Research Proposal

Power Tool Registration

Goals

To gather information about registration of products for warranty in the U.S. such as demographics and ways to register.

Early Findings

Customers Signing up for Warranty

  • The growth rate of consumers registering with paper, digital or mobile means was superior to 10% in 2018, driven by a 63% growth for mobile registration.
  • Paper registration rate has grown by 9% and web by 5% in 2018.

Methods used for Registering

  • 52% of consumers registered for the first time when it became possible to do so on mobile.
  • In 2018, 38% of registrations were conducted through the web, 34% on mobile, and 28% on paper. Paper used to represent 40% of registrations in 2016.
  • Around a third of baby-boomers registered with paper in 2018, compared with less than 20% for millennials.
  • Over 80% of millennials prefer using digital means to register their products.

Reasons for Not Registering

  • Owners tend to not register because they find that the registering experience is complicated, and because they feel they should be rewarded for it with incentives.
  • Incentives can improve registration rates by 10-15%.
  • Owners tend to register more if they do not need to provide serial data and product model.
  • Making the registration process simpler can improve registration rates by 24%.
  • To have an option to register by mobile can increase the speed and the number of registrations.
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Prepared By
Tarik T.
619 assignments | 4.9