The average cart abandonment rate is a staggering 70%. The market is too competitive - businesses can't afford to close only 30% of potential sales. That's why offering product protection plans isn’t just an added benefit for your customers—it’s a powerful conversion driver. When shoppers see the option to extend the life of their purchase and mitigate risk of future damage, they’re more likely to buy and feel good about it afterward.
Reducing purchase anxiety, minimizing financial risk, and reinforcing trust are all critical levers for driving conversions—especially on big-ticket items. Discover four powerful ways product protection plans can boost your bottom line and slash cart abandonment.
1. Reduce purchase anxiety on high-priced items
High-ticket purchases often trigger hesitation. When customers are contemplating a large purchases like appliances, furniture and electronics, the “What if I spend all of this money and it breaks?” question generally looms. Offering protection plans turns that unknown into a defined, manageable cost. In fact, nearly half of extended warranty purchases happen right at the point of sale, when customers are most primed to buy but also most nervous about buyer's remorse. That immediate uptake reflects a powerful surge in buyer confidence: when you present protection alongside the product, shoppers feel a level of security in their purchase decision.
2. Minimize risk associated with damaging a product
Every product carries a risk of accidental damage—spilled coffee on a keyboard, a cracked screen after a drop, or torn fabric on a couch. Without protection, customers imagine the worst-case scenario: paying full price again to replace or repair the item. Protection plans clearly outline what’s covered (drops, spills, mechanical failure, etc.), so customers perceive damage as a manageable expense rather than a financial catastrophe. This reassurance turns what was once a deterrent into a minor, calculable cost.
Accidents happen—drops, spills, and electrical failures can turn a purchase into a costly headache. Protection plans make these incidents feel like minor blips rather than worst-case scenarios. When customers know they can file a claim for accidental damage with no additional deductible or fees, the risk of damage is no longer a looming expense. This reassurance lowers friction at checkout and can meaningfully reduce cart abandonment.
3. Build trust by showing you stand behind your product
Offering protection plans signals confidence in your merchandise. When you stake your reputation on the promise of repairs or replacements, you’re saying, “We believe in our product’s quality—and ours is a company you can trust.” That message resonates with today’s shoppers, who expect transparency and accountability. A strong protection program like Mulberry can become a powerful differentiator, especially in competitive markets where similar products vie for consumers' attention. Offering a protection plan signals confidence in your product—and in your commitment to customer care and building longterm relationships with your customers.
4. Confirm that it’s a smart purchase worth protecting
Protection plans also reinforce the perception of value. Framing protection as a “smart upgrade” repositions it from an optional nice-to-have to a no-brainer. When you present product protection as an investment, customers switch from “Do I need this?” to “Can I afford to go without it?” This subtle shift in the narrative boosts attachment rates and transforms one-time purchasers into repeat customers who recognize the value of safeguarding their investments.
Data from this survey reveals that three out of four consumers say a warranty plan plays an important role when it comes to making purchases. Some of the most common items protected:
- Appliances like refrigerators and washing machines (76%)
- Power tools and equipment like generators and lawnmowers (64%)
- Health and wellness products like sports and fitness equipment (52%)
By reducing anxiety on high-priced purchases, mitigating damage risk, building brand trust, and framing protection as a smart spend, you’ll see higher conversion rates, lower crt abandonment, and stronger customer loyalty. In a landscape where 70% of carts are abandoned, implementing product protection is more than an upsell—it’s a strategic lever that pays dividends in conversion and lifetime value.
Reach out to our team to build a customized protection program that supports your business and your customers.
