41% of optical retailers said offering a warranty is very important to capturing children’s eyewear sales, according to Jobson Optical Research’s Kid’s Eyewear MarketPulse survey. 30% said it is somewhat important and 28% said it is not important at all.
From the numbers above we learned that 69% of people feel a warranty is either very important or somewhat important to a purchase. Let’s use this information to our advantage.
A core concept in marketing is, if you want to increase sales, then lower the bar to entry. Reducing risk lowers the bar to entry. Offering a warranty reduces risk.
The more generous the warranty, the bar to entry is lowered even further. For example, a no-questions-asked warranty will generate more sales than a warranty just against manufacturers’ defects.
An interesting observation is that only a very few people will utilize the warranty. You may also have one or two people…
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