There’s an ages-old tradition among Father’s Day gift recipients who have endured the gaudy neck tie that seemed inspired by day-glo crime scene-investigation tape: the forced smile. Or the perennial frustration of gift givers who have an idea of what to present to a good friend for their birthday, and want to show how much they care, but are uncertain about what color or style to choose.
Getting the right gift to the right person is itself a challenge, but throw in the uncertainties that come with shopping online, such as knowing little to nothing about a gift recipient and their tastes, and gift giving suddenly becomes an unnecessarily complex exercise. Aside from frustration for shoppers, including recipients needing to return the gift, there’s a whole new set of burdens for retailers dealing with material loss of business caused by consumers who end up shopping at alternative stores – or simply resort to that impersonal back-up plan known as the gift card.
Often, the simplest solution can provide the answer. This idea gave us the kernel of what is being launched today as Loop Commerce.
Having been frustrated by my own unsatisfying gift-purchasing experiences, I delved deeply into this issue with my friend and partner Alex Sirota. After months of hard work and endless meetings with retailers, shoppers, e-commerce platforms, partners, and industry experts, we determined that there was indeed a way to change the way people buy gifts. We set out to develop an alternative way of gifting that is actually more natural than today’s online shopping experience, to create another option that would make everyone happy, including the gift buyers, recipients, and retailers. The result is a new platform and solution that easily integrates into a merchant’s store and makes everything they offer giftable. Not only does this eliminate the worst-case scenario of consumers buying the wrong gift, leading to countless returns and exchanges, but it opens up all products for retailers who traditionally have limited their inventory for gifting. Buyers no longer have to worry about product specifics, such as size, color, style, address or even shipping time. This also enables retailers to establish a direct relationship with each recipient, ensuring that the right product is sent to the consumer in the right way, while also introducing cross-sell and up-sell opportunities. We set out to build a robust and scalable solution for retailers that would deliver an amazing user experience for their shoppers.
Throughout the development of Loop Commerce, we have revealed all that it can offer to some of the top innovators and executives in e-commerce, technology and retail, who immediately “got it.” With their input and blessings, and in many cases, their financial backing, Loop Commerce now responds to the gift-giving quandary with a sophisticated but easy-to-use way for recipients to effectively choose a gift, down to the size and style that they desire.
– Roy Erez, Co-Founder and CEO, Loop Commerce