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- How Does Lease-to-Own Work for Retailers?
How Does Lease-to-Own Work for Retailers?
Oct 02, 2023
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The lease-to-own solution* that is at the heart of Acima Leasing is not just a win for credit or cash-strapped customers ; it’s a game-changer for retailers as well. Our lease-to-own solution* offers customers the shopping power they are looking for by allowing them to make payments according to their lease agreement. Once the payments are completed, ownership of the product is transferred to the customer.
As simple as that sounds, you might be wondering how lease-to-own solutions can work for your business. In this article, we'll break down why this shopping approach is making waves for retailers, and how partnering with Acima Leasing can help open new opportunities to gain customers and grow your business.
Unlocking New Opportunities: How Lease-To-Own Can Transform Your Retail Business
In today's fast-paced and ever-changing retail landscape, businesses must adapt to meet the evolving needs and expectations of their own customers, as well as consumers in general. One of the most significant shifts we've seen recently is the increasing demand for flexible payment options. Consumers are looking for ways to shop without breaking the bank or diving deeper into debt. This is where Acima Leasing’s lease-to-own solution* can help, and it's not just a win for your customers — it's a game-changer for your business as well.
Making Shopping Dreams Come True
Imagine the frustration of wanting to shop for that brand-new appliance, piece of furniture, or electronic item but not having the cash on hand or the creditworthiness to secure a loan. It's a common dilemma for many individuals. That's where Acima Leasing's lease-to-own solution* comes into play!
Acima Leasing is dedicated to giving new possibilities to consumers, offering them shopping power they might not have otherwise to get the products they need. With Acima Leasing, customers don't have to pay the full price upfront to get the items they desire. This is a breath of fresh air for those who struggle with their finances, or are just impatient to get their hands on their favorite products.
On the business side of things: In a recent survey, we found that 66% of retailers are now prioritizing flexible payment options for their customers (1) , and it's no surprise. Current economic challenges including inflation, increasing student loan debt and rising credit card balances make the ability for businesses to offer these options to their customers more critical than ever.
Unlocking a New Customer Base
By offering Acima Leasing and a convenient lease-to-own solution*, you open the doors to a vast, untapped market of customers who may have been unable to shop at your store otherwise. Those who were previously deterred by financial constraints would suddenly see your store as a viable option. This in turn translates to increased foot traffic, more online visits and, ultimately, a substantial boost in your sales.
What’s more, we make it easy for new customers to find you. Customers can go to the “Find a Store” page on the Acima Leasing website and browse all of our retailer locations. It’s just one more way to drive more traffic to your business.
Increased Conversions: Turning Browsers into Shoppers
Flexible payment alternatives can have a remarkable impact on your conversion rates. Customers who might have hesitated to make a purchase due to cost concerns may be more likely to complete the transaction when presented with the option to pay with flexible payment options. Learn more about how our payment options are structured on our FAQ page. This is a game-changer for you as a retailer looking to turn browsers into shoppers.
Creating Repeat and Loyal Customers
Your customers are the lifeblood of your business, regardless of the industry you're in or the products or services you offer. When customers have a positive experience at your store, they are more likely to return to you when they are looking to shop again.
Acima Leasing is designed to continue engaging with customers who have already shown interest in your business. Once customers have completed the payments as defined in their lease, we'll remarket to them on your behalf, significantly enhancing the chances that they'll come back to your store to shop again. This customer retention tactic can be a significant driver of long-term success for your business.
But it's not just about making a sale ; it's about building enduring relationships with your valued customers. At Acima Leasing, we recognize the pivotal role that loyalty plays in your success — that's why we’re committed to helping you create a customer base that keeps coming back. When your customers feel appreciated and valued, they become your brand advocates. Explore our other articles to delve deeper into the world of nurturing customer loyalty and addressing common challenges like cart abandonment. These strategies can help your business thrive and leave a lasting impression on your customers.
Fostering an Empowering, Inclusive Shopping Experience
One of the most remarkable aspects of Acima Leasing's lease-to-own solution* is that we allow customers with less than perfect credit history the ability to shop for what they want. Many retailers turn away cash-strapped, credit-averse customers, leaving them disheartened. Acima Leasing considers individuals from various financial histories and situations to participate in the shopping experience. This not only can boost your sales but also sends a powerful message of inclusivity and accessibility, helping to enhance your brand's reputation.
Empowerment is another key aspect of alternatives to financing. It gives customers the freedom to choose how they want to shop, putting them in control of their financial decisions. This shopping power not only builds trust but also enhances the overall shopping experience, making customers feel valued.
In short, by offering Acima Leasing and lease-to-own solution*, you're not just selling products ; you're offering a transformative shopping experience that can leave a lasting impression on your customers.
Acima Leasing: The Power of Shopping Without Using Credit*
Lease-to-own is more than just a payment option. It’s more than an alternative to financing. It's a powerful tool you as a retailer can use to expand your reach, drive sales, and create a customer-centric shopping experience. Even those with less than perfect credit can enjoy the benefits of leasing, and it’s a tool of empowerment that unbanked and under-banked customers may not be able to access elsewhere.
By offering Acima Leasing, you position your business as one that understands and caters to the diverse financial needs of all consumers. So, why wait? Take the leap and learn more about how to partner with Acima Leasing. Then join the growing number of retailers who are transforming their businesses by embracing lease-to-own as a solution and take your store to new heights. Your customers will thank you, and your bottom line will too!