The redemption rate for refunds is lower than that for coupons because:

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The redemption rate for refunds is lower than for coupons because more effort is required. When consumers receive a coupon, they only need to bring it to the store and present it at the time of purchase, whereas with a refund, the consumer needs to fill out a form, submit proof of purchase, and wait for the refund to be processed. This extra effort can discourage consumers from redeeming refunds, leading to a lower redemption rate compared to coupons.

The Redemption Rate for Refunds Is Lower Than That for Coupons