_Store Credit Magento Extension To Improve Sales

It is the value that you offer to customers against the purchase they make. This
credit is not transferable and is limited to that particular eCommerce store.
An extra advantage is, it doesn’t expire like other temporary sales or promotions.
It can turn out to be a great financial incentive to the customers.
It is generally provided against item returns that are not eligible for a refund. This
credit is directly stored into the customer’s individual store account and can be
used in the future for further purchase. The customer receives the credit in the
amount of item’s last selling price.
Common types of Store Credit are:
● Returns and Exchanges​:
When customers return an item and store offers a credit amount in lieu of the
refund.
● Store credit cards, financing, and layaway:
The store owner can extend the credit and allow the customer to pay on a later
date.
● Gift cards:
A gift card purchase is indirectly a purchase of store credit to gift someone else.
● Loyalty rewards:
To reward customers with loyalty programs for future purchase.
– Benefits of using Store credits:
Store credit offers you flexibility and is an added tool to inspire customers to
spend more and loyalty. This whole feature can be incorporated in the store
using ​Magento 2 Store Credit Extensions​.