The Lease-To-Own Secret: Giving Consumers Control Over Durable Goods Purchases
New Data: Retailers Get Durable Sales Boost From Lease-To-Own Plans
When faced with either going without or taking on unsecured debt for durable goods, new research shows that offering lease-to-own plans not only provides financial flexibility but can also drive sales at traditional retailers. In “The Lease-To-Own Secret: Giving Consumers Control Over Durable Goods Purchases,” a PYMNTS and Katapult collaboration, PYMNTS’survey of 2,688 U.S. consumers showed how lease-to-own plans also positively impacted customer relationships at those merchants.
Inside the April Report
- 68%: Share of millennials who bought durable goods during the past 12 months
- 28%: Portion of consumers that financed all of their durable goods purchases during the last 12 months
- 66%: Segment of consumers who say they prefer traditional retailers when purchasing durable goods
