Extend Launches Shipping Protection to Further Boost Merchant Profits, Reduce Costs, & Delight Customers
This signifies Extend’s growth from a single to multi-product company that provides merchants with best-in-class tools to support customers, increase purchase conversion, and drive incremental revenue.
SAN FRANCISCO, CA — August 3, 2022 — Extend, a leader in technology-enabled product protection, announced today the launch of Shipping Protection which provides protection for replacement when customers’ packages are lost, damaged, or stolen in transit. Customers can now place their important online orders with the confidence that, even if something happens to their package during the shipping process, they’re safeguarded with Extend. Extend’s modern, digitally native platform is trusted by more than five million customers and 800 leading merchants. This remarkable market traction is a result of rapid, customer-focused issue resolution and the ability to drive greater profit and improved margins with each transaction.
"Extend Shipping Protection is a crucial part of our efforts to deliver a best-in-class digital experience that drives customer lifetime value and increases brand loyalty. We've seen increased shipping issues over the past few years, and being able to offer our customers the opportunity to protect their purchases while enroute to their homes is a tremendous value add," said Ali Oner, CEO at Boutique Rugs. "With Extend Shipping Protection, our customers are protected and we save millions of dollars in product replacement costs. Shipping Protection complements our Product Protection offering from Extend, allowing us to further drive incremental profit and defray costs."
With the addition of Shipping Protection, Extend greatly expands the capabilities of its vertically integrated, proprietary Product Protection Platform. Merchant and customer benefits include:
- Providing peace of mind for customers who expect their products to arrive safe and sound – which is why our merchants see up to 50% of customers add Shipping Protection to their order.
- Improving profitability by eliminating product replacement costs, reducing customer support overhead, and increasing AOV.
- Increasing loyalty by eliminating shipping issues that can create detractors and hurt a merchant’s brand affinity.
“Over the last three years, we’ve built our customer-focused, industry-leading product protection technology to boost average order value and increase purchase conversion rates for our merchant partners. I am energized to provide even more opportunity to delight customers and drive meaningful incremental revenue by now offering both Product Protection and Shipping Protection through one simple integration with Extend,” said Woodrow Levin, Extend’s CEO and co-founder.
Extend’s Shipping Protection launch follows the company’s January 2022 announcement that it is now able to design and manage its own protection plans through its fully licensed in-house obligors. Extend’s innovative and vertically integrated solutions fit seamlessly into any retail infrastructure, so merchants can go live in just weeks — empowering them to cultivate meaningful, trusted customer relationships beginning at checkout.
Extend provides its best-in-class product protection for merchants including Peloton, Brilliant Earth, JBL/Harman, Adorama, Sur La Table, One Kings Lane, and other leading manufacturers and retailers across a range of industries. Extend’s Shipping Protection offering expands their addressable market so Extend can deliver value to every merchant who sells products online. Now, Extend enables merchants to deliver peace of mind and value-added services to all of their customers.
For more information about Shipping Protection by Extend, visit www.extend.com/shipping-protection.
Extend, a leading modern Product Protection Platform, enables merchants to easily offer protection plans and deliver an elegant support experience to end customers. Through its AI-driven technology, Extend handles everything from offer merchandising and optimization, to replacement or reimbursement resolutions and delivering seamless end-to-end customer experiences. The company’s API-first solution has reinvented the antiquated extended warranty and shipping protection industries by eliminating many of the issues customers face with legacy providers, boosting customer confidence and retention. Extend works with over 800 leading manufacturers and retailers across multiple industries such as electronics, furniture, jewelry, sports and fitness, auto parts, and more.
Extend is backed by industry-leading venture capital firms and financial companies including SoftBank Vision Fund 2, Amex Ventures, Meritech Capital Partners, PayPal Ventures, GreatPoint Ventures, Nationwide, Tomales Bay Capital, Launchpad Capital, and 40 North.
The company was founded in 2019 and is headquartered in San Francisco, CA.