Rick Murray Posted March 12, 2018 Share Posted March 12, 2018 Can someone explain about store credit? What it means and in what cases it is used? Link to comment Share on other sites More sharing options...
Chuck Posted March 13, 2018 Share Posted March 13, 2018 We are a resale store and we issue store credit to our customers for items that they trade to us. If someone returns items they don't get a refund, but they get a store credit for the item they are returning. Link to comment Share on other sites More sharing options...
ink Posted February 17, 2020 Share Posted February 17, 2020 Store credit is a settlement method between the store and customers to facilitate purchases or refunds. It is a type of customer engagement tool which increases customer loyalty. There are many reasons to use store credit. Consider the most popular cases below. Case #1 The customer wants to refund some items, so the store offers to put the refund amount as store credit instead of refunding the money to the customer. And next time, the customer can use it to purchase other goods. In this case, store credit is a good way to improve customer retention because the customer will come back to the store. Case #2 On daily purchasing processes, there may be technical failures and employees’ mistakes such a wrong item price, discount amount, etc. In such cases, it is a lot easier to patch up that mistake by store credit. The cashier can put the amount mistaken as store credit or print store credit slip and give it to the customer for use on next purchase. Case #3 The store can use store credit as deposit payment. A regular customer can prepay a certain amount of money a couple times a month and later use it to buy goods without prior payment. It is convenient for both the store and the customer. Also, store credit can work like a gift card or bonus points. Sometimes store credit is compared with account sale. Link to comment Share on other sites More sharing options...
Mido Posted June 30, 2020 Share Posted June 30, 2020 On 2/17/2020 at 3:22 PM, ink said: Store credit is a settlement method between the store and customers to facilitate purchases or refunds. It is a type of customer engagement tool which increases customer loyalty. There are many reasons to use store credit. Consider the most popular cases below. Case #1 The customer wants to refund some items, so the store offers to put the refund amount as store credit instead of refunding the money to the customer. And next time, the customer can use it to purchase other goods. In this case, store credit is a good way to improve customer retention because the customer will come back to the store. Case #2 On daily purchasing processes, there may be technical failures and employees’ mistakes such a wrong item price, discount amount, etc. In such cases, it is a lot easier to patch up that mistake by store credit. The cashier can put the amount mistaken as store credit or print store credit slip and give it to the customer for use on next purchase. Case #3 The store can use store credit as deposit payment. A regular customer can prepay a certain amount of money a couple times a month and later use it to buy goods without prior payment. It is convenient for both the store and the customer. Also, store credit can work like a gift card or bonus points. Sometimes store credit is compared with account sale. I checked loyevers a lot of times and didn't find store credit , where this option exactly and how to apply it plz !!! Link to comment Share on other sites More sharing options...
ink Posted June 30, 2020 Share Posted June 30, 2020 33 minutes ago, Mido said: I checked loyevers a lot of times and didn't find store credit , where this option exactly and how to apply it plz !!! Alas, this feature is not available in the Loyverse POS. 1 Link to comment Share on other sites More sharing options...
Mido Posted June 30, 2020 Share Posted June 30, 2020 may be soon ?? Link to comment Share on other sites More sharing options...
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