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Increasing Breakage Revenue
Occasion gives you the ability to increase breakage revenue for your business from the sale of gift cards and issuance of account credits.
Let's first familiarize with the concept of Breakage Revenue.
In this article, you will cover the following topics:
What is Breakage Revenue?
Breakage revenue refers to income that businesses earn from unused services or unredeemed credit by customers. When a customer buys a gift card but never redeems it or only partially uses it, the unspent amount becomes breakage revenue for the business.
For businesses of all sizes, breakage revenue is important because it provides a source of financial gain without a corresponding cost of goods sold or service provided. This can enhance profitability. Additionally, it allows you to increase cash flow more effectively, as you receive payment upfront for services that may never be fully claimed.
How to increase breakage revenue with Occasion?
There are two ways to increase breakage revenue with Occasion:
- Set expiration period when selling gift cards or issuing account credits
- Turn off reminder notices sent to customers when their credits are expiring.
- To do this:
- From your Occasion Workspace
- Go to Settings > Account Settings > Your Business > Credit
- Scroll down to "Email customers before credits expire" and toggle off.
- To do this: