Apart from offering quality products and sales services, how can jewellery retailers add more value to their merchandise?
AmTrust International observed that customers mainly purchase jewellery and watches for sentimental reasons, to celebrate a milestone or buy for a family member. Customers see their purchase as a long-term investment and they want reassurance that if the goods need repair, it can be done easily at a reasonable cost.
Unfortunately, this is not always the case. AmTrust notes that customers have experienced issues with sourcing jewellery and watch repair services.
AmTrust has identified this as an opportunity in the market to implement a customer focused jewellery warranty programme. Following their success of jewellery warranty business in the United States and Europe, they are now proud to launch support for the China jewellery market with ‘Jewellery Protection Care’ warranty service.
Richard Clayton, sales director in EMEA of AmTrust said: “In other markets our retail jewellery partners have achieved 60 percent penetration of jewellery sold with an AmTrust Jewellery Warranty. This type of product is highly relevant to end consumers, especially for jewellery and timepieces that carry high value and are invariably inherited by the next generation of a family. The warranty provides flexibility with a wide coverage.”
Apart from giving consumers convenience and extra peace of mind, another attractive benefit of the ‘Jewellery Protection Care’ product is that it drives customer loyalty for retail stores, increasing sales opportunities and chances to re-engage consumers. It is a win-win solution that benefits retailers and their customers.
Having provided jewellery and watch warranty services in the United States and Europe for 10 years, AmTrust is the pioneer for this type of warranty programme in Asia. The company has a global reputation for creating market leading warranty programmes for a diverse portfolio of consumer products.
AmTrust believes that although jewellery warranty is not a new concept in other markets, it will have real market relevance in China.
Richard Clayton states: “Our initial meetings have generated great interest from leading jewellery retailers in Hong Kong and mainland China. We are looking forward to offering a long and successful jewellery warranty solution for Chinese consumers for the years to come.”
About AmTrust International
AmTrust International is a subsidiary of NASDAQ-listed AmTrust Financial Services, Inc. They deliver customer service focussed insurance solutions, globally and currently operate in 27 countries. AmTrust has a reputation for developing niche insurance products for underserved markets.
← Back