Loop Commerce Makes On-line Gifting Easy

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Silicon Valley based startup Loop Commerce has developed SaaS solution that fully integrates with a retailer’s store and allows retailers to make every available product giftable. Loop Commerce has recently announced $16 Million in new funding. Below is our interview with Barbara O’Connor from Loop Commerce team:

Q: Loop Commerce is on a mission to reshape e-commerce and gifting. Could you explain the function and advantages of your platform?

A: Loop Commerce is driving a paradigm shift in e-commerce by removing the obstacles consumers face when trying to buy a real physical product as a gift. E-commerce systems were developed to enable customers to buy items for themselves and not designed to handle the challenges a consumer faces when trying to buy a product as a gift for someone else. Loop makes any product in a retailers’ store easily giftable. Customers can purchase products as gifts, without needing to know the recipient’s exact size, color, style preference or shipping address.

Loop is an enterprise-grade, fully customizable, e-gifting solution powering the shopping experience, checkout and delivery for the world’s top retailers. It integrates seamlessly with retailers’ online stores and backend systems enabling implementation in 4 weeks with minimal IT resources required from the retailer. The company’s SaaS solution was built and optimized with significant R&D and collective experience working with some of the largest and most demanding retail brands.

Q:What are the biggest benefits for the users?

A: User benefits include being able to give a gift online that includes the thoughtfulness of a chosen gift, the flexibility of a gift card, and the convenience of online shopping.

Specific benefits for the gift sender are as follows:

Flexibility to buy thoughtful gifts without knowing the shipping address, proper size or color or exact style
Ability to purchase ‘hard to gift’ items that are more personal in nature without worrying about ‘getting it wrong’
Ideal last-minute gifting solution because there is no worry about meeting shipping and delivery deadlines
Eliminates the hassles associated with returns or exchanges for the gift recipient

Specific benefits for the gift recipient are as follows:

Instant gift notifications
Ability to configure gift to suit their own preference
Easy to exchange ‘virtually’ online prior to shipping
Gift delivery to the address of their choosing

Q: Loop delivers an emotional gifting experience for consumers, how is the response to Loop so far?

A: The response from both retailers and their customers has surpassed our expectations. Although we launched only late last year, we have seen hundreds of thousands of consumers interact with our platform. Consumers are delighted that they are able to send a thoughtful gift that provides their recipient the ability to accept it as is, or the flexibility to virtually exchange it online to get exactly what they want prior to it shipping. In fact, we have seen that 60% of e-gifts are items typically considered as ‘hard to gift,’ (e.g. apparel, shoes, accessories, cosmetics, etc…) that would not otherwise be purchased for fear of the gift giver ‘getting it wrong.’ We have also seen a greater percentage of males are using e-gifting than normally purchase gifts.

Q: You’ve recently announced $16 million in new funding, tell us something more? What are your plans for the future?

A: We are using this funding to accelerate our growth, including the hiring of new team members across most functions of the organization, notably in engineering, data, sales and marketing, product and design. The company growth is intended to meet the rapidly rising demand for our solution from retailers and consumers alike. We plan to continue to onboard new retailers to our e-gifting platform as well as to support unique partnerships with key players in the e-commerce, payment, and gifting ecosystems.

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