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Consumer Product Rental
First Research, May 2012, Pages: 10
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Executive Summary
Brief Excerpt from Industry Overview Chapter:
The US consumer product rental industry includes about 12,000 companies with combined annual revenue of about $22 billion. Major companies include Aaron's, Blockbuster, and Rent-A-Center. The industry is concentrated: the largest 50 companies account for about 70 percent of industry revenue.
The industry includes companies that rent personal and household goods, primarily for short periods but also under longer-term arrangements. Examples of products rented by companies in the industry include consumer electronics and appliances, DVDs and videotapes, formal wear, home health equipment, and recreational goods.
COMPETITIVE LANDSCAPE
Demand is driven by personal income and the timing and popularity of new movie releases. The profitability of individual companies depends on the right merchandise mix and inventory financing costs. Large companies have advantages in economies of scale in purchasing, distribution, and advertising. Small companies compete effectively by providing superior customer service and catering to local demographics. The industry is labor-intensive: average revenue per worker is about $100,000.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major services include renting DVDs and videotapes (about 35 percent of revenue); home health equipment (20 percent); and consumer electronics and appliances (10 percent); Other products rented include furniture, formal wear and costumes, party supplies, and recreational equipment.
In-store rentals account for about 80 percent of the DVD and videotape rental market, but other forms of distribution, including by-mail, kiosks, and digital streaming, are growing in popularity. Most video rental companies are small: retail chain franchises account for about a third of...
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