PYMNTS Innovator Disrupts the “Archaic and Dysfunctional Paper Coupon Business”

Title: CEO

Company: SavingStar

What I’m working on now… Revolutionizing the grocery coupon business

What problem I am solving by doing it… Disrupting the archaic and dysfunctional paper coupon business by enabling consumers to save at grocery/drug stores by linking coupon values to all of their store loyalty cards — nothing to print, nothing to clip

My crowning achievement is… Launching SavingStar, the first and only national paperless grocery coupon service online and/or with our iPhone/Android app

When I go shopping, my preferred method of payment is… Credit cards since I earn rewards (but I do love the Starbucks app where I scan to pay)

I think the next big thing for digital couponing is… Mobile grocery coupons. Smartphones empower consumers to select coupons whenever and wherever they are without having to plan their coupon use beforehand — convenient, secure, relevant and discreet.

Cash is… Less and less relevant to consumers as more and more deals are tied to card use

Merchant loyalty programs are… Important but will become even more impactful when included with the high relevance and frequency of grocery/drug savings

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eCommerce will… Awesome but the vast majority of consumers still shop “bricks & mortar” stores and providing value here is critically important

Mobile commerce will… Growing faster than people think

Social commerce is… Exciting. Almost everyone I know asks their Facebook or Google+ friends for advice. It’s only natural that brands will further integrate with social media to let users more easily broadcast the products they use.

Many new ventures in retail don’t cut it because… They lose focus on the customer’s primary needs.

The most important thing to consumers is… Providing value — simple, relevant, convenient value.

My mentor is/and what I have learned from him or her…  My best friend’s dad (Richard MacArthur), follow your dream and live your passion.

Bio: Founder and Chief Executive Officer (CEO) of SavingStar, David Rochon brings 25 years of grocery industry experience and proven leadership to SavingStar, Inc.

Prior to co-founding SavingStar in 2010, David was an early employee and later became president of Upromise, Inc., a college savings service that allows members to direct their spending to Upromise partners in order to save money for college. Launched in 2001 and acquired in 2006 by Sallie Mae, Inc., Upromise is the largest private source of college funding in the U.S. today.

Before Upromise, David was founder, president & CEO of SuperMarkets Online, Inc., a subsidiary of Catalina Marketing Corporation. He pioneered the development and execution of secure digital coupons in the late 1990s under the ValuPage brand. Incubated by Catalina Marketing, SuperMarkets Online secured venture capital from Tribune Ventures and grew to become the 37th most visited site on the web.

David holds a Bachelor of Arts degree in Applied Economics and Management from Cornell University.