Synchrony and Ashley HomeStore Renew Consumer Financing Program Agreement
Synchrony (NYSE: SYF) and Ashley HomeStore have announced a multi-year extension of their consumer financing program agreement, initially started in 2010. This partnership allows Ashley HomeStore customers to access competitive financing options for their purchases, enhancing the shopping experience both online and in-store. Synchrony's tailored financing solutions aim to empower Ashley HomeStore licensees, boosting sales and customer loyalty. Additionally, the companies are exploring contactless commerce options to adapt to pandemic-driven consumer preferences.
- Multi-year extension of financing program strengthens relationship.
- Competitive financing options enhance customer experience.
- Customized solutions support Ashley HomeStore licensees' business growth.
- Exploration of contactless commerce aligns with consumer demand.
- None.
ARCADIA, Wis. and STAMFORD, Conn., March 3, 2021 /PRNewswire/ -- Synchrony (NYSE: SYF), a premier consumer financial services company, and Ashley HomeStore, Ltd., the number one selling U.S. home furnishings company, announced a multi-year extension of their consumer financing program agreement, which began in 2010.
Synchrony offers Ashley HomeStore customers competitive financing, subject to credit approval, for purchases made online or the nearly 500 Ashley HomeStores across the U.S.
Synchrony's strong relationship with Ashley enables the company to manage the financing program at a national level while providing customized financing solutions for independent Ashley HomeStore licensees. The solutions, including support in sales, marketing, data analytics, point of sale technology, and training, are designed to empower Ashley HomeStore licensees to grow their business and expand customer loyalty.
Synchrony's financing solutions enable Ashley HomeStores to meet their customers at the moments that matter most in their purchasing journey. Integrating Synchrony's offers throughout the consumer spending life cycle supports Ashley HomeStore's omni-channel customer journey and experience.
Synchrony and Ashley HomeStore continually evaluate program enhancements. One solution they are considering is contactless commerce. The pandemic has accelerated consumer demand for a touchless point of sale experience. Synchrony's digital payment technology solutions enables Ashley HomeStore customers to shop and apply for credit when, where, and how they want without touching cash, cards, or keypads.
"We are thrilled to continue our long-standing relationship with Synchrony," said Ben Thorud, VP, Ashley HomeStore, Ltd. "Synchrony delivers instant, personalized buying power at every point in the Ashley HomeStore shopping journey, from in-store to online via a seamless, intuitive, transparent and safe experience. That is critical to helping our licensees build and expand their business, especially during the pandemic."
"Synchrony is proud to continue its nearly decade-long relationship with Ashley HomeStore," said Curtis Howse, CEO, Payment Solutions, Synchrony. "Simplifying consumer financing is a win-win for Ashley HomeStore licensees and their customers. Our innovative solutions enable the licensees to achieve more traffic, higher sales, and more repeat business. The flexibility to apply and buy safely and securely gives their customers peace of mind throughout their shopping journey."
About Ashley HomeStore
Ashley HomeStore is committed to being your trusted partner and style leader for the home. This commitment has made Ashley HomeStore the largest retail furniture store brand in North America and one of the world's best-selling furniture store brands with more than 1,050 locations in 60 countries.
Start designing your dream home today. Visit Ashley HomeStore online at www.ashleyhomestore.com. "Like" Ashley HomeStore on Facebook, follow us on Twitter and Instagram, or see our design-focused boards on Pinterest.
About Synchrony
Synchrony (NYSE: SYF) is a premier consumer financial services company. We deliver a wide range of specialized financing programs, as well as innovative consumer banking products, across key industries including digital, retail, home, auto, travel, health and pet. Synchrony enables our partners to grow sales and loyalty with consumers. We are one of the largest issuers of private label credit cards in the United States; we also offer co-branded products, installment loans and consumer financing products for small- and medium-sized businesses, as well as healthcare providers. Synchrony is changing what's possible through our digital capabilities, deep industry expertise, actionable data insights, frictionless customer experience and customized financing solutions.
For more information, visit www.synchrony.com and Twitter: @Synchrony
Media Contacts:
Cole Bawek
Ashley HomeStore
Cbawek@ashleyfurniture.com
Farrah Aper
Synchrony
farrah.aper@syf.com
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SOURCE Synchrony
FAQ
What is the significance of the Synchrony and Ashley HomeStore agreement extension dated March 3, 2021?
How does Synchrony plan to support Ashley HomeStore after the March 2021 renewal?
How long has Synchrony been partnered with Ashley HomeStore?
What are the benefits of the financing options provided by Synchrony to Ashley HomeStore customers?
What changes are being considered in the financing program due to consumer demand?
