Synchrony and The Good Feet Store Extend Financing Partnership
Synchrony's CareCredit Ensures The Good Feet Store Has the Support It Needs to Drive Sales and Provide Financing Options to Customers
STAMFORD, Conn., Jan. 10, 2024 /PRNewswire/ -- Synchrony (NYSE: SYF), a premier consumer financial services company, today announced a multi-year partnership renewal with The Good Feet Store, a market-leading manufacturer and retailer of premium, personally fitted arch supports. Under the expanded agreement, Synchrony's CareCredit health and wellness credit card will be offered as an in-store payment option at most of The Good Feet Store's more than 250 brick-and-mortar locations, enabling customers to finance arch support products for improved alignment and less pain.
The Good Feet Store first partnered with Synchrony in 2009 to drive business growth and offer new ways for its customers to finance arch support products. Since that time, the partnership has grown and in 2023 alone, the partnership with The Good Feet Store contributed to a 10% increase in its average transaction total, and a 35% increase in its total number of transactions. Additionally, 30% of The Good Feet Store's sales were from existing CareCredit cardholders.
"CareCredit's 35-plus years of retail finance and wellness experience is a great fit for The Good Feet Store and its customers," said Erin Gadhavi, SVP & GM, Wellness, Synchrony. "The CareCredit network includes a wide range of health and wellness providers and retailers, enabling customers to use our financial solutions for their health and wellness purchases as they seek to achieve and maintain a healthy, active lifestyle. This includes things like dental care, sleep products and the personalized arch support system at The Good Feet Stores."
Consumers looking for a flexible way to pay for their personalized arch support system can apply at The Good Feet Store locations or on any smart device, starting with a check to see if they prequalify for the CareCredit credit card in real time, with no impact to their credit score. A credit decision is given in minutes and if approved, customers can use their account to purchase the products they want or need right away. Existing CareCredit cardholders can also use their cards for purchases at The Good Feet Store locations.
"At The Good Feet Store, we're passionate about helping people move towards the life they love, two feet at a time, free from the limitations of pain or discomfort," stated Doug Zarkin, Chief Brand Officer of Good Feet Holdings, LLC. "We recognize that foot, knee, hip, and back pain affects individuals across all walks of life. It's incredibly rewarding to collaborate with Synchrony, as this partnership allows us to extend more flexible financing options to our customers, helping them access the pain relief they need to enjoy a better quality of life."
"Every day, we aspire to improve the quality of more people's lives with our highly effective solutions," added Joe Herlihy, Chief Operating Officer & Chief Legal Officer. "Consumer financing through Synchrony, a trusted and long-standing partner, is critical for our brand and business, because it enables more customers to access our solutions through flexible financing options. We are pleased to have renewed our partnership with Synchrony to offer CareCredit, because it means that more people will be able to find relief for foot, knee, hip, and back pain at The Good Feet Store."
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 customers in their channel of choice. For more information, visit www.synchrony.com and Twitter: @Synchrony.
About The Good Feet Store
Founded in 1992, The Good Feet Store is the market-leading manufacturer and retailer of premium, personally fitted arch supports, with 250 retail locations in the U.S. and abroad. Engineered for comfort and pain relief in more than 400 styles and sizes, Good Feet Arch Supports are personally fitted to the precise needs and preferences of its customers and are backed by a Manufacturer's Lifetime Limited Warranty. The Good Feet Store operates with an end-to-end approach to maximize performance and ensure consistent quality standards. Good Feet Arch Supports are manufactured in a state-of-the-art facility in Carlsbad, California, and supplied exclusively to its retail locations. Each Good Feet Store location is staffed with well-trained Good Feet Arch Support Specialists who provide customers with a no-obligation, free, personalized fitting. To learn more about The Good Feet Store and Good Feet Arch Supports, and to see Good Feet Store reviews from actual customers, visit www.goodfeet.com.
Michelle Blaya Romero
The Good Feet Store
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Released January 10, 2024