Pay-Over-Time Solution Lets Customers Budget For Large Purchases
Key Highlights:
- TUT Fitness Group offers Canadian customers PayPlan by RBC™ as a purchase payment option
- Loans are backed by Royal Bank of Canada and available for purchases greater than $300
- TUT Fitness equipment is in stock and available for holiday deliveries and gift purchases
VANCOUVER, BC, Nov. 23, 2021 /PRNewswire/ - TUT Fitness Group Inc. (TSXV:GYM) ("TUT") announces today that it is now offering PayPlan by RBC™, a pay-over-time option that allows customers to make purchases through equal monthly payments. TUT Fitness is offering the payment option at its Canadian e-commerce website.
TUT Fitness customers can purchase the internationally-patented TUT Trainer™ or TUT Rower™ by leveraging a straightforward, transparent purchase loan. PayPlan by RBC™ is available for purchases larger than $300 and is designed to make payments more manageable for customers by helping them pay in a way that fits their budgets. The PayPlan by RBC™ offer appears as a link at the checkout page, and there is no impact to customers' credit score when customers check their eligibility, nor any obligation to buy.
In addition, while many fitness equipment makers are struggling with supply chain issues, TUT Fitness Group has products stocked in inventory in both its USA and Canadian warehouses which are available for immediate shipping in plenty of time for holiday delivery.
"We are pleased to offer helpful payment options for our customers as we head into holiday gifting season, and shoppers will be delighted to know that their TUT Fitness purchases will arrive in time to unwrap them. No gift cards or IOUs necessary," said Rob Smith, CEO of TUT Fitness Group Inc.
PayPlan by RBC™ Disclosures:
Pre-qualifying for a PayPlan by RBC™ loan only results in a soft inquiry and will not affect credit scores. If customers accept the loan terms and complete checkout, a hard inquiry will be performed which may impact credit scores. Future purchases will also result in a hard inquiry.
PayPlan by RBC™ applicants must be Canadian residents who hold a Canadian bank account and must be over the age of majority in the province that they reside.
® / ™ Trademark(s) of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of Royal Bank of Canada.
Personal lending products are offered by Royal Bank of Canada and are subject to its standard lending criteria.
ABOUT TUT FITNESS GROUP:
TUT is a Vancouver-based Canadian manufacturer of high-performance fitness products. The company has designed, patented, and manufactured one of the world's smallest (11.6 lbs), and most affordable high-performance home gyms. Incorporated in 2018, TUT is an emerging player in the connected Home Gym and Fit Tech hardware space, targeting the US$10.7B Global Home Exercise Equipment Market[1] and Online Fitness Market, expected to be US$30B by 2026[2].
TUT's patented, industry-first, stackable resistance bands (TUT Plates™) allow the user to increase or decrease resistance loads with up to 200 lbs of resistance. Utilized in both the TUT Trainer™ Tower and TUT Rower™, this new breakthrough in functional strength and cardio training incorporates Time Under Tension to target every muscle group without the added pressure to joints or tendons, optimizing workouts, and raising the bar for personal home gyms.
Please see our Corporate Video or our social channels: Instagram, Facebook, Twitter, LinkedIn, TUT Highlights (YouTube).
For further information please contact:
[email protected]
Rob Smith
CEO, TUT Fitness Group Inc.
Forward-Looking Statements
Certain statements in this release are forward-looking statements or information, which include the RBC PayPlan, TUT Fitness Group licensing its technology, expectations and outcomes from the TUT Fitness Group's patented technology, development of technologies, customer demand for TUT Fitness Group's products, the updates to TUT products, future plans, regulatory approvals and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, security threats, and dependence on key personnel and including those other risks filed under the Company's profile on SEDAR at www.sedar.com. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment and technology failures, litigation, increase in operating costs, the impact of COVID-19 or other viruses and diseases on the Company's ability to operate, competition, failure of counterparties to perform their contractual obligations, exchange rate fluctuations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
[1] Source: Fortune Business Insights
https://www.globenewswire.com/news-release/2021/04/15/2210905/0/en/Home-Fitness-Equipment-Market-to-Reach-USD-14-74-Billion-in-2028-Introduction-of-Smart-Treadmills-to-Boost-Growth-reports-Fortune-Business-Insights.html
[2] Source: Global Market Insights, Inc.
https://www.globenewswire.com/news-release/2020/09/24/2098446/0/en/Online-Fitness-Market-growth-predicted-at-30-through-2026-Global-Market-Insights-Inc.html
SOURCE TUT Fitness Group Limited