Simplify reward redemption with Store Credit

A great loyalty program promotes higher spending and builds deeper, lasting customer relationships. 85% of consumers say loyalty programs make them more likely to continue shopping with a brand. We know that offering flexible, compelling rewards is essential for a successful loyalty program. Store Credit introduces a new way for members to redeem their rewards. By offering store credit with other rewards like free shipping or discounts, you give your members the freedom to mix and match, making your loyalty program as unique as your brand. 

What is Store Credit?

Store Credit is a reward redemption option that converts a member’s points into store credit for a flexible shopping experience. Members can apply their store credit directly at checkout, without having to enter a code. This creates an instantly gratifying and tangible experience for your loyalty members. 

Unlike coupons, members can apply as much or as little of their store credit as they want, without losing any value. For example, if a member applies a $20 coupon to a $15 order, they lose $5. With Store Credit, only $15 is applied to the purchase, while the remaining $5 stays available for future use.

The Benefits of Store Credit

• More Flexibility: Members can use as much or as little of their available credit as they want, and unused amounts are saved for future purchases.
• Boost Sales: Encourage higher spending by giving members the ability to use more of their earned rewards at once.
• Protect Brand Value: Reduce the need for discount stacking and maintain a premium brand image. 

Is Store Credit right for you?

Determining what rewards are available to members is not one-size-fits-all, it’s a strategic choice and every brand is unique. Offering store credit gives you, and your members, more flexibility and elevates your loyalty program. It might be right for you if::

1. Instant value matters: Store Credit feels more like cash, so members know exactly what they’re getting and they’re excited to use it 
2. Ease of use is a priority: Store Credit is easy to apply since it doesn’t require members to enter discount codes at checkout. This leads to higher redemption rates and improved customer satisfaction.
3. You want more flexibility: Store Credit allows you to avoid the limitations of discount codes that require manual configurations to allow stacking, simplifying reward management.
4. Brand image is important: Store Credit offers a more elevated way to reward your members, helping to maintain your brand reputation while still incentivizing repeat purchases.
5. You’re using Shopify Customer Accounts: Store Credit is available exclusively for merchants using Shopify’s Customer Accounts. 

Store Credit gives your loyalty program the flexibility and premium feel that will keep your members coming back. By offering rewards like Store Credit, you create a more engaging shopping experience that drives higher spending and strengthens customer relationships.

See how Okendo Loyalty can help you build stronger, more profitable customer relationships. Book a demo today.