Shaun David, Loxa, Loxacover.com, talks about why product protection matters and encourages visitors at the Manchester Furniture Show to stop by its stand F82 in the Central Hall 1&2.
I still remember the excitement of buying my first sofa as a young professional. After months of saving every spare penny, I finally had enough to purchase a beautiful navy blue sectional that would transform my sparse flat into something resembling a proper home. It wasn’t expensive by most standards, but for someone just starting out, that £800 felt like a fortune.
What I didn’t anticipate was how vulnerable that purchase would make me feel. Every time friends came over, I found myself hovering nervously, ready to intervene if anyone dared approach with a drink or snack. The sofa represented such a significant chunk of my limited budget that the thought of anything happening to it genuinely kept me awake at night.
This anxiety wasn’t misplaced. Today’s consumers face an alarming protection gap that leaves them financially exposed when disaster strikes. According to a recent survey by the Financial Conduct Authority, one in ten people in the UK have no cash savings at all, while a further 21% have less than £1,000 to fall back on in an emergency. Yet despite this financial fragility, only 6.6% have adequate insurance cover for high-value items. This creates a perfect storm where people invest in products they can’t afford to replace or repair.
The modern consumer landscape has evolved dramatically. Customers are simultaneously more cost-conscious and more environmentally aware than ever before. When asked why they choose repair over replacement, the responses paint a clear picture of changing priorities: 58% cite saving money as their primary motivation, while 48% want to extend their product’s lifespan. Environmental concerns drive 38% of repair decisions, and 33% actively seek to avoid overconsumption, per a 2021 Deloitte survey
This shift represents more than just changing attitudes – it reflects a fundamental reimagining of our relationship with the products we buy. Today’s consumers don’t just want to own things; they want to own them responsibly and sustainably. According to Circular, an overwhelming 81% believe businesses should actively encourage repair rather than replacement, signalling a clear demand for more thoughtful consumption models.
Product protection at checkout addresses both the financial vulnerability and sustainability concerns that define modern consumer behaviour. By offering comprehensive coverage that includes repair services, retailers can bridge the gap between what customers want and what they can afford. This isn’t just about insurance – it’s about enabling a more sustainable way of living while providing genuine peace of mind.
For retailers, this represents an opportunity to build deeper customer loyalty while supporting broader environmental goals. When customers know their purchases are protected, they’re more likely to invest in quality items and develop lasting relationships with brands that prioritise their financial security and values.
The benefits extend beyond individual transactions. By normalising repair culture and making protection accessible, businesses can help shift entire market dynamics toward sustainability while building more resilient customer relationships.
My story has a somewhat predictable ending. Despite all my careful hovering and anxiety, it wasn’t a friend with a spillable drink who ultimately damaged my precious sofa. Instead, it was my own dog, who decided one afternoon that the seat cushion looked particularly appetising and proceeded to eat a substantial hole right through the fabric. Without adequate insurance protection, I faced the choice between an expensive repair or living with furniture that looked like it had survived a small explosion – a reminder that sometimes the threats we don’t see coming are the ones that matter most.
