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<strong>Store</strong> <strong>Credit</strong> <strong>Magento</strong> <strong>Extension</strong> <strong>To</strong> <strong>Improve</strong> <strong>Sales</strong><br />
” Save more while you spend more! “<br />
eCommerce stores are continuously emerging because of the convenience it<br />
provides and the ability to avoid the crowd. And if you are one of them who<br />
shops from a particular online site frequently than store owners can definitely<br />
provide you with store credits.<br />
<strong>Store</strong> credit is known to offer lucrative discounts and amazing rewards. Though<br />
cash is the king in the retail world, eCommerce sites offer varied payment<br />
methods. Some may offer even store credit to their customers.<br />
It can help boost retention and inspire brand loyalty. Big brands have seen the<br />
benefits and doubled down the sales by offering store credits in a variety of<br />
forms.<br />
You may ask, What is <strong>Store</strong> credit?
It is the value that you offer to customers against the purchase they make. This<br />
credit is not transferable and is limited to that particular eCommerce store.<br />
An extra advantage is, it doesn’t expire like other temporary sales or promotions.<br />
It can turn out to be a great financial incentive to the customers.<br />
It is generally provided against item returns that are not eligible for a refund. This<br />
credit is directly stored into the customer’s individual store account and can be<br />
used in the future for further purchase. The customer receives the credit in the<br />
amount of item’s last selling price.<br />
Common types of <strong>Store</strong> <strong>Credit</strong> are:<br />
● Returns and Exchanges:<br />
When customers return an item and store offers a credit amount in lieu of the<br />
refund.<br />
● <strong>Store</strong> credit cards, financing, and layaway:<br />
The store owner can extend the credit and allow the customer to pay on a later<br />
date.<br />
● Gift cards:<br />
A gift card purchase is indirectly a purchase of store credit to gift someone else.<br />
● Loyalty rewards:<br />
<strong>To</strong> reward customers with loyalty programs for future purchase.<br />
– Benefits of using <strong>Store</strong> credits:<br />
<strong>Store</strong> credit offers you flexibility and is an added tool to inspire customers to<br />
spend more and loyalty. This whole feature can be incorporated in the store<br />
using <strong>Magento</strong> 2 <strong>Store</strong> <strong>Credit</strong> <strong>Extension</strong>s.
Additionally, it can provide other benefits like:<br />
– Drop a curtain over a poor shopping experience!<br />
As rightly said, “ <strong>To</strong> err is Human, to forgive divine”. Mistakes are unavoidable<br />
but how you compensate for the same is also important.<br />
In spite of your customer having a bad online shopping experience at your store,<br />
you can make them smile by providing them with store credit. You can bring<br />
back your customer’s satisfaction.<br />
– Limited offer to sell a particular product:<br />
In order to avoid losses from an expired product or soon to be out of date<br />
product, offering a store credit by buying this product can enhance the sales.<br />
You can bring out such promotions and discounts during the festive periods like<br />
New year, Christmas or Black Friday.<br />
– Long term customer retention and loyalty:<br />
The additional incentive offered to your customers urges them to come back to<br />
your store again instead of looking out somewhere else. Such a robust customer<br />
loyalty program gives you even the chance to show your customers what their<br />
shopping means to you.
– Encourage the customer to spend more:<br />
This might sound vague but trust me it works. Customers shopping with gift<br />
cards often spend beyond their credit leading to higher sales. They feel better<br />
about spending more when the store offers a flexible return policy.<br />
– Reduce the revenue lost during returns:<br />
<strong>Store</strong> credit helps you turn the transactions into exchanges. This enables you to<br />
expand the return policy to accept returns without a receipt. This designs your<br />
policy more customer friendly and attractive.<br />
Let’s have an overview at <strong>Magento</strong> <strong>Extension</strong>s that facilitates <strong>Store</strong> credits:<br />
● Admin can edit the customer’s credit balance. It can be done through the<br />
admin panel by creating a new transaction or editing an existing one.<br />
● The email notifications are enabled to keep the customers updated.<br />
● Such extensions allow the credit balance to be visible on the front page.<br />
● It has a dedicated customer account section.<br />
● You can even facilitate a reward on customer sign up.<br />
● It comes with a transparent transaction grid.<br />
● It permits creating “<strong>Store</strong> credit product” which allows customers to buy<br />
other products at a lower price.<br />
Let your store earn more credits by facilitating <strong>Store</strong> credits to your valuable<br />
customers! And, You can give your store a new look with some of the Best<br />
<strong>Magento</strong> <strong>Extension</strong>s.
Visit Our Social Profile<br />
#Contact US#<br />
Company Name:<br />
Elsner Technologies Pvt Ltd<br />
Address:<br />
305,306 Iscon Center, Shivranjani Cross<br />
Road, Satellite, Ahmedabad, India.<br />
Email Address:<br />
Website:<br />
sales@elsner.com<br />
https://www.elsner.com/