About Aaron Schwartz
Aaron Schwartz is the President of Loop with an extensive history working, advising, and investing in startups. With 10+ years in modern Commerce, Aaron’s focus tends to be on all things go to market, fundraising, strategy, and helping founders navigate emotionally through the early stages of company building. As a 3x founder himself, Aaron’s passion for Commerce has led him to his position at Loop today. Aaron received his undergraduate degree from Columbia University, and his masters from the University of California, Berkeley, Haas School of Business. He joined Loop in April of 2021.
Loop is a post-purchase platform that enables Shopify’s biggest brands, such as Allbirds, FIGS, Princess Polly and Chubbies, to transform returns into exchanges. Based in Columbus, Ohio, the company helps over 1,200 brands increase customer loyalty, retain more revenue, and lower reverse logistics costs. Through innovative features like Instant Exchanges, Shop Now, and Bonus Credit, Loop has helped merchants retain more than $400 million in revenue over the past five years.
Key Takeaways: Ecommerce’s Dirty Little Secret
- Aaron Schwartz is the President of Loop, a post-purchase platform that enables brands to transform returns into exchanges.
- In the podcast interview, Joe and Aaron discuss ecommerce’s dirty little secret, which is returns.
- Ecommerce buyers return up to 30% of online purchases – the number varies greatly by product and company, but it is a problem for everyone.
- Loop specializes in returns and they have made a science of it.
- Loop’s goal is to change returns into exchanges.
- Loop manages the pixels, not the parcels meaning they are a technology company and they utilize the 3PL specified by the brand.
- Most brands focus on sales, marketing, and fulfillment and the returns process and costs are overlooked.
- Loop’s platform completely integrates with their customer’s systems, which enables Loop to manage the return process.
- Loop’s technology integration and seamless handling of the return process has the following advantages:
- Enables brands to focus on growing their business.
- Loop’s online return process is a nice experience for consumers and they are often convinced to exchange the product rather than ask for a return.
- When a return is transformed into an exchange, customer satisfaction rises, and the brand makes more money.