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Rebate Meaning: Definition, Examples, and Translations

๐Ÿ’ธ
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rebate

[หˆriหbeษชt ]

Definitions

Context #1 | Noun

financial

A partial refund to someone who has paid too much money for tax, rent, or a utility.

Synonyms

discount, refund, reimbursement.

Which Synonym Should You Choose?

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Word Description / Examples
rebate

Used in financial or commercial contexts to describe a portion of money returned to someone who has paid too much or as an incentive for purchasing a product or service.

  • 1
  • The government offered a tax rebate for energy-efficient home improvements
  • 2
  • You get a $50 rebate after buying this washing machine
refund

Used when someone is returning a product or canceling a service and getting their money back.

  • 1
  • If you are not satisfied with the product, we will give you a full refund
  • 2
  • She returned the dress and asked for a refund
discount

Commonly used in retail and sales to describe a reduction in the price of a product or service.

  • 1
  • They are offering a 20% discount on all winter clothing
  • 2
  • Students can get a discount on public transportation passes
reimbursement

Utilized often in professional or medical settings to describe the compensation paid back for expenses already incurred.

  • 1
  • Employees are eligible for reimbursement of travel expenses
  • 2
  • The insurance company promised full reimbursement for the medical costs

Examples of usage

  • Taxpayers are eligible for a rebate if they have overpaid their taxes.
  • The company offered a rebate to customers who purchased a certain product.
  • She applied for a rebate on her electricity bill.
  • The government announced a rebate scheme for homeowners installing solar panels.
  • Customers can claim a rebate on their water bills.
Context #2 | Verb

financial

To give a partial refund to someone who has paid too much money for tax, rent, or a utility.

Synonyms

compensate, refund, reimburse.

Examples of usage

  • The company rebated the customers who were overcharged.
  • The government will rebate taxpayers who have overpaid.

Translations

To see the translation, please select a language from the options available.

Interesting Facts

Economics

  • Rebates are often used by manufacturers or retailers as a marketing strategy to boost sales, encouraging customers to make purchases.
  • In many regions, rebates can be more attractive than discounts, as they often require consumers to take specific actions, such as filing a claim.
  • Economic studies suggest that rebates can effectively stimulate spending and encourage loyalty among customers.

Consumer Behavior

  • Research indicates that consumers perceive rebates as a way to achieve savings, even if actual savings may not always be realized.
  • Psychologically, the act of getting something back often feels more rewarding than receiving a discount upfront.
  • Certain consumers are more attracted to rebates than discounts due to the anticipation of a future reward, even if the rebate process might be complicated.

Legal Aspects

  • In some jurisdictions, the terms and processes surrounding rebates are regulated to prevent misleading advertising and to protect consumers.
  • Certain industries, such as pharmaceuticals or utilities, have specific regulations on how rebates can be distributed, aiming to maintain fairness and transparency.
  • The legality of rebates can vary significantly between countries, affecting how companies structure their promotional strategies.

Examples in Pop Culture

  • Many companies, especially in the electronics industry, use rebate offers during major sales events, such as Black Friday, to attract shoppers.
  • Television commercials frequently feature rebate promotions, often portraying them as easy ways to save money post-purchase.
  • Films and shows occasionally highlight rebates as a humorous plot point, showcasing characters dealing with the complexities of claiming their refunds.

Origin of 'rebate'

Main points about word origin

  • The word comes from the Middle English term 'rebaten', meaning to 'reduce' or 'lower' something.
  • Its roots can be traced back to the Old French word 'rabattre', which translates to 'to beat down' or 'to reduce'.
  • Initially used in the context of diminishing tax obligations or financial reductions in the 15th century.

The word 'rebate' originated from the Old French word 'rebate' meaning 'beat down, drive back'. The sense of 'discount on prices' emerged in the early 19th century. The financial meaning of 'a repayment of a sum paid' came into use in the late 19th century.

Word Frequency Rank

At position #13,779, this word is part of sophisticated English vocabulary. It's useful for academic or professional contexts where precise language is needed.