Survey: “protection Commerce” Could Lift Smb E-retailer Revenues By 25%

March 9, 2016 - PRLog -- According to a new survey commissioned by Assurant Solutions, small-to-midsize (SMB) e-retailer merchants see great revenue potential for what is known as ‘Protection Commerce’, the addition of protection plans and warranties to customers’ purchases during e-retail transactions.

Protection plans remain a largely untapped opportunity for revenue among SMB e-retailers. According to the recent survey results, 57 percent of SMB e-retailers believe commission-based protection plan offerings on items during check-out could increase their annual revenues by as much as 25 percent. What’s more, 35 percent of e-retailers polled feel protection plan offerings could increase their Average Order Value between 6-9 percent. Roughly 3,800 e-retailers were presented with the online survey during the month of January.

Beyond revenue, increased customer loyalty is also at stake. 40 percent of SMB e-retailers believe that protection plan offerings could result in repeat business on a quarter of all customer transactions.

“Customer loyalty today is driven by more than just a good price, it is also a result of customers who feel the merchant is looking out for their best interest and in this case trying to help protect their investment,” said Matthew Pufall, Director of Product for Assurant Product Protection. “This increase to the bottom line and customer loyalty – by way of product protection sales - is at the core of what is now known as ‘Protection Commerce’ for e-retailers.”

Most e-retailers polled (30 percent) said their lack of internal IT expertise has prevented them from implementing protection plans as an add-on for their web store products or checkout process.

Assurant Solutions offers revenue enhancement opportunities for SMB e-retailers through its Assurant Product Protection integration technology. With a single click customers can gain peace of mind about their purchase and merchants instantly generate additional revenue and boost margins. For more information visit www.AssurantProductProtection.com.

About Assurant Solutions
Assurant Solutions has a proud history of protecting consumer finances, possessions and peace of mind. Today, Assurant Solutions is a global leader in keeping consumers connected to their digital lives. With operations in 26 locations and 15 countries, the company’s global team of 5,000 employees are dedicated to delivering the best customer service experience anywhere in the world. That’s why industry leading mobile carriers, manufacturers, retailers, financial institutions, vehicle dealers and funeral homes choose to partner with Assurant Solutions. From mobile devices to major appliances, from cars to computers, Assurant Solutions helps protect what matters most. Assurant Solutions is a great place to work with an award-winning culture valuing leadership and innovation.


Assurant Solutions is a part of Assurant, Inc. , a global provider of specialty protection products and related services. With approximately $30 billion in assets and $8 billion in annual revenue, Assurant is a Fortune 500 company and provides its specialty protection offerings primarily through Assurant Solutions, Assurant Specialty Property, and Assurant Employee Benefits. Through the Assurant Foundation, established more than 30 years ago, the company and its employees are dedicated to supporting and partnering with organizations that improve communities.

Regards,

Amanda Molitor
Merit Mile
561-362-8888

amolitor@meritmile.com