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On January 1, 2023, NORWAY Company started offering customer loyalty program at its stores. The mechanics of the program states that for every P50 that
On January 1, 2023, NORWAY Company started offering customer loyalty program at its stores. The mechanics of the program states that for every P50 that the customer spends on goods, they will be rewarded with 1 point that is equivalent to P1 that can be used as payment for purchases in the future. Based on historical experience, it is expected that 90% of customers points will be redeemed. During 2023, the total product sales amounted to P2,250,000 and the total points earned was 40,000 points. During 2023, a total of 7,000 points were redeemed. During 2024, 22,000 points were redeemed but the company now expects a total of 38,000 points to be redeemed
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