Retailers are adding lease-to-own options to appeal to the half of U.S. consumers who don’t have a credit score or have a credit score under 700. But the job’s not done once retailers decide to implement a lease-to-own solution to service non-prime customers — and unless retailers update their technical and marketing strategies to fully integrate their lease-to-own checkout option, these differences can stand in the way of retailers achieving the exciting outcomes that are possible.
“Offering a lease-to-own product opens up a retailer’s addressable marketing base to an exciting, underserved segment,” said Misti Achilles, Vice President and Head of Marketing at Katapult, the leading omnichannel lease-purchase platform.
