Reviewed by Aug 27, 2020| Updated on
What is Meant by Rain Check?
A rain check is a seller's guarantee or assurance to a customer that an item which is currently out of stock can be purchased at a later date at the current day's selling price. This pledge comes in written form, generally as a chit that customers will present when they come back to the store to purchase the concerned item.
The word got its roots from the baseball game during the 1800s. Spectators who watched games that were postponed or cancelled due to weather could obtain a check at no extra charge to attend a future game.
Concept of Rain Check Explained
Rain checks are most often issued by retail stores. Any advertisement of a sale needs a seller to accept a product's reduced price even though supplies run out. Usually, in the form of a paper coupon, consumers can submit a rain check if they are unable to buy the advertised item during the selling time. The majority of rain checks are based on location to be valid for 30, 60, or 90 days.
The rain check ensures that when its inventory is finally restored, consumers have the option to return and purchase the item at the discounted price. Retailers are not obligated to conduct rain checks if the advertisement specifically indicates that stocks are scarce or available at selected locations only.
Rain inspections also have a strategic advantage for retailers. Through a rain check offering, a company may discourage their customers from competing, and ensure that they return. Rain reviews are also used in other fields, including the entertainment and sports industries.
Let's say a supermart across your street usually sells Naturals oat cereal every week for Rs.40 per package. The management agrees to bring the cereal on sale for next week at Rs.25 per package. The store advertises the sale online and in its flyers. When you go to the store and find the Naturals oat cereal has sold out, you should order a rain check from the shop.
Vendors usually do not grant special promotions for rainchecks. And after the stock is exhausted a special labelled "Buy One, Get One Free" might not be available to a rain check.