Crate & Barrel Partners with Adyen to Streamline Payments, Unifying In-Store and Online Experience

Rhea-AI Summary

Adyen, a global financial technology platform, has partnered with Crate & Barrel Holdings Inc. to streamline payments across all channels. This collaboration aims to unify the in-store and online experience for both Crate & Barrel and CB2 brands, covering 110 physical stores in the U.S. and Canada. The partnership is part of Crate & Barrel's digital transformation strategy, leveraging Adyen's unified commerce solution to gain shopper insights, streamline operations, and enhance the omnichannel retail experience.

Key highlights include:

• Integration of payment processing for online and physical stores
• Access to unified customer data and insights
• Improved cross-channel shopping experiences
• Support for Crate & Barrel's digital advancement in home furnishing

This partnership addresses the growing trend of cross-channel shopping, as identified in Adyen's Retail Report 2024, and aims to overcome the limitations of siloed information systems.

Positive

• Partnership with a major home furnishings retailer (Crate & Barrel Holdings) expands Adyen's market presence
• Implementation of Adyen's unified commerce solution across 110 physical stores and e-commerce platforms
• Potential for increased transaction volume due to Crate & Barrel's equal split between in-person and e-commerce sales
• Opportunity to showcase Adyen's advanced technology and unified commerce capabilities in the retail sector

Negative

• None.

Leveraging Adyen's financial technology, Crate & Barrel centralizes payments across all channels as part of the company's digital transformation

NEW YORK, Sept. 16, 2024 /PRNewswire/ -- Adyen, the global financial technology platform of choice for many of the world's leading companies, today announced its partnership with Crate & Barrel Holdings Inc., the home furnishings company known for its high-quality products and service, exclusive designs, and timeless style.

Adyen has been selected as the retailer's payment processing partner for its online and 110 physical retail stores across the U.S. and Canada not only for the Crate & Barrel brand but also for the CB2 brand. The goal is to undergo a technology transformation bringing together the in-store and online experience to elevate its omnichannel retail strategy. By using Adyen's unified commerce solution, Crate & Barrel Holdings has access to unlock shopper insights and the customer journey, streamline operations, and support a digital advancement in the home furnishing space.

According to Adyen's Retail Report 2024, 43% of consumers choose one channel to shop with and then complete their purchase via another shopping channel. For example, retailers like Crate & Barrel may see prospective shoppers research a piece of furniture online, then visit a showroom to experience it in-person and pay directly in store. However, 75% of retailers don't enable customers to easily shop across channels, with 22% maintaining online sales channels and physical stores as separate entities.

Crate & Barrel Holdings was looking for a financial technology partner that could help the company implement connected customer experiences across all channels. This is especially important, as the furnishing company sees nearly an equal split between transactions completed in-person and through e-commerce.

"This partnership enhances the shopping experience for Crate & Barrel and CB2 customers by quickly advancing our omnichannel strategy," said Janet Hayes, CEO of Crate and Barrel Holdings. "As a result, our customers can enjoy a seamless shopping and payment experience any way they choose to shop with us."

With Adyen's unified commerce solution, uniquely designed for enterprises, Crate & Barrel Holdings can now consolidate all payment channels and transactions in one system. This unified view of data enables actionable insights into customer behaviors, overcoming the limitations of previously siloed information. By using Adyen's advanced technology and unified commerce capabilities, the Crate & Barrel and CB2 brands can drive innovation and adapt to serving customer habits both online and in-store.

"Crate & Barrel Holdings' dedication to furnishing homes with purpose aligns with our core philosophy at Adyen, where we lead with our customers' needs at the forefront of everything we do," said Davi Strazza, president of Adyen North America. "Our integrated platform provides the flexibility to create cross-channel payment journeys that customers expect, fosters deeper engagement through loyalty programs, and connects data from all channels for more informed, data-driven decisions. We look forward to supporting Crate & Barrel Holding's transformation through our innovative financial technology platform."

To learn more about Adyen's Unified Commerce solution, please visit: https://www.adyen.com/unified-commerce

About Adyen

Adyen (AMS: ADYEN) is the financial technology platform of choice for leading companies. By providing end-to-end payments capabilities, data-driven insights, and financial products in a single global solution, Adyen helps businesses achieve their ambitions faster. With offices around the world, Adyen works with the likes of Meta, Uber, H&M, eBay, and Microsoft. The cooperation with Crate & Barrel Holdings Inc. as described in this merchant update underlines Adyen's continuous growth with current and new merchants over the years.

About Crate & Barrel Holdings, Inc.

Global specialty retailer Crate & Barrel Holdings Inc. curates inspiration for the modern home, connecting the creative work of artisans and designers to people and places around the world. Known for high-quality products, exclusive designs, and timeless style since 1962, Crate & Barrel Holdings Inc. includes lifestyle brands Crate & Barrel, CB2, Crate & Kids, and Hudson Grace. Today, the company is a member of the Otto Group and operates over 100 Crate & Barrel, CB2, and Hudson Grace stores throughout the U.S. and Canada, with franchise locations in nine countries. More than 200 million customers visit the Company's stores and websites each year. To learn more, visit www.crateandbarrel.com/about-us.

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SOURCE Adyen

FAQ

What is the purpose of Adyen's partnership with Crate & Barrel Holdings?

The partnership aims to streamline payments and unify the in-store and online experience for Crate & Barrel and CB2 brands, as part of Crate & Barrel's digital transformation strategy.

How many physical stores will be affected by the Adyen-Crate & Barrel partnership?

The partnership covers 110 physical retail stores across the U.S. and Canada for both Crate & Barrel and CB2 brands.

What benefits does Adyen's unified commerce solution offer to Crate & Barrel Holdings?

Adyen's solution provides a consolidated view of all payment channels and transactions, enabling actionable insights into customer behaviors, streamlined operations, and enhanced omnichannel retail strategies.

How does this partnership address cross-channel shopping trends for ADYEY?

Adyen's unified commerce solution allows Crate & Barrel to create seamless cross-channel payment journeys, addressing the 43% of consumers who shop across multiple channels, as reported in Adyen's Retail Report 2024.