Synchrony and Mattress Firm Renew Consumer Financing Strategic Partnership
Synchrony (NYSE: SYF) has renewed its strategic partnership with Mattress Firm, the largest specialty mattress retailer in the U.S., under a multi-year agreement. This renewal allows Mattress Firm to continue providing Synchrony's financing solutions across 2,400 stores nationwide. The partnership leverages digital tools to enhance the customer journey, supporting over 3.5 million customers last fiscal year. Both companies aim to improve shopping experiences and expand purchasing power through enhanced financing options, addressing the evolving retail landscape shaped by the pandemic.
- Renewed long-term partnership with Mattress Firm enhances customer financing.
- Supports over 3.5 million customers, the highest in company history.
- Utilizes digital tools to improve the purchasing journey and customer experience.
- None.
HOUSTON and STAMFORD, Conn., Jan. 21, 2021 /PRNewswire/ -- Synchrony (NYSE: SYF), a premier consumer financial services company, and Mattress Firm, the nation's largest specialty mattress retailer, today announced the renewal of their strategic partnership. Under the multi-year agreement, Mattress Firm will continue offering Synchrony's financing program and solutions. Leveraging digital tools and analytics, Synchrony is helping to optimize the transactional phase of Mattress Firm's omni-channel customer journey to deliver a seamless user experience for shoppers.
Launched in April 2016, Synchrony's consumer financing options are available for online and in-store purchases at 2,400 Mattress Firm stores in the United States. Qualifying cardholders enjoy special financing, online and mobile account management, savings and discount offers, and access to previews and events.
Synchrony and Mattress Firm continue to partner to enhance the consumer shopping experience using data analytics, customer feedback and design efforts.
Mattress Firm's accelerated digital transformation, which has been critical throughout the pandemic, has helped the Company serve 3.5 million customers, the most in company history, in its last fiscal year which ended in September 2020. In conjunction with partners like Synchrony, customers can shop and apply for credit when, where and how they want. With expanded payment and financing options, Mattress Firm can now offer customers more purchasing power and enhanced experiences to meet the increased demand for direct-to-consumer products, such as bedding, children's furniture and pajamas.
"Evolution is crucial for our industry, especially with the changing retail landscape due to the pandemic," said John Eck, President and CEO of Mattress Firm. "The combination of our customer-centric mindset and Synchrony's financial expertise and differentiated customer experience, ensures our customers can shop safely and confidently at every stage of the purchasing process. Together, we've created a more seamless customer journey and enriched cardholder experience."
"Synchrony's flexible financing solutions and innovative business tools support Mattress Firm's commitment to meet its customers at the moments that matter most in their purchasing journey," said Brian Doubles, President, Synchrony. "Our suite of digital capabilities for simplifying financing at the point of sale creates more purchase options for customers and empowers Mattress Firm to convert more prospects, expand customer loyalty and engagement and grow its business. We look forward to many more years as a strategic partner of Mattress Firm."
About Mattress Firm
For the past 90 years, Mattress Firm has made it easy to get a great night's sleep by providing our customers an expertly curated collection of quality mattresses from the best brands. Today, with more than 2,500 neighborhood stores, we strive to be America's most trusted authority on sleep by placing our customer at the center of everything we do. Our Sleep Experts™ help more than 3 million people a year find the right solution for their sleep needs. Our selection of mattresses and bedding accessories include leading brands such as Beautyrest®, Nectar®, Sealy®, Serta®, Simmons®, Sleepy's® Stearns & Foster®, Tempur-Pedic®, Tuft & Needle®, tulo®, and Purple®. We also offer customers Sleep.com as a go-to resource for learning how to sleep better and feel better. Committed to serving our communities, the Mattress Firm Foster Kids program, in partnership with the Ticket to Dream Foundation, joined forces with local foster care non-profit partners to help children in foster care get better sleep so they can shape a better future. For more information, visit http://www.mattressfirm.com.
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:
Mattress Firm
G'Nai Blakemore, Director of Public Relations
GNai.Blakemore@MFRM.com
Synchrony
Farrah Aper, VP Senior Business Communications
farrah.aper@syf.com
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SOURCE Synchrony
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