Loop Insights Enters $225B CPG Retail Market With Successful Integration With The Coupon Bureau to Deliver Verified Universal Digital Coupons Through Loop’s Wallet Pass Platform - Seite 2

The coupon industry is in dire need of digital standards and Loop & TCB are leading the way

In 2020, according to TCB, there were over 1.3 billion coupons redeemed, and the CPG brands spent more than $225 billion in promotional spending on coupons, which is a huge market.  However, according to Kantar, only 4.2% of all CPG coupons were distributed digitally, and digital coupons only represented 3.4% of the total value of coupons distributed.  Primarily due to the lack of a standardized digital ecosystem, this discrepancy clearly goes against what consumers are demanding both from a convenience and a safety perspective in a post-Covid world.  Consumers want to be able to redeem their coupons on their mobile phones and they want safe, contactless redemption technologies, which is what Loop is helping to deliver with their Wallet pass platform and the new TCB Universal Digital Coupons.

Loop Insights CTO Tamer Shafiq states: “Leveraging The Coupon Bureau’s latest standard AI (8112) provides universal, single-use, real-time validated coupons. Paired with Loop Insights’ blockchain-backed Wallet pass implementation, this results in a fully interoperable solution, where both the authenticity of the coupon, and its validity, can be confirmed in real time by any verifier.”

Brandi Johnson, CEO of TCB states: "The COVID-19 crisis has significantly impacted the coupon and retail industry, especially with the rise in e-commerce sales and online deliveries. To combat this, the retail industry has had to find innovative ways to meet consumers’ changing behavior.  I have been blown away by Loop Insights, their vision, technology, and their innovative approach. The Loop Wallet pass integration with our new coupon standard is truly revolutionary and will significantly improve the customer experience.  If you dig deeper, it goes further, their ability to collect offline and online transactional data, provide insights and then help retailers and brands engage with their customers in real-time through their mobile phones with digital coupons and provide full attribution is truly game-changing for forward-thinking retailers and brands.”