Service Contracts — The (Second) Best Gift this Cyber Monday

As the gift-giving season approaches fast, peace of mind should be at the top of the holiday shopping list for every consumer hoping to protect their pricey purchases from future repair costs. While the awesome appliance or electronic device no doubt has that  “Wow!” factor , adding a service contract (also known as an extended warranty) is a way to be sure your gift recipient says “Wow!” well into the future.

With limited in-store inventories at the top of consumers’ minds, online channels will make up nearly 18.4% of all spending this November and December. E-commerce sales are expected to increase 14.4% above last year.  With online sales becoming more common, it is important that consumers consider how to make the most of their newly purchased items. 

This Cyber Monday and throughout the holiday season, a present paired with a service contract may just be the ultimate in gifts. Each year, Cyber Monday wraps up the great American tradition of post-Thanksgiving sales and holiday shopping. The special occasion offers some of the most significant online sales of the year and has become the biggest shopping day for e-commerce, surpassing even Black Friday for digital sales. While consumers are taking advantage of this evolving digital marketplace, it’s never been more essential to remember to request a service contract.

You can purchase a service contract at the point of sale directly from the retailer, or get one after purchase through companies that specialize in selling and servicing them. Service contracts not only cover larger items commonly associated with extended warranties like refrigerators and other appliances, but they can also protect smaller products that are especially popular during the holiday season – things like e-readers and video games. With up-and-coming devices like the newest smartphone and Amazon Fire TV Omni Series, the consumer electronics market is forecast to rise by 12.5%, making it the second-fastest-growing e-commerce category this holiday season.

Going the extra mile by purchasing a service contract when you buy valuable but fragile presents is a great way to proactively protect your plans and your wallet.

Cyber Monday is all about reduced prices and exciting deals. Securing a service contract for your Cyber Monday purchase will avoid the future headache and financial burden of fixing or replacing an item that was supposed to be a holiday bargain.