Retail Observer

RETAILOBSERVER.COM JANUARY 2016 76 A s this is my first column in The Retail Observer, a short introduction is in order. At the risk of dating myself, I've been in the rental industry for 30 years, the last 15 with the TR I B Group—which signed an alliance with BrandSource in 2006. Initially, the alliance helped give members a lot of auxiliary services that TR I B did not put focus on. Then, in 2008, we combined our tradeshows, which elevated the relationship to a whole new level. I started with TRIB after working in the industry for well over a decade for an affiliate member of the group and sitting on the board of TRIB for four years. Having previously worked in the banking industry, as well as in rent-to-own ( RTO), my background as a "numbers guy" has served me well in this position. TRIB and BrandSource have very similar beginnings in that they were both small groups of independents that wanted to band together to consolidate their collective buying power. The directors and I shook things up a bit when I took over the group, and the results have been that TRIB has been on a steady incline of member and volume growth. During this time, I've seen a lot of changes and challenges. Kiosk models in box stores, for example, along with the online competition, have threatened our industry. These two things are beginning to reshape the rental business, posing unique challenges to its independent brick-and-mortar model. However, I feel that in the long run, the independents will adapt with new ways to advertise and use technology. Those who adapt will survive and thrive. Those who just sit back and wait for business to walk in the door like we did in the '80s and '90s won't be around for long. You have to work hard for gain and to retain customers these days. The independents have an advantage here, because they are usually good people and good business owners, taking pride in their operations and maintaining relationships with their clientele for years. The future of the rental industry looks very positive for those who are willing to adapt. For one, we need to look and act a lot more like conventional retail. By that, I mean update our stores—dress them up to give people a better experience. That's includes everything from displays to product lines. Our stores need a modern look and feel to appeal to modern customers. Collectively, we need to continually work to improve the image of the rental industry. This is an ongoing endeavor, but it has come a long way in the past 30 years. There are 175 member companies in the TRIB Group, and for me, they are what keeps the RTO business strong. But it's also the RTO vendor partners and all the people that work day in and day out in the RTO channels. We know we are a little different and unique, but that's why it is such a great culture to be involved in. It's a people industry, and I'm excited to be one of those people. I look forward to sharing news and trends on the rental industry with The Retail Observer readers going forward, so stay tuned . . . and nice to meet you! THE FUTURE OF THE RENTAL INDUSTRY Willingness to adapt is key RO Dennis Shields Rent-to-Own Trends Dennis Shields, Executive Director of the TRIB Group

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