The definition of customer lifetime value is how much money the store gets from a customer over a lifetime of him or her using its products.
Customer lifetime value refers to the amount of money that a customer will spend in total on a certain company or store.
This means that this amount shows the estimated amount that a person will spend buying products from a company, or buying goods and services from a store over their lifetime. It is used to gauge which customer types are the most preferable.
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