Rent-to-own News

Rent-to-own News - Rental business in China: Oursjia opens Bejing's first superstore for rental services

June 6, 2011

Bejing, China now has a three-story superstore reserved solely for traders offering rental services thanks to rental powerhouse, Oursijia.

Located to the east of Chaoyang Park, Oursjia opened during the recent Qingming Festival holiday and packs in a plethora of goods over a modest 10,000 square meters, from 10-million-yuan Rolls Royce cars and luxury designer handbags on the first floor, to baby carriages, fitness equipments and furniture on the second, and home appliances and digital equipment on the third.

All the products on offer are brand new, although prices will not be fixed until next week. After customers sign an agreement and pay a deposit, staff promise to ship goods for free within three days, according to China Daily.

Oursjia, which is based in South China's Guangdong province, has 59 stores nationwide and the company plans to hit 100 before the end of the year. Despite the initial enthusiasm, Lai Yang, director of Beijing Vocational College of Finance and Commerce's business research institute, predicted it will take time for the business model to be accepted by shoppers in the capital.

"This kind of business in China lags far behind what goes on overseas," he said, adding that local consumers much prefer to own rather than rent products.

However, trader Wei, who did not want his full name used, argued that renting is a far more cost effective option.

"Renting not only saves money, but customers can replace the goods they rent with similar goods within three days during the lease, which helps keep things feeling fresh," he said.

About APRO
The Association of Progressive Rental Organizations is the official voice of the rent-to-own industry and the most accurate and trustworthy source of rent-to-own news in the industry. Founded in 1980, APRO is the national, nonprofit trade association advocating and representing the rent-to-own industry before the U.S. Congress, state legislatures, courts, media and the public.

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A New Rent-to-Own Experience

by Neil Ferguson

Here’s the lowdown on APRO’s 2012 Convention and Trade Show, July 24-26 in Memphis. The RTO industry’s big event will offer many valuable experiences, including insights on how to turn your stores into “experiences”–the good kind for consumers

Who Is Your Competition?

by Bill Keese

In order to expand your customer base, you can learn a lot by observing your competitors. But first, you need to figure out just who they are. If you think your only competition is the rent-to-own store down the street, you’re not considering the bigger picture. APRO’s executive director offers a big-picture perspective.

A Review of Online Customer Complaints

by Ed Winn III

While rent-to-own companies have not cornered the market on negative reviews posted on consumer complaint websites, it’s no surprise that there are cyberspace beefs against RTO. APRO’s general counsel reviews some of them in search of a pattern and he considers appropriate response to online complaints.

Rent-to-Own Families, Part VIII

by Kristen Card

Our series of family-run rent-to-own businesses continues with profiles of the Homeiers in Kansas and two Texas-based sets of kindred colleagues, the Spangles and the Weisblatts.

Future issues of APRO's magazine will be available in this same new format. Click here to access past issues that are not yet archived in the new interface.

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