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With 77% of South Africans reporting that their household income has been negatively affected by COVID-19, many are delaying major purchases such as cars, new homes and holidays. However, there are smaller purchases like cell phones, electronics and appliances which, while necessary, can also be quite costly.
According to Old Mutual’s latest savings and investment monitor, 41% of people say they will be spending less on electronics and appliances than they did before the pandemic struck.
Providing a more affordable alternative to purchasing is Rentoza – Africa’s first on-demand subscription platform. The company’s co-founder, Mishaan Ratan, explains that subscribers can get the latest devices and appliances from leading global brands at a fraction of the cost and with a range of flexible terms to choose from.
“Once you’ve selected the product you need, you can choose between a six or a 12-month subscription. What’s more, all products and subscriptions include comprehensive insurance cover from Old Mutual. After your subscription expires, you have the option to keep the item with no additional payments or you can return and upgrade it – the choice is yours. Plus, if you choose to go the upgrade route, the cost of your next subscription will be discounted.
“To illustrate, instead of forking out almost R30,000 for a brand-new iPhone 11 Pro, if you opt for a 12-month subscription, you pay for it monthly over the subscription period. At the end of this period, when the new iPhone is released, you can return the 11 and upgrade to the 12 at a discounted subscription rate. This way, you always have the latest technology at your fingertips.”
Rentoza has partnered with brands like Huawei, Hisense Samsung, Apple and Dyson, which have recognised the value of its subscription model for consumers. New items from these brands are added every week and at price points to suit any pocket.
In addition to giving consumers access to products from these and other trusted brands, Rentoza makes the process simple and easy with the ability to connect with a sales agent at any time during the product selection journey to help ensure they get the right product at the right subscription price. Once payment is made, their device will arrive at their door within three to five days and delivery is free.
“We want people to realise that access is the new ownership and you can live the life you want on your own terms,” concludes Ratan.
