What is a Repeat Purchase?
A repeat purchase is the purchase by a consumer of a same-brand product as bought on a previous occasion. A repeat purchase is an indicator of a degree of customer loyalty to a brand. It is also an opportunity for marketers to establish long-term customer relationships. A high number of repeat purchases indicates a satisfied and “well-retained” customer, which reduces new-customer acquisition costs and increases overall profitability. The business’ repeat purchase rate may be increased using web and social media promotions, digital loyalty programs, and exceptional customer service.