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A 'first purchase' refers to the initial transaction made by a customer when they buy a product or service from a business. It is so named because it marks the customer's first commitment to the brand, often indicating the beginning of a potential long-term relationship. This initial purchase is critical for businesses as it can provide insights into customer preferences and behaviors, shaping future marketing strategies. Additionally, it often serves as a key metric for assessing customer acquisition and retention efforts.

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1d ago

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