From Home Furnishing Business
Acceptance Now Gains Over Last Year
Acceptance Now, a division of Rent-A-Center (NASDAQ/NGS: RCII), operates rent-to-own kiosks within third-party retail outlets and has announced second quarter same-store sales gains of 31.6 percent over the same period last year.
The self-guided, iPad-based tool allows partner-store customers to complete transactions on their own. Alternatively, a partner store’s sales team can use the mobile technology as a side-by-side guided selling tool to lead customers through the rental-approval process. The iPads feature Acceptance Now’s proprietary rental-approval engine technology. This software automatically renders an application decision while saving time and streamlining the approval process.
“The decision engine that is being utilized with the in-store iPads and on hhgregg’s website is improving our customers’ shopping experience,” said Robert Riesbeck, CFO of hhgregg. “The virtual approval process has dramatically reduced the time to complete the no-credit-needed option for our customers. And customers have quickly embraced this new sales tool as evidenced by our strong increase in customer-adoption rates.”
Acceptance Now operates 1,474 rent-to-own kiosks in third-party retail stores across the country.