In the consumer electronics market, profit margins average just 4-8% despite the best supply chains.
While small and medium-sized retailers focus on cutting costs and increasing operational efficiencies that’s not really where profits grow. Typically, every business has to focus on three critical challenges:
1. How can you increase profits per sale without raising prices?
2. How can you enhance customer experience without extra operational costs?
3.How can you differentiate from big-box competitors?
The answer that major retailers already know: extended warranties and product protection plans.
Here’s context- more than 50% of Best Buy’s net profits come from selling extended warranties. This powerful statistic shows how small to medium-sized businesses (SMBs) have been at a disadvantage.
The problem is that given their economic and operational constraints, insurance/warranty providers only worked with large retailers, leaving SMBs without this crucial profit driver.
SureBright changes that equation. By connecting merchants, insurance partners and customers in a seamless process, SureBright levels the playing field for SMB retailers by simplifying the process of offering warranties.
Hundreds of consumer electronics sellers, including Swiftronics, Blaupunkt, Speech Tablet, and Communication Gear Supply, have partnered with us to experience the difference first-hand. Rather than focusing on just one company, here’s an industry-wide case study that covers the business transition across merchants.
Before implementing extended warranties, our retail merchants faced identical challenges:
Once protection plans were offered to the customer, our merchant partners observed significant benefits, including-
But how did we make this happen?
Working directly with our retail partners, we developed a warranty program specifically designed for smaller operations. Here's what we implemented:
Standard manufacturer warranty: 12 months for new products, 90 days for refurbished ones. Coverage includes only parts.
SureBright protection plans: Up to 5 years comprehensive coverage including:
Customers receive immediate clarity about protection benefits:
Technical implementation completed in under 10 minutes across all channels:
Claims processing is handled entirely by SureBright - so that retailers can focus on selling, while we handle operations.
SureBright currently serves 60+ product categories including:
Ready to increase your profits without raising prices?