A rebate is a partial refund given to a buyer after they purchase a product or service. It is often used as a marketing strategy to encourage sales, allowing customers to receive a portion of their money back after completing a purchase. Rebates can be offered by manufacturers, retailers, or service providers and may require customers to submit a form or proof of purchase to receive the refund. Rebates can come in various forms, such as cash, store credit, or discounts on future purchases. They are commonly seen in industries like electronics, automotive, and home appliances, where companies like Best Buy or Ford may offer rebates to attract customers and boost sales.