J.C. Penney extends financial services partnership
J.C. Penney has no intention of breaking up its nearly two-decade-old relationship with Synchrony.
The department store retailer announced a multi-year extension of their strategic partnership with financial services provider Synchrony, a deal that will enable J.C. Penney to continue offering customers financing options and using data analytics to deliver more personalized customer experiences. Through the agreement, Synchrony will also continue to manage and service payment cards for J.C. Penney customers at the retailer’s over 860 stores in the U.S. and Puerto Rico, as well as online.
Throughout the partners’ nearly 20-year relationship, J.C. Penney has launched a private label credit card program and a J.C. Penney Mastercard Dual Card. Synchrony has also helped the retailer integrate credit payments into the J.C. Penney mobile app using SyPi, a Synchrony plug-in. The companies also leveraged data analytics to uncover new customer insights, further personalizing customer experience.
All J.C. Penney cardholders are also automatically enrolled in J.C. Penney Rewards, which enables them to earn points two times for store purchases. J.C. Penney Mastercard cardholders can also earn points when they use the card anywhere else Mastercard is accepted. (Points are converted into $10 in rewards for future purchases at J.C. Penney.)
“The J.C. Penney credit card is an integral component of our loyalty program, serving as a powerful savings tool for our customers to get access to enticing benefits only available to cardholders,” said James Ward, VP of credit at J.C. Penney. “We are pleased to renew our agreement with Synchrony, helping us deliver flexible financing options and valuable benefits to our best customers.”
Asda gets more ‘intelligent’ about shrink
Asda Group Ltd. is using cloud-based analytics to get a better handle on shrink occurring across its U.K.-based stores.
Armed with the Sensormatic Shrink Management as a Service (SMaaS) solution from Tyco Retail Solutions, the grocery operator now has clear visibility into Electronic Article Surveillance (EAS) and loss prevention systems for all 642 Asda stores in the U.K. The cloud-based system provides a real-time view of its entire shrink management portfolio, increasing the reliability and performance of EAS systems.
Supported by Google Cloud, SMaaS’ device management and predictive analytics manage shrink while addressing underlying root causes. This provides a clear picture of operations across individual stores, districts, regions and even enterprise-wide to isolate data and compare performance metrics. Real-time, exception-based, automatic notifications help users identify serious issues that need immediate attention. Meanwhile, user-friendly dashboards enable retailers to identify problems earlier and make better business decisions.
Using this data, Asda can take preventative measures that can streamline operations and ensure their investments are future-proofed. The data also better positions Asda to launch initiatives that focus on centralized management processes, optimizing store labor and detect possible training gaps.
In addition, SMaaS helps lower shrink with better equipment uptime. By minimizing downtime, loss prevention professionals can spend less time managing systems and devices, and dedicate more time and resources to improving store performance and customer service.
“Building upon our EAS foundation, we now have new insights and centralized management which provides efficiencies with our EAS equipment, allowing us to refocus our efforts and more proactively manage our estate in real-time across 642 stores,” said Andrew Rees, senior manager, Asset Protection, Asda. “The true benefit will be realized when we can act predictively to support our stores with this new level of visibility SMaaS delivers.”
The solution is part Asda’s five-year strategy with Tyco, which includes refreshing its EAS solutions and tagging eco-system, as well as driving meaningful alarm action at the store level.
Gap streamlines payments across Europe
Gap Inc. is moving to unify the payments experience across its European stores and online.
As the line between in-store transactions and e-commerce continues to blur, customers expect a personal, consistent and completely seamless shopping experiences across all channels. To meet their shoppers’ expectations, Gap is rolling out Adyen’s payment technology in more than 150 stores across the U.K., France, Italy and Ireland, a move that provide a consistent experience across different markets. Both Gap and Banana Republic will also use the payments platform online, further extending the unified payment experience.
The platform will help eliminate the complexity of working with different local networks and legacy payment systems. It also helps to create a single view of payments and customer data, which will help Gap deliver a more personalized experience to its customers.
“A fast and frictionless experience is the cornerstone of retail transformation,” said Josh Ramzy, payments product manager at Gap Inc. “Partnering with Adyen in Europe will enable us to enhance our customer experience with convenient, fast and innovative payment methods.”