Synchrony and Rooms To Go Renew Consumer Financing Partnership To Create Omnichannel, Personalized Shopping Experience

Rhea-AI Summary

Synchrony (NYSE: SYF) and Rooms To Go have renewed their strategic financing partnership, enhancing the shopping experience for consumers. This multi-year agreement enables Rooms To Go cardholders to access industry-leading digital account management features, special financing options, and private discounts. The partnership has driven repeat sales growth for Rooms To Go, with a focus on simplifying financing applications. Synchrony aims to leverage insights and new payment solutions to enhance customer satisfaction.

Positive

• Renewal of multi-year financing partnership with Rooms To Go boosts repeat sales growth.
• Enhanced digital account management features improve consumer shopping experience.
• Special financing options and private discounts provide added value to cardholders.

Negative

• None.

21-year Partnership Results In Premier Repeat Sales Growth for Rooms To Go

Companies To Expand Digital Account Management Capabilities and Offer Special Promotional Financing

SEFFNER, Fla. and STAMFORD, Conn., Jan. 25, 2023 /PRNewswire/ -- Synchrony (NYSE: SYF), a premier consumer financial services company, and Rooms To Go, the nation's largest independent furniture retailer, today announced the renewal of their strategic financing partnership. The multi-year agreement enables Room To Go cardholders to decorate now and pay over time with industry-leading digital account management features, special financing options and private discount offers.

In this omni-channel age, Synchrony and Rooms To Go have partnered to enhance the consumer shopping experience by streamlining and simplifying the financing application process. Recently, Synchrony launched new digital capabilities for Rooms To Go which will enable Rooms To Go to offer greater buying power and convenient financing to their customers quickly and transparently wherever they may be along their path to purchase.

"Rooms To Go's long-term financing partnership with Synchrony has been crucial to our growth and resulted in an increased repeat sales rate among our customers," said Peter Weitzner, Vice President, Rooms To Go. "We look forward to collaborating with the Synchrony team to continue to offer capabilities that help to engage more customers, simplify the purchase experience and increase the lifetime value for our customers."

"The Synchrony and Rooms To Go teams have worked closely together to create unique payment experiences that have driven customer satisfaction and business results," said Curtis Howse, CEO, Home & Auto, Synchrony. "Financing is a critical part of the customer experience, and we look forward to continuing to create exceptional experiences for Rooms To Go customers by leveraging insights and new payment solutions."

About Rooms To Go 
Headquartered in Seffner, Florida, Rooms To Go is the nation's largest independent furniture retailer with more than 150 showrooms in ten states throughout the Southeast and in Texas. The Rooms To Go commitment to making furniture buying easy and convenient is exemplified by its philosophy of packaging entire rooms for sale and offering fast delivery. Rooms To Go established its first retail showroom in Orlando, Florida in 1991. Today, the company provides employment to more than 8,000 people. In addition to its full-line furniture showrooms, the company has Rooms To Go Kids & Teens, showrooms dedicated to children's furniture including exclusive licensed Disney products and Rooms To Go Patio, which offers beautiful outdoor furniture with Rooms To Go signature "buy the set and save" pricing. Rooms To Go's latest showroom concept features all three brands under one roof. For more information on the wide selection of furniture Room To Go offers, visit www.roomstogo.com.

About Synchrony 
Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry's most complete digitally-enabled product suites. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoor, pet and more. We have an established and diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which we refer to as our "partners." We connect our partners and consumers through our dynamic financial ecosystem and provide them with a diverse set of financing solutions and innovative digital capabilities to address their specific needs and deliver seamless, omnichannel experiences. We offer the right financing products to the right customers in their channel of choice. For more information, visit www.synchrony.com and Twitter: @Synchrony.

Contact 
Lauren Devilbiss 
Synchrony 
lauren.devilbiss@syf.com 
240-814-5825

 

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SOURCE Synchrony

FAQ

What is the partnership between Synchrony and Rooms To Go about?

The partnership enhances consumer shopping by offering digital account management, special financing options, and private discounts.

How does the renewed partnership affect Synchrony (SYF) stock?

The partnership could positively impact Synchrony’s revenue through increased usage of financing options by Rooms To Go customers.

When was the renewal of the Synchrony and Rooms To Go partnership announced?

The partnership renewal was announced on January 25, 2023.

What benefits do Rooms To Go customers receive from the partnership with Synchrony?

Customers gain access to greater buying power, convenient financing options, and exclusive discounts.