International study shows how the pandemic has changed the way consumers shop – both online and in-store.
London, March 15, 2022 - New research by Klarna, a leading global retail bank, payments and shopping service, reveals how shopping habits have permanently changed in the aftermath of the pandemic, with UK consumers becoming increasingly reliant on their mobile devices and shopping apps.
Klarna’s 2021 Mobile Shopping Report, which surveyed more than 13,000 consumers across 13 countries, finds that in the UK, where strict lockdown policies were in place, 7 in 10 (67%) now shop via their mobile devices more often compared to two years ago, more than in any other country in Europe, especially those that implemented less restrictive measures such as Sweden (54%). In the UK, consumers across all generations increased their mobile shopping as a result of the pandemic, from Gen Z (77%) and Millennials (79%) to Gen X (68%) and Baby Boomers (56%).
Data shows that while shoppers are now returning to shop in physical stores, they increasingly seek to combine their online and in-person shopping experience, with 6 in 10 (62%) using their mobile devices to research products while shopping in store. Consumers use online shopping tools to make better informed decisions, with 9 in 10 saying they use their phones to compare prices (90%) and look for the best deals or price promotions (94%) and 8 in 10 (78%) saying they search for shopping inspiration.
The report also finds that shopping apps have become quite popular in the UK, with the majority of consumers (60%) having between 1-5 shopping apps installed on their device. However, consumers are becoming increasingly frustrated with the overload of apps and having to switch between them: 4 in 10 (35%) feel overwhelmed by the number of apps available and a quarter (24%) say they would delete more than half of their existing shopping apps. Most UK consumers (63%) would prefer to have a single app that incorporates all aspects of their shopping journey, with 8 in 10 (79%) saying this would simplify their shopping experience.
“The digitalisation of retail means that we will no longer speak about online shopping and physical stores as separate experiences. This will result in better services for consumers who will be able to access the best of both worlds to make informed purchase decisions. Shopping apps will play an increasingly important role in the way we shop and consumers will choose those apps that can support them in all the stages of their shopping and payment journey, helping them save money and time.” Alex Marsh, Head of Klarna UK commented.
Read the full report here.
About the Klarna App
The Klarna App empowers consumers to shop and pay with Klarna at any online store with the help of virtual one-time cards. The all-in-one shopping experience is packed with clever features that aid consumers along the entire shopping journey, from initial inspiration to post-purchase tools. Consumers can unlock deals, manage their payments, get an overview of their bought, saved and returned items, as well as track their deliveries and the CO2 impact of their shopping, and more, with further useful features planned to launch this year.
Note to editors
Klarna’s Mobile Shopping Report was sent out online in collaboration with research agency Dynata to a representative sample of more than 13 000 participants from 13 countries, conducted in collaboration with research agency Dynata.
This report uses additional consumer research conducted with NEPA across 11 countries (the US, UK, Australia, Germany, Austria, the Netherlands, Belgium, France, Sweden, Norway, and Finland). The research is conducted on a quarterly basis and always includes a minimum of 1000 respondents in each country per quarter. In total, 18,000 consumers participated during Q4 2021 (October-December).
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Since 2005 Klarna has been on a mission to revolutionize the retail banking industry. With over 147 million global active users and 2 million transactions per day, Klarna is meeting the changing demands of consumers by saving them time and money while helping them be informed and in control of their personal finances. Over 400,000 global retail partners, including H&M, Saks, Sephora, Macys, IKEA, Expedia Group, and Nike have integrated Klarna's innovative technology to deliver a seamless shopping experience online and in-store. With over 5,000 employees, Klarna is active in 45 markets and is one of the most highly-valued private fintechs globally, with a valuation of $45.6 billion. For more information, visit Klarna.com.