Big Lots! Boosts Value with New Product Protection Plan

NEW YORK, NY – January 21, 2026 – Discount retail giant Big Lots!, in a strategic move tied to its ongoing brand revitalization, has partnered with product protection firm Mulberry to launch "The BIG! Protection Plan." The new offering, available to customers nationwide, provides extended coverage against accidental damage for a wide array of products, signaling a push to deliver value that extends far beyond the price tag.

A Turnaround Strategy Built on Value

This partnership arrives at a pivotal moment for Big Lots!. The company is navigating a comprehensive "new chapter" following its acquisition by Variety Wholesalers, Inc. in late 2024 after a period of significant financial turbulence. Under new ownership, the retailer has embarked on an ambitious turnaround plan, dubbed "Project Springboard," aimed at re-establishing its reputation for "extreme bargains" and a "treasure hunt" shopping experience.

A core component of this revival involves a strategic refresh of its product assortment. While the previous management had scaled back on big-ticket items, the revitalized Big Lots! is expanding its furniture and electronics departments—categories where consumer anxiety about potential damage and long-term durability is highest. The introduction of The BIG! Protection Plan directly supports this strategic shift. By offering a safety net for these larger investments, the company aims to reduce buyer hesitation and build customer confidence, encouraging shoppers to commit to higher-value purchases.

"The launch of The BIG! Protection Plan marks a new era for the Big Lots! brand," said Lisa Seigies, President and CEO of Variety Wholesalers, Inc. "Partnering with Mulberry allows us to elevate our customer experience and deliver more than brand-name savings, offering lasting value through product protection that extends well beyond the purchase." This move is a clear indication that Big Lots! is competing not just on price, but on the total ownership experience, a critical differentiator in the crowded retail market.

Meeting the Modern Consumer's Demand for Peace of Mind

The collaboration between Big Lots! and Mulberry taps into a powerful and growing consumer trend: the demand for post-purchase security. In an increasingly uncertain economic climate, shoppers are more cautious, seeking assurance that their hard-earned money is well spent. This is particularly true for home goods, appliances, and electronics, which represent significant household expenditures.

Industry data underscores this shift. The global market for value-added services in retail, which includes extended warranties, is projected to grow at a compound annual rate of 8.4%, reaching nearly $240 billion by 2025. According to market research, nearly half of all shoppers are more likely to choose a brand that offers product protection, while almost a third would abandon a purchase if a protection plan wasn't available. For retailers, the benefits are twofold: it enhances customer trust and opens up a new revenue stream.

Furthermore, the quality of the claims process itself has become a crucial touchpoint for brand loyalty. A seamless and positive experience when resolving a claim can transform a moment of frustration into a powerful demonstration of customer care. One industry study found that a positive claims experience makes a customer 81% more likely to recommend the company or make a future purchase. By offering a plan with no deductibles, no hidden fees, and a 24/7 online claims portal, Big Lots! and Mulberry are aiming to provide precisely this kind of reassuring experience.

Mulberry's Play to Democratize Product Protection

For Mulberry, a technology-driven product protection platform, this partnership represents a significant strategic expansion. While the extended warranty space includes established giants like SquareTrade and Assurant, Mulberry has carved out a niche with its "people-first," tech-forward approach. Partnering with a retailer of Big Lots!' scale—operating hundreds of stores across 18 states—catapults Mulberry's services into the hands of millions of mainstream consumers.

This move effectively democratizes access to high-quality product protection, extending it beyond premium brands and into the value-oriented discount sector. It aligns perfectly with Mulberry's mission to make peace of mind both accessible and affordable.

"We’re thrilled to introduce the BIG! Protection Plan to Big Lots! customers,” stated Chinedu Eleanya, CEO of Mulberry. “Mulberry is committed to making high-quality product protection seamless and affordable, and this partnership extends that peace of mind to millions of shoppers across the Big Lots! experience.”

The collaboration allows Mulberry to showcase the scalability of its platform, demonstrating its ability to integrate with large-scale retail operations and manage a high volume of plans and claims efficiently. This high-profile partnership is likely to enhance Mulberry’s brand visibility and solidify its standing as a formidable player in the competitive product protection market.

Inside The BIG! Protection Plan

For Big Lots! shoppers, the new plan offers a comprehensive and transparent safety net. Coverage begins at the moment of purchase and extends far beyond typical manufacturer warranties, which usually only cover defects, not the mishaps of daily life.

Key features of The BIG! Protection Plan include:
* Broad Accidental Damage Coverage: The plan protects against a range of accidents, including stains, spills, rips, tears, and breaks for indoor and outdoor furniture, mattresses, and rugs. For electronics and appliances, it covers failures from normal wear and tear as well as damage from power surges.
* Long-Term Durations: Recognizing that different products have different lifespans, the plan offers extended protection terms: up to 10 years for mattresses, up to 5 years for furniture, and up to 3 years for electronics, appliances, and rugs.
* Transparent and Unlimited Claims: A major point of emphasis is the plan's simplicity. There are no deductibles or hidden fees, and customers can file an unlimited number of claims up to the original retail price of the item.
* Convenient Service: Claims can be filed 24/7 through a dedicated online portal, with support available through Mulberry's channels. Customers can add the protection plan at checkout or within 60 days of their purchase, providing flexibility.

By integrating this robust service, Big Lots! is not only enhancing its value proposition but also building a longer-term relationship with its customers, one that lasts well after they have left the store. This strategic initiative demonstrates a keen understanding of the modern retail landscape, where lasting success is built on a foundation of customer trust and comprehensive service.