Factors Influencing Product Purchases

Consumer spending is at an all-time high, and the National Retail Federation predicts holiday shopping will shatter all previous records. An expected $859 billion will be spent between now and the end of the year.

With consumers flooding online shopping sites and even returning to brick-and-mortar locations, what are the major factors that influence whether they will buy?

According to a recent study, consumers express a strong interest in protecting their purchases with extended service contracts. In fact, that is the #1 factor that influences whether they will make a purchase.

A full 31% of consumers in the 2021 survey said they were more likely to purchase an item if an extended warranty was offered. That’s up from just 24% questioned two years ago.

Centricity offers worry-free product protection that results in customer loyalty that lasts a lifetime.

We believe that consumers shouldn’t have to struggle with getting repairs when a product breaks. Centricity removes the worry from extended service contracts.

Retailers that offer hassle-free product protection at the time of the sale will offer customers the reassurance they need to make the buying decision. A majority of Americans, fully 63%, say they can’t handle an unexpected $500 repair.

Extended service contracts help protect your customers over time by investing in protection at the time of purchase.

Contact us today for more information if you’re interested in customized extended service contract solutions.

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