Retail Observer

RETAILOBSERVER.COM JULY 2020 48 T hroughout the months when businesses were being ravaged by the ripple effects of the global pandemic, the membership of the TRIB Group (The Rental Industry Buying Group) held strong, weathering the many challenges in their communities, and overall, faring better than most. Fortunately for the rent-to-own (RTO) industry, the majority of businesses were able to remain open with assigned "essential business" classifications. The decision by our nation's leaders to provide much-needed support for families via stimulus distributions was vital for many industries, including ours. Online shopping took an upturn, with more than a third of sales inquiries coming from social media outlets and website leads, according to a direct poll of TRIB Group members. And many of these customer queries translated to sales. In the stores, the shopping experience evolved to a more intimate transaction through By Appointment Only (BAO) shopping, where customers could privately view inventory options in safe, socially distanced showrooms. In the most recent months of the pandemic era, dealers and buyers were focused on seeking solutions to problems through our TRIB Group resource network. Connections were shared, with numerous introductions and discussions in online meetings. On the positive side, many individuals embraced technologies that were entirely new to them, enjoying the newfound intimacy of meeting face to face with "in-person" video tools and conferencing platforms. Our supporting vendors and industry suppliers were generous and resourceful, helping us locate outlets for store-standard inventory items, as well as hard-to-obtain safety products such as sanitizers and personal protection equipment (PPE) including gloves and masks for store teams and customers. It's been a time of giving, not receiving, with many of our vendor partners sharing resources and actively networking to build a strong support network for industry stores across the nation. This experience has proved that the RTO industry continues to be flexible, responding and adapting to market changes and the needs of the communities in which we live. Desmond Tutu said, "There is only one way to eat an elephant: a bite at a time." RTO dealers across the land were daily presented with situations that seemed daunting, overwhelming and even impossible. We were able to adjust our focus quickly and gradually achieve accomplishments for our families, businesses and surrounding communities by taking a little bite at a time, with a resilience and strong belief that brighter days are ahead. New challenges bring new adventures – accordingly, TRIB Group and its industry association co-host APRO are pleased to announce the transition of the in-person RTO World 2020 Annual Convention & Trade Show to an exciting virtual format scheduled for Sept. 8 – 11. This decision by the RTO World Committee stems from residual public health and safety concerns related to COVID-19. APRO Board President Chris Kale explained, "After careful discussion of every aspect of the meeting and experience with our co-host TRIB Group and both Boards of Directors, we have made the difficult decision to move the 2020 Annual Meeting & Expo to a virtual experience." He continued, "As excited as we were to put on an unforgettable in-person annual convention in Tampa this month, the public health and safety of our attendees, staff and vendors outweighs any other considerations in our decision-making process." The virtual show environment is a first for the RTO industry. At press time, both APRO and TRIB Group are in the process of working with scheduled speakers, sponsors and industry partners to deliver an engaging, exciting experience for RTO World Virtual 2020 convention attendees. For registration information, schedules, industry partner opportunities and additional details, visit www.rtohq.org/convention-2020. RTO INDUSTRY WEATHERS THE HEALTH CRISIS, MOVES ANNUAL CONVENTION ONLINE 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. For more information, visit www.tribgroup.com. RO

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