How Furniture Retailers Boost Profits and Grow Customer Trust with SureBright Shipping Insurance

The following is a case study featuring furniture retailers like ChairKing, Fosters Mattress, DirectBed, and others who partnered with SureBright.

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4 months ago, the leadership team of a leading furniture retailer in the mid-west began a thorough review exercise on their customer feedback reports. They specialize in customized wooden dining-sets and space-efficient sofas. Having been in the business for 5+ years, they had 1000+ customers and 230 reviews with a 4.3 rating on Shopify.

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Classifying all the reviews, they found around 32% of their 1 and 2 star reviews complained about dents, scratches and small tears. Another 7% complained about receiving their orders beyond the estimated date, and a further 2.7% of customers were angry that they never received their order.

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While the business-owner was quite aware of the impact on the ratings, using our Shipping loss impact calculator he found a rather less-analyzed figure- their business was losing ~8.5% of their bottom-line because of shipping problems- round-trip costs, additional customer-service man-hours and un-usability of the returned products.

Every time a shipment goes wrong, it’s not just the product that's lost—it's the customer's confidence in us, and that's something no discount or promotion can easily fix.”

The truth is this story isn’t unique to them alone. Almost every retailer which has scaled their business beyond 500k-750k USD finds themselves more or less in a similar situation. As per a recent industry survey, 92% of e-commerce merchants said they incurred significant costs due to lost, stolen, or damaged shipments over the past year. Over half of those merchants estimated that they lost more than $50,000 in a year!

Results Achieved

Attachment rate, Boost to the bottom line, Revenue share earned, cart abandonment reduces, customer conversion increases, X% improved Shopify ratings, Y% faster resolution time, Z #claims resolved, K% better than the competition (or K% economical than Shopify’s Shipping insurance)In just 3 months, SureBright helped the retailer fix their leaky bucket. Not just decreasing revenue and customer losses, but also enabling healthier profit margins and growing customer delight. It was unparalleled joy for us to get a call from them when their Shopify rating reached 4.6 for the first time in 2 years.

Process

Once you analyze the data, the need for Shipping insurance becomes obvious. In this case, when the merchant’s team reached out to us, the requirements were clear- they needed an insurance partner which-

1. Could insure shipping for their diverse range of products- 2 ft x 2 ft x 1 ft to 20 ft x 6 ft x 8 ft.

2. Didn’t require a dedicated person just to forward paperwork between teams.

3. Can help them with coverage in specific states.

4. Genuinely cared about their customer’s experience and not leave them hanging.

Every time a shipment goes wrong, it’s not just the product that's lost—it's the customer's confidence in us, and that's something no discount or promotion can easily fix.”

Not only did we really keep the process simple and easy, we also helped them with-

1. Customized shipping insurance quotes for every product- generated instantly.

2. Specialized protection against porch piracy

3. Clear, customer-focused policies

4. Effortless claims processes

5. Reduced workload for their customer success teams

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Did we mention that the entire process is completely hands-off, and our advanced AI powered algorithm helps your customers get shipping insurance that beats the market?

Let's Talk?

The data is loud and clear - 1 out of every 10 packages shipped in the USA arrives damaged, while 33% Americans have had at least one package stolen. Customers have a right to be angry, though your bottom-line doesn’t need to be the victim.

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Industry- Home Appliance