Rebate

A rebate is a partial refund or discount offered to a customer after they purchase a product or service. It's typically a sum of money returned to the buyer, often as an incentive to purchase a specific item or to encourage loyalty. The amount can vary, and rebates are commonly offered on appliances, electronics, and other consumer goods. They are a marketing tool designed to increase sales by lowering the effective price, attracting price-sensitive consumers, and creating a sense of value.

Rebate meaning with examples

• After buying a new refrigerator, Sarah diligently submitted the rebate form, hoping to receive a $100 refund. Many buyers overlook them. The rebate required proof of purchase, including the original receipt and the product's UPC code, to be mailed by a certain deadline. It was a tedious but potentially rewarding process that could bring some savings on such a significant expense.
• The car dealership advertised a $2,000 rebate on all new electric vehicles. Several people were interested. This rebate, combined with federal tax credits, significantly lowered the initial purchase price, making EVs more attractive. This financial incentive aimed to stimulate demand and promote the adoption of greener transportation options for its customers in the area.
• To promote sales, the software company offered a special rebate program for its latest program. Those who bought it could get 20% back. The program's rebate required online registration and proof of purchase. This discount encouraged users to try out their software, hoping for positive reviews and brand loyalty in return for the customers.
• The appliance store offered a post-purchase rebate, providing a $50 Visa gift card for those who purchased a specific dishwasher model. After the sale, the customer needed to mail in a form, the receipt, and the serial number to get the reward card. Such rebates allow companies to increase the perceived value of a product and attract cost-conscious consumers.
• Following the purchase of a home security system, the company provided a rebate on the monthly service fees for the first three months. It hoped to retain those buyers. This offering was designed to entice new customers, and to offset the upfront costs of installation. This strategy provided customers with an additional discount, building goodwill and fostering loyalty.