Cart.com, an end-to-end eCommerce solutions provider has formed a partnership with Extend, a provider of extended warranty and product protection plans. The partnership offers Cart.com merchants a new revenue stream and new ways to increase customer satisfaction. It leverages Extend’s easy-to-integrate API-first platform and technology-enabled proprietary insurance stack.
Extend is supporting Cart.com’s mission to give brands of all sizes access to exceptional eCommerce capabilities. These functions were previously only available to the world’s largest online retailers.
Omair Tariq, Cart.com co-founder and CEO commented: “Like Cart.com, Extend is fixing the fractured eCommerce ecosystem. Providing an effortless, and easy-to-understand service for both merchants and their customers.
“By creating seamless solutions to serve brands, we empower them to focus completely on their customers. The partnership with Extend fits squarely in this view. Anyone who has wrangled with extended warranty claims in the past understands the friction involved. Extend is rewriting the rules for product protection and customer service. Cart.com will take care of everything from the factory floor to the customer door. Through this partnership with Extend, we’re now seamlessly covering the post-purchase experience too.”
Democratising access to post-purchase support
Prior to Extend’s launch in 2019, only the top 1% of merchants could offer extended warranties and protection plans. By offering best-in-class modern protection plan options accessible through an easy-to-integrate API-first platform, Extend has democratised access to post-purchase support. The service will be available to merchants of all sizes.
“The relationship between an eCommerce company and customers doesn’t end with the sale,” said Woodrow Levin, Extend co-founder and CEO. “Our technology will allow Cart.com’s clients to continue to engage customers after they make a purchase. Unlocking opportunities to increase brand loyalty, open new revenue channels, and create lasting customer relationships. Together, we’re empowering clients to deliver a better experience for customers. We are excited to continue to build on that vision.”
Better long term customer relationship
Cart.com’s analytics and comprehensive dashboard gives merchants insights into their products’ performance. Data-driven product enhancement means better long-term relationships with customers. The unified solution supports merchants with the services and analytics they need to take control of their post-purchase experience. It will drive more repeat purchases, foster brand growth, and create new revenue channels.
Cart.com’s partnership with Extend gives merchants streamlined access to product protection technology directly through the Cart.com brand console. Brands can track activities and performance across their eCommerce operations. Brands’ customers can now confidently buy knowing they’re covered against not only mechanical and electrical failures but also accidental damage. The company says Extend’s product protection platform moves beyond enhancing the purchase funnel. It provides a seamless claims experience that enables merchants to take control of post-purchase experience, turning potential detractors into advocates. With Extend, merchants experience double-digit increases in site-wide conversion rates, and 10% of warranty buyers return for a repeat purchase.
Enterprise Times: What this means for business?
Improving the customer experience should be the top priority for businesses, irrespective of size, sector or location. The reason is simple. Organisations that develop and invest in a customer experience (CX) infrastructure reduce churn and increase revenues. This should pave the way for improved revenues! A wide range of research has found that customers are willing to pay more for a better experience.
Cart.com brands can now add product protection provided by Extend to their offering. This allows customers to settle 98% of warranty claims in less than 60 seconds. Extends says its platform is effortless, and easy-to-understand service for both merchants and their customers. Perhaps, the results speak for themselves. Extend is now valued at $1.6B, and has raised over $315M in venture capital. The company is on track to sell more than three million protection plans in 2021. Furthermore, it is trusted by over 500 leading merchants.