Koin Store Credit: Increase repeat purchases with store credit rewards
Store credit is a powerful tool to improve your unified customer experience. For Shopify merchants, the good news is that store credit works natively on the platform, encouraging customers to come back to your store without complex technical setups. However, Shopify has some limitations when it comes to more advanced scenarios, such as birthday rewards or first-order rewards.
In this article, we will share with you why many merchants are replacing their loyalty and discount programs with store credit, and how to use Koin Cashback Store Credit, a simple-to-use Shopify app that maximizes the store credit potential to enhance returns and sales for your online store.
Store credit: Why is it better than other payment rewards?
Unlike traditional discounts or gift cards, store credit motivates customers to return and shop again. Instead of waiting for the next sale with discounts, customers are encouraged to spend their existing credit. It drives repeat purchases while helping you maintain healthy profit margins compared to cash refunds. It’s also simple for customers to understand and redeem seamlessly.
These advantages make store credit a uniquely powerful tool that no other payment or reward method can match.
Limitations of Shopify’s built-in features for store credit
Store credit is available by default for all Shopify plans. However, pay attention that there are still some limitations with the built-in features:
Unable to auto-issue: You have no other choice to auto-issue store credit to your customers other than to do it manually.
No bulk actions: The native Shopify store credit feature doesn't support bulk editing multiple customers at once.
Basic reporting: The store credit analysis under the Reports page provides limited insights into store credit usage and trends.
Limited customization: You can not customize how the store credit promotional widget appears on your product page.
Koin Store Credit - the powerful store credit app for your Shopify stores
Meet Koin Store Credit, the app that takes Shopify store credit to the next level. Koin is all about three things: Simple, flexible, and powerful.
Koin Store Credit is for merchants who want to implement store credit without the hassle. By focusing only on essential features for cashback and store credit management, Koin Store Credit helps merchants save money and avoid the unnecessary complexity of workaround or 3rd-party loyalty apps.
Key features of Koin that will transform how you use store credit on Shopify include:
Automate with ease: Set up cashback automation and flexible rates by product or order
Bulk edit store credit amount: Bulk or single edit (credit/debit) store credit from customer accounts. Switching from another loyalty app? Import balances in bulk with ease.
Customize display widgets: Promote store credit rewards with widgets to match your brand.
Manage with an intuitive dashboard: Track every in-and-out store credit amount, and discover how many store credits are being redeemed.
Integrate seamlessly: Automate with pre-built Shopify Flow templates or create your own automation with other apps such as Klaviyo, Judge.me, and more.
That said, let's break down what Koin brings to your store:
Free of charge: The app is free to use. Simply put, you will own the most powerful Shopify store credit app, all without any costs.
Shopify-native: Koin works seamlessly with Shopify’s native store credit, customer accounts, and Shopify Flow. Moreover, it allows integration with essential tools, such as email marketing, reviews, and upselling apps that boost sales and improve the customer experience.
Ownership: Unlike most loyalty apps that keep this data within their own systems, Koin gives you full control and ownership of your customers’ store credit data.
Is Koin right for your business?
Store credit is an excellent strategy for many types of businesses, especially those in retail and e-commerce, as it helps retain revenue and encourages repeat purchases.
Let's look at which types of businesses benefit most from store credit, with real-world examples from merchants who've cracked the code:
Apparel and fashion industry: This industry often has high return rates. Furthermore, frequent discounts and seasonal inventory clearances often eat into profit margins. Store credit keeps revenue in the business and brings customers back for new collections. Discover how GoHappy uses store credit to keep customers returning naturally.
Large merchandise stores: If you are a merchant with a variety of SKUs in your inventory, store credit can make it easy for your customers to find an alternative purchase to use their credit. This is how store credit helps Tropical Stitches strengthen customer relationships and boost repeat sales.
Specialty e-commerce stores: If you sell niche categories, store credit will lock in first-time buyers for future purchases, especially if your product is part of a recurring need or hobby. Learn how Witch, Please!, a wizard-themed homeware shop based in the UK, has generated $34,157 in total sales with store credit.
How to set up a basic store credit reward with Koin Cashback & Store Credit
Step 1: Install the app
Step 2: Choose your program
There, you will see two types of programs:
Cashback: This program allows you to reward your customers with store credit based on their purchases.
Custom program: You will be able to automate complex sequences without having any coding experience, all thanks to Shopify Flow.
Step 3: Set up a basic cashback reward
*If you choose to create Custom program, Koin has ready-made templates to help you hit the ground running.
Need extra help? Check out our video tutorials or reach out to customer support available in the app.
Conclusion
While Shopify's native feature covers the basics, Koin unlocks the full potential of store credit with automation, customization, and seamless integration.
Whether you're a merchant in fashion dealing with returns, running a large merchandise store, or selling specialty products, store credit can transform how you build customer loyalty. Best of all? Koin Cashback Store Credit makes it simple to get started.
Ready to turn refunds into repeat customers?
Harry Nguyen
Digital Marketing Specialist at Qikify
Hi, I’m Harry, your friendly neighborhood marketer at Qikify. I am all about providing E-commerce merchants like you with the best insights and industry tips to help you grow your online stores and drive more sales.
Out of office, I like working out at a gym and learning about all things E-commerce and Marketing.
Feel free to reach out to me on LinkedIn. I’m always up for a coffee chat with other marketing folks and store owners to exchange ideas and explore potential collaborations.
