Over the last year, as e-commerce surged and consumers looked for alternate payment options, Klarna has continued to attract shoppers to its platform. In June 2020, the company surpassed 7 million customers thanks to its partnerships with various clothing, cosmetic and shoe brands. In its Monday announcement, the company highlighted recent brand and retailer partners like Petco, Bed Bath & Beyond, The Honest Company and Yoox Net-a-Porter.
As Klarna builds up its retailer roster, the platform has also enhanced its mobile app over the past couple of years. Besides introducing its Vibe loyalty program last year, Klarna integrated with Google Pay to allow in-store purchases through the platform in 2020. Shoppers have been able to purchase in stores using the Klarna app since 2019.
“The rapid growth of Klarna customers in the U.S. speaks to consumer demand for flexible payment options and a more seamless, convenient shopping experience,” David Sykes, head of North America at Klarna, said in a statement. “In the year ahead, we will continue to expand our U.S. merchant base, offering greater opportunities for customer acquisition and engagement.”
New research from The Strawhecker Group analyzes key trends and consumer attitudes.
Download a free infographic covering several findings from the full report.
Consumers have increasingly adopted Buy Now, Pay Later (BNPL) services for multiple reasons; a desire for financial flexibility, a way to avoid incurring credit card debt, or to purchase items outside of their budgets. However, despite its popularity, consumer debt and missed payments have led to calls for additional research and regulation. Read the press release.
To take a closer look, The Strawhecker Group (TSG) conducted a survey of over 1,500 U.S. consumers in early 2021 with the goal of understanding domestic attitudes and perspectives on the use of BNPL services. The complete findings, a selection of BNPL provider profiles, and market landscape details can be found in the firm’s new report Buy Now, Pay Later: An Analysis of Key Trends and Consumer Attitudes.
Highlights of this extensive 81-page report include:
- Buy Now, Pay Later Background
- Key Players in the Buy Now, Pay Later Space
- Buy Now, Pay Later Consumer Survey
- Concluding Thoughts: The Future of Buy Now, Pay Later