DISCLAIMER: I only made it to the third loop and then I accidentally exited out.
Positives:
+I love the character art especially! For that matter all the sprite art was pleasant.
+Also the music takes me back to Dragon Quest and the Tales games.
+character designs are solid.
+The variety of items at the shop
Suggestions:
>One thing I would have liked is a better indication of which party member is currently being controlled, maybe animating them when it's their turn.
>More encounters per loop to level up and have more of an indication of how much stronger my party has become
>I kind of wish the demon lord killed me faster and the grind overall was shortened so I would get stronger faster.
>Progression is pretty slow for a game jam game
>I would have liked a visual indication of which characters are buffed
Overall:
I like the concept of looping to grind levels and equipment, but it is time consuming. Overall, I had a good time though. It is very impressive that you made such good RPG bones within the timeframe.