something extra-special.
Retired Tampa Bay Buccaneers linebacker Derrick Brooks taught us how to tighten up our teams with his spot-on keynote address [“Brooks on the Beam,” page 30], while rent-to-own veteran and former elected official Paul Davis explained why connecting with your local politicians helps protect all RTO businesses [“Local Politics: Level Up,” page 28]. And our awards luncheon featured an ultra-bright spotlight shining on our handful of 2021 APRO Hall of Honor award recipients, including a moving message from a rent-to-own living legend, and a stand-up response right back at him [“Keep Calm & Shine On,” page 22].
Despite the ongoing challenges of supply-chain and hiring issues, business continues to bustle for the industry.
This issue also covers the APRO Board of Directors’ fall meeting and work session, which has our leadership doing some thoughtful consideration of their responsibilities, and how to reshape the association’s mission and goals toward adding even more value to APRO membership [“We Are the Champion,” page 54]. APRO General Counsel Ed Winn III delineates the pros and cons of conducting credit checks for rent-to-own establishments [“RTO & Credit Checks: An Update,’ page 34], as well as how renting mattresses may be not quite a fairytale, but still a worthwhile endeavor [“Closing Remarks: Once Upon a Mattress,” page 60].
Between working-from-home and skyrocketing online shopping, the pandemic has made all of us much more dependent on connective technology – so we cover the critical nature of cybersecurity, especially in the RTO realm [“One. Wrong. Click.,” page 49]. And an issue isn’t complete without another intriguing APROfile – this time around of Aaron’s new General Counsel, Rachel George, and how her natural curiosity has propelled her career right into rent-to-own [“The Case of the Curious Counselor,” page 40]!
All of us here at APRO wish you and yours a safe and healthy holiday season, and a very prosperous 2022!
Jill McClure, CAE
APRO Executive Director
