Fung Global Retail & Technology had the opportunity to interview Roy Erez, Co-Founder and CEO of Loop Commerce. Loop’s gifting solution is already used by many large retailers including Neiman Marcus, Saks Fifth Avenue, and Coach. Erez shared his insights about the gifting category and the emergence of what Loop defines as “G-Commerce” (gift commerce).
Loop Commerce is changing the landscape of the online gift-buying and receiving experience, creating new opportunities and leading the way to a $600B gifting market.
At the center of every shopping experience is the payment process. The way that brands
connect their products and services to their customers, and in turn receive their payments, is
the foundation upon which shopping is built. Digital payments, both online and in-store, are
transforming that foundation.
80% of Americans are now shopping through online channels on at least a monthly basis, and digital payments have
become a primary stream of revenue for brands across all channels1. While offering digital payment options has the
potential to simplify life for customers and increase conversion rates, they are creating an additional layer of complexity
that is challenging to keep up with.
Between the expanding number of digital payment technologies, the increasing number of devices payments can be
completed on, and the continuous blurring of digital and physical buying experiences, it is critical to ensure payments will
be successful for every person on every device and in every location.