Loop Returns | EcommerceTech (2024)

All about

What is Loop Returns?

Loop Returns is all about automated return management. Intercept, mitigate, surprise and delight, while increasing Lifetime Value and brand equity.

A return doesn’t always mean a refund. Loop is aimed at reducing returns, increasing exchanges, and automating the process so that your team isn’t bogged down with very repetitive ticket processing.

In the beginning, as a brand, you may want to simply refund a customer with store credit and let them make a new purchase. This is a clunky process that causes confusion, leading to churned customers. Instead, Loop Returns helps save the sale by making it easy to simply exchange products by creating a discount for the exchange of the replacement product(s) so that it comes in properly through your regular order process. This saves your customer support team valuable time. And Loop Returns will automatically check if items are returnable, past their return window, or marked as #final-sale (as a tag in Shopify or your eCommerce platform) to prevent non-returnable items from getting through.

Loop Returns recognized that offering free exchanges and a credit on refunds will decrease your refund rate. They have a refund mitigation step called “Shop Now” which is working to “save the sale” by incentivizing the customer to buy other products from the store, thus not giving the full refund. Oftentimes they give a small $5 or $10 bonus for “Shopping Now” rather than getting the refund.

And, they work with Easypost to automatically create a return printing label so that your customer can easily send back the product.

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

  • List

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

What makes Loop Returns different than competitors?

Loop Returns "Shop Now" functionality, coming in before the completion of the refund is a very unique feature and critical to saving as many sales as possible.

"Instant Exchange" allows a consumer to buy products now, rather than waiting for the returned item to be received and processed. The consumer simply enters their credit card information, but is not charged, and the brand uses this for protection, in case the returned item is not properly shipped to the brand timely. Over 50% of customers choose Instant Exchange, getting their products much faster than waiting for the return to process. Over 95% of consumers successfully return the item within the 14 day timeframe.

They allow you to shop the brand website, using their own overlay, and then redirect you to their exchange portal at checkout. (In the future, this will be deprecated as Shopify opens up their checkout page for modification.)

What metrics is Loop Returns going to improve for my Ecommerce store?

Loop Returns sees average decreases in refunds of 20-25% and an average exchange rate of about 40%.

They are working to improve Lifetime Value and retention through their refund mitigation functionality and return management platform, and also generate additional upsell/cross-sell revenue by redirecting refunds to exchanges.

Who has to manage Loop Returns and how long does it take to setup?

Typically the person investing in Loop Returns is the head of eCommerce, head of operations, or customer support team. For a small team, you’re probably making the decision with your CEO and head of operations. For larger brands, you might bring in 3-4 people, maybe even including the CFO, someone from marketing, someone from the operations, and make a decision on the platform together.

You need to setup your return page and possibly adjust your return policy, including tagging products that are final sale, or adding return expiration dates to the products that may need them (like food, or seasonal products that should not be returnable after X days).

Mostly, once you are setup, you don’t have to go into their backend and change all too much. Their platform is automating the return and exchange process with little to no intervention needed from your team.

Your head of warehouse operations, head of returns, or operations manager will need to process returns as they come in. If you are working with a 3PL, you can either give them access to Loop, have them API in (they have many 3PL integrations) so that they can process returns as they come in, or you can send them an Advanced Shipping Notice Report, and when they send back the returned items they have received, you (as the head of operations) can easily compare that to approve the appropriate orders.

Is Loop Returns right for my store?

Obviously the more returns you have, the more you need a return management platform. This tends to be fashion and apparel brands, beauty, home goods, and other types of companies that have some sort of “wrong size” or “broken product” problems quite often with their customers.

Right now Loop Returns only operates on Shopify/Shopify Plus.

When you start to see more than 1 return a day, it starts to become a headache, but you could still do it yourself, if you have the bandwidth. At a few returns a day, you really want to invest in the platform as it will save you time.

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Loop Returns | EcommerceTech (2024)

FAQs

How do Loop Returns work? ›

Loop Returns is a Shopify platform that enables merchants to simplify the returns process and encourage customers to turn returns into exchanges by offering 4 ways to return: exchange, shop now, store credit or refund.

