What is rebate? Types, important of rebate?

A rebate is a partial refund of the purchase price of a product or service. It is typically offered by manufacturers or retailers as a way to incentivize customers to make a purchase. Rebates can come in the form of cash back, gift cards, or discounts on future purchases.

There are several types of rebates, including:

1. Mail-in rebate: Customers are required to mail in a form along with proof of purchase to receive their rebate.

2. Instant rebate: Customers receive the rebate at the time of purchase, either through a discount at the register or a gift card.

3. Online rebate: Customers submit their rebate information online and receive their refund electronically.

Rebates are important for both consumers and businesses. For consumers, rebates can help save money on purchases and make products more affordable. For businesses, rebates can help increase sales, attract new customers, and build brand loyalty. Rebates can also help businesses gather valuable customer data and feedback.