Definition of Recency effect:
Observation that customers who have recently bought a firms product are more likely to buy again the same product or other offers by the same firm. See also flighting.
How to use Recency effect in a sentence?
- The recency effect was a potential source or knowledge, specifically an explanation to provide us with insight on customer purchase patterns.
- The recency effect was right and our most recent customers would always come back for a little more from the store.
- You should factor in how the recency effect may work into your favor whenever you enter into a negotiation with a past client.
Meaning of Recency effect & Recency effect Definition