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Rentoza now offers power solutions on demand

Sibahle Malinga
By Sibahle Malinga, ITWeb senior news journalist.
Johannesburg, 01 Jul 2024
Rentoza has added inverters and uninterrupted power supply units to its subscription offerings.
Rentoza has added inverters and uninterrupted power supply units to its subscription offerings.

Rentoza has relaunched its website and added a power solutions category, as more South Africans opt for a pay-as-you-use subscription model for renting electronic products.

The local online subscription company says it has reached 14 000 active customer subscriptions over the last four years, with client growth for the last financial year at 108% year-on-year.

As the country continues to grapple with power issues, Rentoza says it has seen more South African consumers, businesses and homes seeking renewable energy products − such as inverters and uninterrupted power supply units − prompting it to offer these solutions on subscription.

“We’ve extended more than 36 000 subscriptions in total since inception in 2020,” says Mishaan Ratan, co-founder and CMO of Rentoza.

“We’ve also recently added power solutions, including power cells, to combat the impact of load-shedding for households. They are portable devices that allow customers to power almost anything while the lights are out. They have proven to be in demand since launch.”

Rentoza has eight product verticals and 22 categories. The web and mobile platform makes use of the same subscription model used by Netflix, Apple Music and Microsoft – allowing consumers to pay a recurring fee to access products they would not normally be able to afford, for a fraction of the cost, on a month-on-month basis.

Products on offer include mobile devices, tablets and laptops, and household appliances, such as fridges, microwaves, washing machines and vacuums. In the baby goods vertical, the platform offers chairs, car seats and baby monitors.

Ratan points out the company relaunched the site and mobile app to enable easier navigation, while adding a new brand identity.

“This allows for simpler customer journeys when looking for, not just products, but deals on products. We’ve also added new mobile devices. We continuously update the mobile phone catalogue, as it’s the fastest-moving product line at Rentoza.”

While it has always offered certified pre-owned devices, these now make up a larger piece of the product offerings.

“As we’ve grown and scaled, we’ve gotten a lot of devices that we’ve refurbished. We have a huge demand for refurbished devices, with the number of subscriptions for these products surpassing 25 00 devices.”

The company has grown to seven stores in the major metros of Gauteng, Western Cape and KwaZulu-Natal.

Explaining the factors contributing to the company’s growth, Ratan points out: “A tough macro environment with higher interest rates impact consumers even further and a lot of people are being impacted by a bad credit score. We are non-credit, so we have given these customers an alternative access model for the products they need and can’t get anywhere else on the same model.”