Liverpool were beaten 5-4 on penalties by Arsenal after a 1-1 draw in normal time as The Reds lost their second Community Shield in as many years.
Pierre-Emerick Aubamenyang opened the scoring for Arsenal early in the first half, powerfully arrowing an effort from the edge of the box into the bottom right corner.
Liverpool substitute Takumi Minamino equalised for the Premier League champions in the second half after he latched onto a loose ball in the box and slotted past Emiliano Martinez, however neither side could find a winner and the game went to penalties.
Liverpool forward Rhian Brewster missed his spot-kick as his effort rattled the crossbar. Unfortunately for his side, Arsenal managed to score all five of their attempts - meaning The Gunners took home the trophy.
After the match, Jurgen Klopp virtually addressed the media.
Here are his most important responses, as quoted by the official Liverpool website:
• On what the result means for the upcoming season
"We were here to win the game, I hope that was obvious. We didn’t win the game – we didn’t lose it, but we lost the competition obviously because of a penalty shootout. And because we conceded a goal from Aubameyang and didn’t use our chances, then the game is open. We scored late, which was not a problem but we could have scored earlier, that would have helped. We had the game in the right direction then, I would say, but time was not enough. That’s how it is."
Klopp was asked what the result meant for both sides going into the new Premier League season, and the German's response showed he still has one objective on his mind - to win.
After Arsenal's opening goal, The Reds started to create chance after chance and it took just under 75 minutes for them to find their equaliser through Minamino, but with his side managing 15 shots and 60% possession at Wembley, you would expect Klopp's side to be more clinical in front of goal.
The 53-year-old nevertheless didn't seem very disappointed with the outcome of the match, as it was once again another chance for him to have a look at his squad ahead of the new season.
• On Minamino's first goal for Liverpool
"It was big for him and big for us because it was the only thing he lacked since he is with us. He didn’t score a goal [before], but had situations and was close in plenty of moments. That helped of course. The shape he is in is obviously good, I think everybody could see when he came on. Then, the goal is more or less the logical step after performing on the level he performs now, especially in the pre-season. I am very pleased for him."
After his £7.25 million pound transfer in January from RB Salzburg to Liverpool, Minamino had struggled to adapt to the Premier League. His first goal for the Reds could potentially give the Japanese international the confidence boost he needs.
The 25-year-old forward has been one of the most exciting players to watch during Liverpool's pre-season campaign, where so far he's managed to impress fans in each of his outings.
Coming on for Neco Williams in the 59th minute, Minamino swayed the game in Liverpool's favour, and his quick-thinking on the ball gave Klopp's side a new dynamic going forward which led to the equaliser.
Klopp will be hoping that it was the first of many for the Japanese forward this season and that he will be able to play a big part in Liverpool's title defence.
• On subbing on Brewster to take a penalty
"I think with his technique – his shooting and finishing technique – I don’t think ever in his life there will be a goalie in touch with the ball around a penalty, but missing it like this is possible because he takes full risk. I didn’t see him ever missing a penalty since we worked together. Today it happened; that can happen, that’s how it is."
Brewster was brought off the bench in the 92nd minute of the match for Georginio Wijnaldum - a decision made by Klopp with the penalty shootout prioritised in his mind.
Brewster was Liverpool's third spot-kick taker, and his effort directed for the top left corner was powered too high - skimming the top of the crossbar and unfortunately proving the costly miss.
Even though he couldn't convert his spot-kick, bringing a 20-year-old on to take a penalty with a chance of silverware on the line just goes to show how highly Klopp thinks of the striker, and for Brewster to step up and take the spot-kick shows the level of confidence he possesses.
The Englishman recorded 11 goals on loan at Championship side Swansea City last season, and it still remains unknown if Klopp will deploy him on loan once again or keep him for the upcoming season.
• On the comeback of the five-sub rule
"We have 38 Premier League games in a four-week-shorter season, that says it all. All the other competitions will be pretty much the same as far as I know, so that means that these things will help.
"It is really, how can we get through the season. I think for getting in a good way through the season, for the sake of the football players and the performance levels, I think it would make sense. But I don’t make the decision."
Earlier this month the FA decided against keeping the five substitute rule that was implemented during the back-end of last season's Premier League campaign, however there is now debate over whether it should return or not for the upcoming season.
As Klopp suggested, the new Premier League season will be one of the most demanding in history with the season four-weeks shorter than usual, meaning congested fixtures for every team which can result in fatigue and injuries.
This rule is bound to favour teams with bigger squads, however Klopp made a good point about it being helpful for rotation during the season.
For the Reds this can offer younger players a chance at improving their development with first-team football, meaning the likes of Curtis Jones, Brewster and Williams will benefit the most from this rule being implemented.
• On Liverpool's performance
"With parts of the game, I was obviously pleased because I know in which situation we are, what we did in training and all the stuff that I expected today from a physical point of view, from a tactical point of view. The game we had to play here today against a deep defensive block, 5-4-1, you need to have 100 percent fresh legs, your decision-making needs to be on top.
"We had our two or three big moments, which we didn’t finish off. That’s what then decides games, we know that, and so that’s the reason for the result."
It took constant pressure and lots of patience for Liverpool to create some great chances, but in the end the Reds weren't clinical enough in front of goal and paid the price for it.
Sadio Mane found himself one-on-one with Martinez on two occasions but failed to execute, whilst Virgil Van Dijk had his goal in the opening minutes chalked off for offside.
Liverpool had problems trying to break-down the deep-lying Arsenal midfield with little space in the middle during the first half. The introduction of Naby Keita and Minamino was the turning point in the game, with many fans reasoning one of the two should've started the match.
A positive Klopp can take from the Community Shield defeat is the versatility his squad has to offer - when his side are struggling to create chances the likes of Minamino and Keita are available to offer the Reds a new option in attack.