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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]
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]