Beyond Adds Extend Shipping and Product Protection to Improve Customer Experience and Increase Revenue

Rhea-AI Summary

Beyond, Inc., the parent company of Bed Bath & Beyond, Overstock, and Zulily, partners with Extend to offer modern shipping and product protection to enhance the customer experience and increase revenue. Extend's AI-driven technology provides peace of mind to customers by protecting against loss, damage, and theft during delivery, as well as offering extended protection after the manufacturer's warranty expires. The partnership aims to provide convenient, affordable services that add value to everyday customers shopping through bedbathandbeyond.com, Overstock.com, and Zulily.com.

Positive

• Partnership with Extend to enhance customer experience and drive incremental revenue.

• Extend's protection solutions come with 24/7 support and hassle-free online claim processing, leading to high customer satisfaction.

• Extend's technology-forward solutions offer modern protection and quick time to market, helping Beyond stand out among competitors.

• Extend's protection sales contribute to margin-rich incremental revenue, boosting average order value and customer lifetime value for Beyond.

Negative

• None.

SAN FRANCISCO--(BUSINESS WIRE)-- Iconic Ecommerce retailer Beyond, Inc., parent company of Bed Bath & Beyond, Overstock and Zulily, today announced its partnership with Extend to offer customers modern shipping and product protection. The announcement signals the latest move by Beyond to enhance its online shopping experience with convenient, affordable services that bring added value to everyday customers.

Extend is powered by AI-driven technology that offers peace of mind to customers and helps merchants like Beyond drive incremental revenue. (Photo: Business Wire)

Extend Shipping Protection protects customers from loss, damage, and theft during delivery, and Extend Product Protection protects against accidental damage as well as extended protection after a manufacturer’s warranty expires. Both are available now to add at checkout for online purchases through bedbathandbeyond.com, and Extend will soon be available to customers shopping on Overstock.com and Zulily.com, which Beyond acquired in March.

“We’re reimagining the customer experience with convenience in mind, and we couldn’t be more excited to partner with Extend,” said Marcus Lemonis, Executive Chairman, Beyond. “Extend is the perfect partner to help customers protect the products they buy from us from the moment of purchase through the life of the product.”

Extend’s digitally-native protection solutions come with 24/7 support, so if a customer experiences a protected issue during product delivery or daily use, they can file a hassle-free online claim anytime, anywhere. More than 94% of Extend’s claims are processed and approved in minutes, which helps generate high customer satisfaction scores and countless positive reviews for both Extend and its more than 1,200 merchant partners.

“We’re thrilled to team up with Beyond and provide a customer-focused, technology-first experience for customers across the entire Beyond family of brands,” said Extend Founder and CEO Woodrow Levin. “Extend Shipping and Product Protection reinforce Beyond’s commitment to elevating the customer experience and giving consumers greater peace of mind throughout their entire customer journey, including post-purchase.”

A comprehensive focus on the post-purchase customer experience is part of why Beyond chose to work with Extend. After an RFP round that included more traditional warranty and insurance providers, Extend’s technology-forward, modern solutions — as well as its speed to market — won out. It took Extend a mere two months of development time to go live once Beyond had made its selection.

Beyond was also motivated by the promise of margin-rich incremental revenue generated by Extend protection sales. Extend has helped merchants increase average order value and maximize customer lifetime value, both of which will give Beyond a leg-up as it looks to drive sales from both new and existing customers.

About Beyond

Beyond, Inc. (NYSE:BYON), based in Midvale, Utah, is an ecommerce expert with a singular focus: connecting consumers with products and services that unlock their homes’ potential. The Company owns Overstock, Bed Bath & Beyond, Baby & Beyond, Zulily, and other related brands and associated intellectual property. Its suite of online shopping brands features millions of products for various life stages that millions of customers visit each month. Beyond regularly posts information about the Company and other related matters on the Newsroom and Investor Relations pages on its website, Beyond.com.

Beyond, Bed Bath & Beyond, Welcome Rewards, Zulily, Overstock and Overstock Government are trademarks of Beyond, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.

About Extend

Extend, a leading modern provider of product protection and shipping protection, enables merchants to easily offer protection and deliver an elegant support experience to their customers. Through its AI-driven technology, Extend handles everything from offer merchandising and optimization to claim fulfillment, all while delivering seamless end-to-end customer experiences. The company's API-first solution has flipped the antiquated extended warranty and shipping protection models by putting the customer first. Extend boosts customer confidence and retention, while increasing conversion rates and merchant revenue. Extend works with more than 1,200 leading manufacturers and retailers across multiple industries including Peloton, Visionworks, Casper, Sonos, and many more.

The company was founded in 2019 and is headquartered in San Francisco, Calif.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240501229393/en/

Public Relations

Beyond, Inc.

pr@beyond.com

Stephanie Conell

Extend

stephanie@extend.com

Source: Extend