Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Anticipating that shoppers will be more frugal this year, consumer electronics retailer Etronics is reaching out to holiday shoppers with a new price protection plan and free return shipping promotion, and renewing its extended holiday return period.
Consumer electronics retailer Etronics Inc. is reaching out to holiday shoppers with a new price protection plan and free return shipping promotion, and renewing its extended holiday return period that began last year. The new program looks to boost shoppers’ confidence, the company says.
Purchases made on the company’s e-commerce site, Etronics.com, from November through the end of January are eligible for price protection. The company initiated the new Holiday Purchase Advantage program to encourage shoppers to buy holiday gifts early, confident they won’t be undercut by subsequent price drops, post holiday sales, expiration of return deadlines or product dissatisfaction. The extended returns period also runs through the end of January.
If a purchased item is advertised on the site for a lower price during the promotion, Etronics will refund the difference or apply it as a credit, per the customer’s choice, Mark Zayats, director of marketing, tells Internet Retailer.
Normal price fluctuations occur during the holiday shopping season as Etronics adjusts to competing offers and looks to boost sales on specific items. “We feel price protection is very important to consumers,” Zayats says. “As our prices change consumers can lock into the protection program and be confident that we’re looking out for them.” He cites the 90-day price protection period as triple the retailing norm and another confidence-builder for shoppers.
While the program is only three weeks old, traffic is up and sales have increased 10%-15%, Zayats says. “We’re confident that’s going to carry into Black Friday and Cyber Monday, too.”
The free return shipping applies to purchases made in the contiguous states in November only, and applies to most products, except those shipped by motor freight. If the customer or gift recipient is unhappy with a product, Etronics will issue a prepaid shipping label. “We want customers to be happy with us,” Zayats says.
Etronics is No. 78 in the Internet Retailer Top 500 Guide.