VANCOUVER, BC, May 18th, 2021 – Loop Insights Inc. (TSX.V: MTRX) (RACMF:OTCQB) (the “Company” or “Loop”), a global leader in providing real-time data analytics through artificial intelligence to drive customer activation and engagement, is pleased to announce that they have completed the integration of the Loop Wallet pass platform and The Coupon Bureau’s new Universal Digital Coupon standard. The Coupon Bureau (TCB), is a non-profit data exchange helping Retailers and Brands to utilize their new Universal Digital Coupon standard to improve the customer coupon redemption experience and reduce fraud. Coupon fraud is a serious concern for Consumer Packaged Goods (CPG) brands, with Trend Micro estimating that over $300-600m is lost by these brands each year due to fraud.
When TCB Digital 8112 Coupons are delivered through Loop’s Wallet pass platform, this will enable users to finally be able to use their mobile phones to redeem coupons in a truly contactless and secure way. Customers will not have to download and install a separate app to redeem their coupons, they can simply redeem them directly through their mobile phone using Loop’s Wallet pass platform which leverages the native wallet that is already built into every iOS and Android smartphone globally.
Just as importantly, Loop will be able to generate significant revenue from this integration. There are revenue models that take into account revenue per active coupon, per impression, per redemption as well as earning revenue from each participating retailer or CPG and quarterly and annual licenses for access to insights and analytics.
Loop Insights CEO Rob Anson states: “As was highlighted in the recent announcement of Loop’s strategic alliance with NielsenIQ, Loop brings the power of personalization at scale and powers “the last inch” in the purchase process in-store, which provides the CPG Brands with real time campaign performance and attribution metrics that don’t exist in today’s market. Combined with NielsenIQ, who works with some of the top global CPG brands and retailers, this integration with TCB will continue Loop’s disruption of the retail sector and position Loop to continue accelerated growth and market disruption. When we look back at the end of 2021, this TCB and Loop integration will be appreciated as a true game-changer for Loop in terms of industry exposure and most importantly its path to revenue.”
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.”
Forward Thinking Retailers are turning to Loop
Forward-thinking retailers such as Sobeys, Canada’s second-largest grocery chain who Loop is currently working on a POC with are looking to better manage and monetize the entire customer journey from transaction to coupon redemption to personalized real-time promotions and loyalty programs. These retailers are turning to Loop to help them automate their processes by consolidating all of their offline and online customer transaction data, gaining insights into their customer purchasing habits, and then engaging with their customers providing improved customer service and increasing their share of the customer’s wallet. Loop’s integration of the TCB Universal Digital Coupon standard is another piece of the complete solution that Loop offers to Retailers and CPG brands to help them connect directly with their customers in real-time.
This Press Release Is Available On the Loop Insights website, and also on the Verified Forum On AGORACOM For Shareholder Discussion And Management Engagement
The Coupon Bureau is an open-market platform connecting all stakeholders to the new Universal Positive Offer File. We help support smarter promotions and enable the ongoing growth of the industry. This allows all current stakeholders to maintain their current business functions and expand those by utilizing The Coupon Bureau connectivity. For more information, visit http://www.thecouponbureau.org/
Loop Insights Inc. is a Vancouver-based Internet of Things (“IoT”) technology company that delivers transformative artificial intelligence (“AI”) automated marketing, contact tracing, and contactless solutions to the brick and mortar space. Its unique IoT device, Fobi, enables data connectivity across online and on-premise platforms to provide real-time, detailed insights and automated, personalized engagement. Its ability to integrate seamlessly into existing infrastructure, and customize campaigns according to each vertical, creates a highly scalable solution for its prospective global clients that span industries. Loop Insights operates in the telecom, casino gaming, sports and entertainment, hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia. Loop’s products and services are backed by Amazon’s Partner Network.
This news release contains certain statements that constitute forward-looking statements or information, including statements regarding Loop’s business and technology; the ability of Loop to engage with industry participants to achieve its goals; the development of Loop’s technology; and the viability of Loop’s business model. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Loop’s control, including the impact of general economic conditions, industry conditions, competition from other industry participants, stock market volatility, and the ability to access sufficient capital from internal and external sources. Although Loop believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated, or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Loop does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Loop should be considered highly speculative. There can be no assurance that Loop will be able to achieve all or any of its proposed objectives.
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