According to a survey conducted by Latvian fintech company DelfinGroup, 85% of the surveyed residents of Latvia indicate that they keep receipts for warranty purposes, and 24% of the respondents have used warranty options in the last year.  

 

Overall, the survey shows that 10% of respondents do not keep receipts, while only 5% say they don’t believe in warranties. Meanwhile, when asked whether they had used the warranty option in the last year, 24% of respondents answered in the affirmative and 74% admitted that they had not needed to use the warranty option in the last year. 

 

"The survey data shows that people closely follow the life cycle of goods, and one in five people in Latvia has used a warranty in the last year. This shows that we don’t just buy and then throw away goods but also value their longevity and quality. Although people now associate warranties more with stores where they can buy new goods, with the growing importance of the circular economy and the pre-owned segment, it is important to provide a warranty in this part of the market as well. Currently, warranty policies vary between different pre-owned platforms, but we predict that in the future consumers will also increasingly demand warranties for pre-owned goods," says Didzis Ādmīdiņš, Chairman of the Management Board of DelfinGroup. 

 

He adds that this is the reason why Banknote, the circular retail chain owned by DelfinGroup, offers a warranty of up to 24 months on all products, giving the customer confidence in the quality of the goods. "For pre-owned and slightly pre-owned goods, the warranty is particularly important as it is an important indicator of the quality of the goods. For example, if a computer or mobile device is under warranty, the buyer can be sure that it is safe and efficient to use. We see that customers appreciate the quality of the goods, the warranty and good customer service," explains D. Ādmīdiņš.  

 

Sales of pre-owned and new goods reached 7.7 million euros 

 

DelfinGroup operates the largest circular online retail store, with more than 55,000 goods in one place, as well as more than 90 Banknote branches in Latvia and Lithuania. In the first six months of this year, sales of pre-owned, slightly pre-owned and new goods amounted to 7.7 million euros.  

 

The survey was conducted by DelfinGroup in April and May 2024 in conjunction with the research agency Norstat Latvija, covering 1006 economically active residents of Latvia. 

 

About DelfinGroup 

 

AS DelfinGroup is a licenced fintech company established in 2009 and operates under the brand names Banknote and VIZIA. The company has been profitable every year since 2010. DelfinGroup continuously develops and offers consumer and pawn loans, loans developed for senior citizens, Buy now pay later loans (BNPL loans), and the sale of pre-owned goods online and at more than 90 branches across Latvia and Lithuania. Since 2014, DelfinGroup has been known on the Nasdaq Riga Stock Exchange as a bond issuer and, since 2021, as a listed company on the Baltic Main List. The company regularly pays dividends to its shareholders. The sustainability of DelfinGroup is based on focused corporate governance, fintech innovation, responsible lending, financial inclusion, and facilitating the circular economy.  

 

 

For further information, please contact:  

Linda Eltermane,  

DelfinGroup Head of PR  

Phone: +371 28700457  

E-mail: [email protected]