Loop takes novel approach to funding returns

Celene Ignacio

4th Nov 2024

Logistics platform Loop has launched pre-purchase returns solution Offset, allowing retailers to provide customers the option to pay an upfront fee during checkout to facilitate returns later.

“Offset marks a major step forward in helping merchants recoup the rising costs of returns while continuing to deliver a stellar customer experience,” said Hannah Bravo, CEO of Loop.

“Offset offers the world-class, convenient return options consumers expect today and represents the evolution of the returns experience.”

Mac Duggal, Margaux, and Grant Stone are among the first adopters of Offset to cover their return costs ahead of the peak shopping season. These retailers report that more than 80 per cent of shoppers given the option to purchase Offset choose to do so.

Loop says that during beta testing prior to launch, 80 per cent of shoppers opted in and increased their average orders by almost 10 per cent, most likely due to feeling unhindered by return fees.