This is a very interesting poll from one of the leading pollsters in the country, YouGov, who have asked people what they think about extended warranties on domestic appliances.
The first thing, that we would really have expected to see though perhaps not quite as starkly is that long or extended warranties are seen as a consideration and not a driver, the report says:
“Overall, 23% of consumers cite the availability of extended warranties as a factor when purchasing electrical items. This share is most pronounced among 18- to 34-year-olds (29%), indicating a higher level of consideration among younger adults.”
Which suggest, as we’d expect, that for most people it’s not a driving factor in the decision to purchase one brand over another.
The report goes on to state that almost half of buyers will never purchase an extended warranty and that bears out what we see in the field although, we’d actually have thought that it was more than half who ould not look at paying for an extended warranty. Getting one as part of the purchase is, in our experience, more of a consideration when buying even if people don’t often understand what is and is not covered.
As you can see from this chart, it’s possible or even likely that once you add up all the various factors that more than half of respondents likely wouldn’t pay for an extended warranty.
There is an interesting note that income doesn’t seem to affect the number of people that take up an extended warranty either.
It is an interesting article if this is your thing and, you can find it in full here
