Buy rate refers to the frequency with which consumers purchase a particular product over a specific period, typically measured in terms of dollars or units per household or per buyer. It is an important metric that helps companies understand how often consumers are buying their product, providing insights into customer loyalty, repeat rate, and overall product demand.
A high buy rate indicates that consumers are returning to purchase the product regularly, suggesting strong customer satisfaction and a high level of brand loyalty. Buy rates are influenced by two major factors – purchase frequency and purchase size. Buy rates are part of consumer panel data.