Retail

Klarna Debuts Social Shopping In The UK

Klarna, the global payments and shopping service based in Sweden, has redesigned its app for users in the United Kingdom.

“Despite the shifting retail landscape, consumers are still looking for inspiration, convenience and value — and it’s become obvious that shopping online now goes far beyond just a transaction,” said CEO Sebastian Siemiatkowski in a statement. “The new Klarna app elevates the entire shopping experience from start to finish by bringing together all the best aspects of shopping in one place, giving Klarna users a unique and personalized experience at their fingertips.”

The reimagined app has been crafted to meet the expectations of consumers as they shift from brick-and-mortar shopping to online, which has accelerated since the onset of COVID-19 last spring, he added.

Among the new features include price reduction and online deal notifications, alerts for products customers love, fashion, beauty and lifestyle products to meet specific customer desires and customers only pay for them when they’re comfortable with the price, the company said.

In addition to traditional payment methods such as credit and debit cards, Klarna offers buy now, pay later options.

“Our mantra at Klarna has always been about creating the smoothest experiences for our users,” Siemiatkowski said. “In the past few months, we’ve seen a shift in shopping behavior with millions fully embracing digital purchasing for the first time as physical stores were closed.”

Last month, the FinTech introduced a “Wish List” to up its social game by connecting with lists curated by brands, influencers and shopping experts and share them with family.

“Shopping is undergoing a dramatic change as consumers are increasingly shopping online and from home, but still looking for community and validation,” said David Sandström, chief marketing officer at Klarna, in a statement at the time. “Online social connections are becoming just as important as real-life relationships, so being able to facilitate these types of interactions can be powerful and can bring even more inspiration and value to the shopping experience.”

In June, Klarna unveiled a media campaign aimed at consumers in the U.S. as it promoted its newly released mobile app, which the company said has more than 1 million monthly users across the country.

Founded in 2005, Klarna said it now has a valuation of $5.5 billion with 3,000 employees in 17 countries. It partners with more than  200,000 merchants, including H&M, Ikea, Samsung, Peloton, Abercrombie & Fitch and Nike.

 

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