Same-Store Sales on the Rise at Acceptance Now

August 10, 2015 at 2:56 PM EDT
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Virtual Approvals and Assisted-Selling Tools Help Drive Gains

PLANO, Texas--(BUSINESS WIRE)--Aug. 10, 2015-- Acceptance Now, a nationwide pioneer in the operation of rent-to-own kiosks within third-party retail outlets, announces second-quarter same-store sales gains of 31.6 percent over the year-ago period.

“In addition to the introduction of a 90-day pricing option, the gain is tied to the adoption of point-of-sale initiatives that have quickly taken root and are revolutionizing the way we do business,” said Mark Denman, executive vice president of Acceptance Now, referring to the company’s rental-approval engine technology and iPad-based, assisted-selling tool. Both were piloted in April of 2014 and have been rolled out to kiosks since then.

The self-guided, iPad-based tool, now available in over half of Acceptance Now’s 1474 outlets, 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, now available in nearly all Acceptance Now stores. 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 Chief Financial Officer Robert Riesbeck of hhgregg, a 227-store 20-state appliance, electronics and furniture retailer and Acceptance Now partner. “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.”

About Acceptance Now: Acceptance Now, a division of rent-to-own industry leader Rent-A-Center, Inc. (NASDAQ/NGS:RCII), operates 1,474 rent-to-own kiosks in third-party retail stores across the country. To learn more, see www.acceptancenow.com.

Source: Rent-A-Center, Inc.

Rent-A-Center
Xavier Dominicis, 972-801-1988
Vice President, Public Affairs
Xavier.Dominicis@rentacenter.com