'Leasing' becomes favored term
By Furniture Today Staff -- Furniture Today, March 19, 2006
Atlanta — As the Aaron brand name has grown, more and more of the new stores are going up with just "Aarons" on the exterior, though the company will continue to use "Sales & Lease Ownership" to describe its take on rent-to-own.
"Leasing is a more socially acceptable word than rent-to-own," said Ken Butler, president of the division.
He said renting is not perceived as "a smart thing to do."
"Our customers like the term 'lease.' We're giving them what they want," he said. "It's also bringing in a different (better) demographic to the store."
That, along with locations in the suburbs (instead of stores in poverty-stricken inner cities) has meant that Aaron's is reaching more consumers who just aren't living week-to-week. They're better able to pay monthly or semi-monthly.
Today, some 35% to 40% of Aaron's customers pay by credit card or check, Butler said, adding that credit card usage is up about 50% over the previous year. Now Aarons is getting ready to offer a pay-online option, too.
"Five years ago, I never would have thought that was possible," Butler said.
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