Store credit (currency)

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][3][4][5]

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][6] Store credit is usually kept in the customers account. According to one source, store credit may also enhance brand loyalty.[5] Keeping track of customers store credit is often done digitally, thus the customer will have an online account.[7]

See also

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