Retail Observer

RETAILOBSERVER.COM APRIL 2020 48 P urchasing associations such as TRIB Group (The Rental Industry Buying Group) leverage the negotiating power of retail companies to help these companies navigate the ever- changing marketplace. Like traditional retail, rent-to-own (RTO) retailers are being forced to adapt to the new digital purchasing landscape. Joining a buying group enables RTO retailers to unite and solve the challenges together. The TRIB Group members include multi-franchise operations and one-shop businesses. Since 1983, TRIB Group (an affiliate of AVB) has offered dealers of all sizes access to key services, best pricing, and the latest technologies that individual store locations wouldn't be able to negotiate on their own. We have grown continuously over the years and now represent over 3,600 stores nationwide. By leveraging the sales volume of our combined membership, TRIB Group is able to provide savings of between 10% and 30% on many goods and services offered by rent-to-own dealers, based on forecast purchase volume. TRIB Group also tracks the negotiated rebate and discount offers that we negotiate with our suppliers to ensure that each member receives the full benefits of our group buying power. Through our reporting system we carefully audit purchases made by the group, and in many cases we are able to catch errors and uncover money owed to retailers that could have easily been missed. OUR RATING PROCESS PROVIDES TRANSPARENCY An added benefit that TRIB Group and other buying organizations achieve by working together is the ability to share information about suppliers, products, technologies and the market in general. TRIB Group offers its members a vendor rating method that gives them access to the great experiences other members have had, and learn about any pitfalls to avoid. Information sharing forges relationships across the group and between the vendors and members. Sharing expectations and experiences improves the sales process for everyone. MEMBERS SHARING INFORMATION ACHIEVES RESULTS At our two TRIB Group hosted membership meetings and buying fairs we present a rich variety of networking events and educational and break-out sessions that encourage the members to share best practices for all aspects of their business, including tips on marketing and sales, human resources issues, benefits and attracting talent. Best practices are shared and implemented, strengthening each organization to face industry challenges. In many cases, a dealer or group of dealers will test-offer a new technology or non-traditional product line and then share their successes or failures with the membership group. This information is invaluable for others in their search for expanded product offerings. Whatever your field, be it traditional retail or rent-to-own, you can look to a buying group to leverage volume purchasing and receive the benefits of sharing information with other organizations. ON ANOTHER NOTE… By the time you read this, TRIB's spring meeting and buy fair, Meeting of the Minds 2020, will have concluded. Our excitement about the show is high because we hosted the event alone, and it feels like a throwback to the way we hosted shows years ago when the group was getting started. Because it was held in our hometown of Atlanta, the theme was "TRIB Group Homecoming, back where it all began." As a nod to our past we went all-out to give our members and vendors an authentic Atlanta experience. We hosted the welcome reception at the College Football Hall of Fame in downtown Atlanta which overlooks the Atlanta skyline and Olympic Park, making it a lovely venue for a networking event. The Hall of Fame is a playground of interactive exhibits that employ technology to put you inside games, test your skills, try your hand at play-calling and experience some of the greatest moments in your favorite team's history. More about the show in a future issue, but I can promise you it was one we will all fondly remember. BUYING GROUPS HELP RTO RETAILERS FACE NEW CHALLENGES RO Dennis Shields Rent-to-Own Trends Dennis Shields is Executive Director of TRIB Group, the nation's largest owner/member buying cooperative serving the rent-to-own retail channel. Visit www.tribgroup.com. Better Together: TRIB Group leverages the combined strength of its 3,600-plus storefronts and its AVB BrandSource and ProSource affiliates

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