A "Repeat Purchase" occurs when a customer buys the same product or service more than once. This behavior indicates customer satisfaction and loyalty, as the buyer finds value in the item. Businesses often track repeat purchases to understand consumer preferences and improve their offerings. Encouraging repeat purchases is essential for many companies, as acquiring new customers can be more expensive than retaining existing ones. Strategies like loyalty programs, discounts, and personalized marketing can help increase the likelihood of repeat purchases, ultimately boosting revenue and fostering long-term relationships with customers.