But because they don’t come with additional cost to the consumer, the risk that the product does need replacement or repair is entirely borne by the manufacturer or seller. So to summarize: lifetime warranties are ways for manufacturers or sellers to double down on their products’ quality. It rarely means the lifetime of the buyer. The “lifetime” may reference the suggested lifetime of the product (when used as intended), or the time that the product is in production (or some years after that date). (If the limited warranty was for one year, an extended warranty might be for two or three or five.) These are purchased by the consumer for additional cost, and cover everything in the limited warranty as well as wear and tear and power surges.Ī lifetime warranty is a guarantee that a manufacturer will repair or replace any defective parts for their products and comes at no additional cost. They come with no additional cost to the consumer.Īn extended warranty is an optional extension of the term length of the limited warranty. Consumer products are not required by law to have warranties, but if one is given, it must comply with the Magnuson-Moss Warranty Act and be clear, fair, and enforceableĪ limited warranty is a guarantee from the manufacturer of the product that the product will work as intended. Let’s go through Warranties 101 :Ī warranty is a guarantee that a product will function as described and intended. What is a lifetime warranty and how are companies able to offer them?įirst off, we need to define some terms. We’ll also cover some newer players who are hopping on the trend. Here, we look at brands that have long offered lifetime warranties as a way to convince customers that their products are a good buy. And it ups customer satisfaction and loyalty. It shows that you, as a retailer, stand by your products, and that you’ve got your customer’s back in case anything goes wrong. Offering a guarantee that a customer is covered if their purchase breaks address another common customer problem. Nowadays, every eComm retailer worth their salt offers some version of free shipping to entice customers to buy.Īnd we expect the same thing to happen with product protection. They started offering the bonus for orders over $99, then dropped it to $49, then $25, and eventually rolled it into other services offered as part of Amazon Prime. In the early 2000s, Amazon basically invented the free shipping game as a way to address a key customer problem: buyers didn’t want to have to pay to get their items to them. We’re calling it now: product protection is the new free shipping.
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