SKUx, an innovative fintech company redefining the way consumer offers are delivered, redeemed, settled and reported, today announced the appointment of Jay Loeffler as company president. A highly successful growth strategist and industry innovator, Loeffler joins SKUx from Valpak and SKULocal, where he served as Chief Revenue Officer. Loeffler was already a member of the SKUx board of advisors.
“SKUx is redefining the future of product offers, rewards and loyalty for consumer manufacturers, brands and retailers,” said Loeffler. “SKUPay payment-based offers deliver new levels of value and convenience for consumers, while solving decades-old problems plaguing the multi-billion-dollar consumer offers and coupon industry. I’m excited to be part of our industry’s fintech transformation.”
While at Valpak, Loeffler led the fusion of social influencer marketing and traditional direct mail. He also created a subsidiary grocery brand, SKULocal, which has become the fastest growing division of Valpak over the past 5 years, serving major clients such as Procter & Gamble, Kraft, Unilever, Kellogg’s, Sam’s Club, Blue Bunny, Mars, Bayer, Shutterfly, Overstock.com, Total Wine and HEB grocery stores. Prior to Valpak, Loeffler served in a variety of leadership roles with Cox Target Media.
“Jay is a dynamic business leader with deep relationships and knowledge within consumer brands, retail, promotions and direct marketing,” said Jim Sampey, SKUx Co-Founder and CEO. “His track record for introducing and advancing breakthrough innovations that drive growth and performance for clients is a perfect fit for our mission at SKUx.”
Loeffler joins SKUx as the company advances a new fintech category of payment-based offers, called SKUPay. SKUPay is set to replace today’s outdated world and process of coupons, rebates, promotional offers, and settlement, solving long-term industry challenges for retailers, consumer brands, and marketing agencies and unlocking billions of dollars in value currently being lost to fraud and inefficiency. SKUx delivers a powerful end-to-end payments-based system across offer delivery, redemption, settlement and reporting that requires no special integration by retailers or brands.
SKUPay turns consumer offers into currency that can be redeemed as part of the normal payment process wherever mobile payments are accepted. It replaces coupons and promotional offers with trusted single-use, serialized offers that can be targeted down to the product SKU or UPC level. Retailers are reimbursed on a daily basis rather than waiting weeks or months for clearance and settlement. Marketers have unparalleled and near immediate visibility into their campaigns, allowing them to optimize performance and stay within predetermined budgets.