Loop Commerce Unveils Its Top Gifts for Holiday So Far
Menlo Park, CA, December 12, 2017 – Loop Commerce, the leading digital gifting platform, today announced its top gifts for the 2017 Holiday season to date. According to Loop Commerce, men’s apparel, women’s handbags, and women’s apparel were the top three gifts so far this holiday season with 19 percent, 17 percent, and 15 percent of purchases through its GiftNow platform within these categories, respectively. Watches and women’s shoes were the fourth and fifth most popular gifts, both around five percent of purchases.
Loop Commerce is the creator of GiftNow®, its patented and popular online service used by many leading retailers and top brands including Target, Saks Fifth Avenue, Coach, Macy’s, Banana Republic, Neiman Marcus and many others. GiftNow unlocks new revenue opportunities for retailers by enabling consumers to easily purchase and instantly deliver any product online to someone else without concerns about the size, color, style or even shipping address.
The results also showed a growing number of men are moving to digital gifting, with 46 percent of all transactions being completed by men, up from 38 percent for the same period last year. Women were still the primary gift receivers at 65 percent of sales, roughly the same as the same period last year. The results were based on an analysis by Loop Commerce of GiftNow transactions completed between Black Friday through December 9.
“With consumers shopping online in record numbers this holiday season, it’s clear that they want to send more personalized gifts which may once have been considered too ‘risky’, particularly if the buyer wasn’t sure of the style choice, size, or shipping address,” said Roy Erez, CEO and Co-Founder of Loop Commerce. “GiftNow is transforming the digital gifting experience for holiday shoppers, and influencing the kinds of products making their way to loved ones this year. It’s fewer coffee makers, fragrances and electronics, and more clothing, high-end accessories and shoes, which the gift receiver can now modify before they’re shipped to ensure the gift is perfectly suited to them, thanks to GiftNow.”
Significant Findings of the Survey Include:
Continued Shift Toward More Thoughtful, Personalized Gifts including Apparel, Shoes and Handbags
According to Loop Commerce, traditional gifts such as kitchen items, fragrances, and luggage have given way to gifts once considered risky for gift buyers concerned with choosing the right style, size or the shipping address. Top Holiday 2017 purchases to date included men’s chinos and women’s outerwear, with leather handbags, women’s leather boots and gold watches are also popular.
Consumers Still Buying Gifts on Desktop, But Mobile Phone is Gaining Traction
This year’s gift buying data also showed continued preference by consumers to browse for gifts on their mobile devices such as tablet (17 percent) or mobile phone (56 percent) but make the purchase using their desktop. Roughly 54 percent of all GiftNow purchases were made using a desktop, versus 38 percent on mobile and 8 percent on tablet. However, when compared to 67 percent of sales taking place on the desktop during the same period last year, and 69 in 2015, it is clear that mobile purchasing is picking up steam and numbers may be significantly different this time next year.
More Men Buying Gift Online, But Spending Less This Year
While men represented an 8 percent point increase of overall transactions compared to the same Holiday period a year ago (moving from 38 percent to 46 percent of total), they also spent less per gift this year according to GiftNow data. Compared to last year, men spent roughly 12 percent less this year on gifts versus last year. Women also spent 15 percent less per gift. This data is not surprising, however, as GiftNow became more mainstream in 2017, adding discount, department store, specialty shops and more to their list of previously luxury retail partners, which may have impacted year-over-year data comparisons. Consumers also seemed to be taking advantage of promotional offerings in their gift purchases.
About Loop Commerce
Loop Commerce is driving a paradigm shift in commerce with its award winning, patented GiftNow® service, by removing the obstacles consumers face when trying to buy a physical product as a gift. Loop is an enterprise-grade, fully customizable solution powering the gift shopping experience and checkout for leading retailers. By integrating the personalization of gifting and tackling the challenges associated with gift shopping, Loop makes buying gifts not only seamless, stress free and 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 www.loopcommerce.com, and follow us on LinkedIn
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