Retail Observer

RETAILOBSERVER.COM OCTOBER 2020 50 I n April 1970 the crew of Apollo 13 found themselves more than 220,000 miles from Earth facing a severe predicament. When Mission Commander Jim Lovell uttered the now famous words, "Houston, we have a problem," thousands of minds combined to launch a series of innovative solutions, and a sure tragedy became a history-making triumph. The glorious ending wasn't easy to achieve – each solution presented its own problems. But the tenacious NASA crew and engineers overcame each obstacle. As we struggle with the rippling effects of COVID-19 on many areas of the world, we find ourselves having to find paths to define our new normality. So far, the Rent-to-Own (RTO) industry has managed to identify solutions amid the chaos. RTO has fared by constantly coming up with ways to resolve the issues that arise. Across the nation, RTO locations are struggling with virus-related challenges such as a lack of availability in many product categories, and issues of distribution and logistics. Other issues may continue to come up as the crisis continues its course, but we RTO dealers are creatively finding other products to rent while tightening our operations and doing as NASA Flight Controller Gene Kranz admonished his crew – "We work the problem!". While we work this problem, we can continue giving conscious attention to the safety of our employees and customers. When was the last time you avoided something new because you either didn't know how to start, or you thought it would take too much time or be too challenging? Most individuals don't realize how these negative thoughts are subliminally implanting threads of failure. And just as we are the product of our thoughts and our efforts, discouraging thoughts can weigh us down and divert us from our journey to growth and success. As RTO peers make conscious decisions hand in hand and move toward more open mindsets, our efforts are proving to bring greater success than ever. Last month marked the inaugural adventure of our industry's annual 2020 RTO World Convention & Tradeshow's transition into a virtual convention environment that springboarded the industry into a fresh realm of technological connection and interaction. During the registration process, many dealers and vendors expressed reluctance to embrace the new virtual format as a replacement for the historically tried-and-true trade show experience. And it's very understandable, given what they were being asked to undertake: new technologies, unknown future sales, unknown inventory needs, and the difference between virtual and live event engagement. Because it was a first for our industry, how could anyone know the outcome, despite all the extensive planning and the huge effort invested at each stage to make the experience the best it could be? While some initially found the virtual option unappealing, our convention ran September 8-11 with more than 190 companies representing the buying and selling power of the industry. The growth curve for many of us was, and still might be, rather steep, but we are resilient and we continue to climb toward success. Individual companies openly embraced the new opportunity and engaged their individual organizational team members in opportunities for professional education and personal inspiration via a variety of seminars and noted industry speakers. With their participation, store supporting team members were able to tap into the strong momentum of our tight-knit RTO industry family. They will undoubtedly be inspired to work harder, smarter, and more genuinely serve their customers to enrich each organization. Through these months of diverse challenges, astoundingly creative solutions and thought-provoking conversations have helped the TRIB Group members expand their expectations for the great opportunities that lie ahead. Our own organization's team members are giving thanks for the hundreds of member calls filled with hesitation, frustration and concerns (personal and professional) over these pandemic-influenced months. Without an element of challenge we would not have stretched our capacities into so many new areas of learning and growth. Together we will continue to work the challenges and emerge better and stronger on the other side. WORKING TOGETHER FOR AN EVEN BETTER TOMORROW RO Dennis Shields Rent-to-Own Trends Dennis Shields is Executive Director, Karl Wicker is Member Services Coordinator, and Jenifer Moore is Operations Director of TRIB Group, the nation's largest owner/member buying cooperative serving the rent-to-own retail channel. Please visit www.tribgroup.com for more information.

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