Retailers that decide to sell extended warranties offer their customers a purchase option they want while providing credibility to the retailer.
There is a lot of skepticism among many people when you discuss extended warranties, yet in many cases up to 30% of people will buy one. Perhaps we don’t always recollect the warranty we purchased on an item two years ago, but the fact is, consumers want protection options.
From a retail stand point, selling warranties provides credibility, as warranty providers must screen where and how the products are sold, not all retailers qualify. In addition to this, warranties can offer additional product options that a buyer might not normally think of, helping to increase sales they might not otherwise get.
In the past, warranty programs have been only offered to the largest of stores with high volumes. More recently, offering warranties has been opened up to smaller retailers of varying shapes and sizes with programs designed to launch with training, integration and without set up costs.
Qualified products include virtually any electronic including computers, cell phones, lap tops, appliances, cameras, TVs, furniture and tools to name just some. Custom warranty programs can also be created in higher volume situations and requires additional scoping.
If you’re a retailer selling qualified products, you need to start selling warranties.