Lease-to-Own Solutions for Furniture Retailers

If you’re in the furniture business, you know: Furniture shopping can be an exciting but daunting experience for customers. No one buys larger furniture pieces on a whim ; it’s a commitment. Not only do customers need to choose from a myriad of style choices that they’ll have to live with for years to come, but they also have to commit to either paying a lot upfront or hoping they qualify for traditional financing.

What if you could offer your customers an alternative to financing? One tool that's gaining traction and reshaping the landscape (particularly in furniture retail) is the adoption of lease-to-own solutions. This strategy not only caters to customers facing credit or cash constraints but also positions retailers to build robust customer relationships and gain a competitive edge. After all, in the dynamic world of retail, staying ahead requires constant innovation — such as offering a service to a wider range of consumers that other retailers don’t.

Let’s dive into what lease-to-own is and break down its many benefits for your customer and your business.

Understanding Lease-to-Own Programs 

A lease-to-own program is a financial agreement offering customers the chance to acquire furniture and home essentials without relying on traditional financing. This unique contract allows shoppers the option to purchase the item they're leasing at any point during their period of ownership. Customers simply take home desired items upfront and make manageable scheduled payments.

The beauty of this arrangement lies in its flexibility — or as we like to call it, “shopping power”. It caters to those customers who might have less than perfect credit history, opening up possibilities that traditional financing may deny. In other words, it's a pathway to creating the ideal living space without the upfront financial burden.

The Retailer Perspective: Benefits of Lease-to-Own 

For retailers, embracing lease-to-own solutions is more than just a transaction ; it's a strategic move to foster repeat business and enhance customer retention. The approach not only boosts customer satisfaction by providing a customer-centric shopping experience but also positions the business as a formidable player in the competitive furniture retail market.

Offering flexible payment alternatives becomes a powerful magnet for a broader customer base. In today’s world having convenient financial options when shopping for furniture is part of the overall customer experience they seek. In a market where choices are abundant, not providing such alternatives can be a dealbreaker for customers. 

Seizing Competitive Advantage with Flexible Payments 

In the face of cutthroat market competition, businesses can leverage lease-to-own programs to differentiate their offering, thus positioning themselves at the forefront of the industry. This strategic move not only sets retailers apart from competitors but also showcases their commitment to meeting the diverse needs of their customer base.

Enhancing Customer Experience 

These days, making a sale can no longer be a retailer’s only goal ; creating an experience that resonates positively with customers is what will attract customers and encourage them to return for future needs. Empowering customers with the ability to furnish their homes is a huge game-changer where this is concerned. By offering the flexibility of lease-to-own and eliminating the upfront financial burden of furniture shopping, you automatically provide a higher level of customer experience — fostering loyalty and positive word-of-mouth (the best kind of advertising!).

Immediate Shopping Power 

One of the significant advantages of lease-to-own solutions is the immediate shopping power it grants to a broader range of customers. No longer do your customers have to face the disappointment of being turned away simply because they lack credit or have less than perfect credit history. Customers can now shop for what they might have abandoned due to payment constraints. By offering lease-to-own, retailers remove a significant pain point in the shopping process, creating a frictionless checkout experience that benefits both the business and the customers.

A bonus for the retailer: The immediate shopping power granted by lease-to-own programs may help increase the likelihood of impulse purchases, providing furniture retailers with an effective tool that may help boost sales and customer satisfaction simultaneously. 

Acima Leasing: The Right Lease-to-Own Solution 

In embracing lease-to-own programs, furniture retailers not only adapt to the evolving needs of consumers but also secure their positions as forward-thinking market leaders. The benefits may be multi-faceted, ranging from increased sales and a loyal customer base to a reputation for providing a satisfying shopping experience. 

Choosing the right partner for implementing lease-to-own programs is crucial. If you're seeking an alternative to financing solution, Acima Leasing is here to support your business. By making lease-to-own options available, the future of furniture retail becomes more accessible and exciting than ever before.

If you believe that a lease-to-own solution could benefit your customer base and help you achieve your business objectives, we’re ready to provide the support you need! To learn more about how we can work together, visit our website today.