Since partnering in 2015, Klarna and Tryzens have worked together to build key platform integrations that make buy now pay later more accessible to merchants everywhere. This partnership has become even more crucial as more and more consumers turn to online channels where physical stores have been closed or inaccessible.
Covid-19 has forced behavioural and social change in a way and on a scale that is hard to fully comprehend. The fact it has gripped the world over a few months and placed billions of people in lockdown is staggering. Lockdowns will end, mitigation measures will be found, but society has arguably adapted and changed off the back of this pandemic – there is no going back, and we will clearly continue to evolve ‘a new normal’.
With social distancing and lock-down, retail was one of severely impacted as “non-essential” stores were required to close. However, such is the power of consumerism, and the fact that our markets already embraced digital channels and commerce, that eCommerce became a saving grace for many businesses, enabling continued trading. eCommerce has now matured and become centre stage and now forms a key plank of retail business continuity as well as an engine for sales, marketing and consumer engagement planning in 2020. To illustrate this, revenue increases of up to 280% were seen across the Tryzens client base as lockdown kept consumers at home and they spent more time browsing and shopping.
There are also other trends, where Direct-to-Consumer sites have experienced record trading as people go straight to the producer for the products they want.
Yes, shopping may be a bit more fragmented, where you may have visited one store for multiple product types. But hey, the ability to shop with the Brand directly has become a real benefit when you want the branded product and queuing at (or closure of) a physical store makes buying it more difficult. This trend arguably also provides a more engaged and informed digital presence for businesses, an ability to portray their products the way they want them to be seen, which will no doubt go on to influence and shape strategies for years to come through digital stores, marketplaces and apps alongside wholesale and traditional retail (post Covid).
Of course, just being online in and of itself does not make you successful, you need to know your product, you need to know your customer, you need to have the tools to capture online traffic and convert into effective repeat customer sales, you need to be able to adapt with your customers and you need to know how to spot the signs for market expansion into new demographics and geographies. But if you invest your time in understanding and learning and adapting, the barriers to entry for spinning up another locale/site are lowering all the time and the upside opportunity is significant if you can harvest the traffic.
To that end, we are excited to be an instrumental partner in Tryzens’ Spark Quick Start Commerce solution. This solution removes the traditional barriers of entry to eCommerce such as time, cost, in-house skill to deliver direct to consumer digital storefronts in just 2 weeks.
Spark quick start commerce comes pre-packaged with a variety of built-ins, including of course, payments from Klarna! To learn more or book in a demo, click here.