What Every Retailer Needs to Know About Service Contracts
As the holidays approach, stores will fill with customers snapping up appliances, consumer electronics and other products for gifts and personal use. Savvy retailers promote extended service contracts as a way to assure ongoing product performance, promote customer loyalty, provide peace of mind to consumers, and boost store profits. While most understand the benefits of service contracts, there are some key points to keep in mind when implementing a new program or changing administrators or underwriters.
Knowledge is Everything: Trust but Verify
Gather information on the administrators of various service contract programs. Knowledge is everything when it comes to doing business with any provider. Consider the reputation of the firm along with the reliability and experience of the management team. Trust in the information uncovered but verify the authenticity of the data. Also make sure that the facts gathered are based on current information.