MENLO PARK, Calif.--(BUSINESS WIRE)--Loop Commerce today announced that it has been issued a patent for its award-winning gifting service, demonstrating the Company’s leadership and innovation in e-commerce – US Patent 9,773,273. The GiftNow® service is already used by many leading retailers and brands including Macy’s, Saks Fifth Avenue, and Neiman Marcus.
Seamlessly integrated with brand’s and merchant’s online stores, GiftNow® digitizes merchandise, enabling consumers to easily purchase and instantly deliver any product online to someone else. The receiver can then customize the gift to fit their size and color needs, or exchange the gift altogether before it even ships. As the industry’s pioneers, Loop not only created and introduced this major category to the industry, but also coined the term Gift-Commerce (G-Commerce) to describe it.
"When we started Loop, no technology existed to facilitate this new type of transaction - eliminating the risk and uncertainty associated with shopping online for others on a retailers site, so we had to create it,” said Roy Erez, CEO and Co-Founder of Loop Commerce. “From the beginning, we recognized the importance of developing and protecting our intellectual property that solved a major problem in the commerce industry that was, until then, built and optimized mostly for self-purchase. We at Loop fully recognize and appreciate the importance and necessity of the continued growth, development, and protection of the intellectual property surrounding our technology.”
Loop's GiftNow® service is used by leading retailers and brands such as Macy’s, Coach, Neiman Marcus, Saks Fifth Avenue and Bergdorf Goodman. These retailers are benefiting from the value of working with the leading and most experienced company, the most sophisticated technology, as well as the value of being part of the most robust and growing network of leading retailers using the service.
By eliminating hurdles previously associated with shopping online for others, Loop’s patented system encourages digital gift giving, gift giving, which drives incremental sales, facilitates customer acquisition, and reduces returns.
About Loop Commerce
Loop Commerce is driving a paradigm shift in e-commerce by removing the obstacles consumers face when trying to buy a physical product as a gift. Loop is an enterprise-grade, fully customizable, e-commerce solution powering the shopping experience, checkout and gifting platform with its award winning, patented GiftNow service for leading retailers. By integrating the personalization of gifting with the convenience of online shopping, Loop makes buying gifts not only simpler and more thoughtful for consumers, but accessible when no other option exists, therefore driving significant business value and incremental sales for retailers. Loop’s solution seamlessly integrates with retailers’ online stores through a zero-integration implementation, fueling increased business, reducing costly returns and exchanges, and enhancing customer acquisition and loyalty. The company’s groundbreaking SaaS solution was built and optimized with significant R&D and collective experience working with some of the largest and most demanding retail brands. Loop is backed by PayPal and key executives in technology, e-commerce and retail. For more information about Loop Commerce, visit our website and follow us on Twitter @LoopCommerce and on LinkedIn.