Store credit (currency) explained

Store credit is a special currency that is only usable in a specific shop to purchase items or services only from that shop.[1] [2]

Description

Shops may grant store credit to customers who returned a product that isn't accepted for a refund. In these cases, the store credit amount is usually equal to the item or service's original price.[3] In some cases, store credit is granted to customers that don't have a receipt for the item they are returning. Sometimes, shops also offer extra discounts on top of the store credit.[4] [5] Store credit is usually kept in the customers account. According to one source, store credit may also enhance brand loyalty.[6] Keeping track of customers store credit is often done digitally, thus the customer will have an online account.[7]

See also

Notes and References

  1. Web site: STORE CREDIT - English meaning. dictionary.cambridge.org. Cambridge University Press. 2024-04-16.
  2. Web site: What Is Store Credit? How To Use It To Sell More (2024). shopify.com. Shopify Inc.. 2024-04-16.
  3. Web site: STORE CREDIT definition and meaning. collinsdictionary.com. HarperCollins Publishers Limited. 2024-04-16.
  4. Web site: Store Credit Definition. voucherify.io. Voucherify PSA. 2024-04-16.
  5. Web site: Should Your Retail Business Offer Store Credit?. erply.com. ERPLY Limited. 31 January 2018. 2024-04-16.
  6. Web site: Nguyen. Jeng. What is a store credit? Definition, benefits, and guide. magestore.com. Magestore Technology JSC. 2023-12-15. 2024-04-16.
  7. Web site: Store Credit vs Refund: Which Is Best?. advancedcouponsplugin.com. Rymera Web Co Pty Ltd. 2024-03-22. 2024-04-16.

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