Why does the loop return? ›

Instead, Loop Returns helps save the sale by making it easy to simply exchange products by creating a discount for the exchange of the replacement product(s) so that it comes in properly through your regular order process. This saves your customer support team valuable time.

Who is the owner of Loop Returns? ›

Jonathan Poma is Loop's co-founder and CEO. His passion for solving problems is matched only by his passion for seeing humans grow. These passions have fueled Loop's growth and success to date, as Loop delivers the best returns software for merchants and shoppers alike.

Does Loop integrate with Shopify? ›

By integrating Loop with Shopify Fulfillment Network (SFN), you can focus on growing your business while also making the returns process easier for your customers. Loop helps you automate your returns process.

What is a loop and how does it work? ›

In computer programming, a loop is a sequence of instruction s that is continually repeated until a certain condition is reached. Typically, a certain process is done, such as getting an item of data and changing it, and then some condition is checked such as whether a counter has reached a prescribed number.

How does return works? ›

A return statement ends the execution of a function, and returns control to the calling function. Execution resumes in the calling function at the point immediately following the call. A return statement can return a value to the calling function. For more information, see Return type.

Can you play music on loop earplugs? ›

Loop Experience earplugs can help you to reduce noise by up to 18 decibels, allowing you to fully immerse yourself into your music without having to sacrifice the health of your ears.

What does return mean in a loop? ›

A return basically ends the function then and there. In your code you're basically saying “return this value x back to the place that called me, and exit the function and loop now”.

What is the Loop dating app? ›

Loop is the social network for meeting and matchmaking through friends, events, and communities. On Loop, everyone plays matchmaker for their single friends. Singles can also see who their friends know and ask for intros through the app, removing any social friction and making matchmaking easy.

Are Loop Returns publicly traded? ›

Loop Returns is a privately held company and is not publicly traded on NYSE or NASDAQ in the U.S. To buy pre-IPO shares of a private company, you need to be an accredited investor.

How many users does Loop have? ›

Since its launch, Loop has targeted young professionals and students, reaching around 2 million people through its social and digital activities.

Who is Matt CEO of loop? ›

Matthew McKinney, B.S. ISE '13, believes there is a better way. McKinney is the co-founder and chief executive of Chicago-based Loop, a company that, in his words, “aims to unlock profit trapped in the supply chain” by removing friction in logistics payment to increase liquidity for every stakeholder.”

What do loop returns do? ›

Automate your returns management to reduce costs, retain more revenue, and drive customer loyalty. Your brand deserves better returns. Our automated platform drives customer lifetime value and saves more sales by creating a shopping experience inside the returns experience.

What is loop in Shopify? ›

Loop is a return management app that grows with 1,800+ Shopify brands, who see 30% less refunds and 50% more retained revenue on their returns. To improve your returns, we provide complete returns automation, new product exchanges, a customized portal, & more. We understand that every Shopify merchant is unique.

How much is Microsoft Loop? ›

Microsoft Loop is currently available at no cost for personal Microsoft Accounts, Microsoft 365 subscribers and users with a Microsoft work/school account.

What happens when we use return in for loop? ›

“return” means to stop the execution of the function/method right here! So, it can be anywhere in the method, whether at the end of the method/function or in a loop, etc.

What happens when you return in a while loop? ›

Return is used to immediately stop execution of a function and return a value back to where it was called from. This means it will break all loops contained in the current function call. If you want to break out of a single loop you need to use the break statement instead.

How do you return a loop without a break? ›

  1. As far as I know, continue statement does not exit a loop, it skips rest of the code in the loop then begins next iteration.
  2. Here are various ways to exit a loop without break statement.
  3. return statement. ...
  4. By making the loop condition false. ...
  5. goto statement.
Aug 29, 2022

Can you return loop earplugs? ›

This warranty applies to all Loop branded products only (e.g., earplugs, carry cases, mute, carry cords). If your product covered by this warranty fails due to a manufacturing defect, we will repair it without charge, or replace it, at our discretion.

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