Partnership to leverage data analytics for consumer loyalty programs
STAMFORD, Conn. & KNOXVILLE, Tenn.--(BUSINESS WIRE)--JTV (Jewelry Television), a leading omni-digital retailer of jewelry and gemstones, has selected Synchrony (NYSE: SYF), as its strategic provider of consumer financing, the two companies announced.
JTV will partner with Synchrony on a private label credit card, which offers promotions to incentivize spend. The partnership will also see the re-introduction of the popular StretchPayTM payment program. With StretchPayTM customers can spread the cost of their purchases over a longer period of time at no additional charge. JTV’s 24-hour-a-day, 7-day-a- week live TV programming currently reaches 85 million U.S. households, complemented by one of the largest, mobile-optimized e-commerce websites in the country.
“In selecting a consumer financing provider, we were looking for a trusted partner to accelerate JTV’s rapid growth -- and one with the capabilities to expand our current programs and enhance the customer experience,” said Tim Matthews, CEO, JTV. “As an innovator in the jewelry and gemstone space, we’re passionate about exploring new opportunities to make it easier for our customers and viewers to experience our products and this new partnership will enable this.”
“Our partnership with JTV allows Synchrony to expand its footprint in the luxury retail market with an industry disruptor reaching millions of Americans every day,” said Neeraj Mehta, CEO, Payment Solutions at Synchrony. “We look forward to partnering with JTV to leverage our data analytics capabilities and enhance the company’s consumer financing programs through the development of new and improved digital and loyalty experiences.”
For more than 20 years, Synchrony has provided financing to the luxury jewelry marketplace, which company research finds is a big driver in making the decision to purchase. A recent Synchrony study on the fine jewelry industry found four in 10 Synchrony cardholders said they would have defected to another store if financing wasn’t available.
JTV (Jewelry Television®) is the leading retailer of jewelry and gemstones in the United States. With a proven 24-year history, JTV leverages an omni-digital strategy designed to elevate the customer experience through holistic, digitally-driven touch points, including live TV programming, 24 hours a day, seven days a week to 85 million U.S. households, an industry leading mobile optimized e-commerce platform, and a robust and engaging social media presence. As part of its commitment to customer satisfaction and the development and distribution of educational content, the company employs numerous Graduate Gemologists and Accredited Jewelry Professionals. JTV.com is one of the largest jewelry e-commerce websites in the country according to Internet Retailer’s Top 500 list for 2015. For more information, visit JTV.com and JTV’s social media channels: Facebook, Instagram, YouTube, Twitter, Pinterest and LinkedIn.
Synchrony (NYSE: SYF) is a premier consumer financial services company delivering customized financing programs across key industries including retail, health, auto, travel and home, along with award-winning consumer banking products. With more than $130 billion in sales financed and 74.5 million active accounts, Synchrony brings deep industry expertise, actionable data insights, innovative solutions and differentiated digital experiences to improve the success of every business we serve and the quality of each life we touch. More information can be found at www.synchronyfinancial.com and through Twitter: @Synchrony.