New York, NY (July 28, 2020) – Klarna, the leading global payments and shopping platform, today released new survey data showing that some 79% of consumers would prefer to be healthy over wealthy this holiday season. Klarna commissioned marketing firm We’re Magnetic to conduct the online survey of 1000 consumers between June 24-26, ages 18+ in order to help retailers best prepare for the fourth quarter holiday selling season.
The survey also revealed that the majority of consumers plan to turn to friends and family rather than influencers for holiday shopping advice and that Gen Z is the age group most likely to buy presents for themselves as a treat this holiday season.
“While consumer priorities are shifting around how and what they shop for, brands are anxiously looking to the holiday season to make up for lost time,” said David Sykes, Head of US at Klarna. “We’re excited to share this new data and offer retailers the insights, guidance and support they’re looking for in order to best prepare for a successful fourth quarter—especially as they navigate these uncertain times.”
The survey finding that the vast majority of consumers would prefer to be healthy over wealthy is supported by data from the Klarna app, which has shown an increase in purchases of self-care products. The company’s analysis also revealed that, out of more than 2 million items that shoppers added to their Klarna wish lists in the past year, sleeping masks, facial protective primers, concealers, peeling solutions and hair products were all among the top products added. The implication for retailers and brands is that health and wellness will be top of mind for consumers this holiday and that messaging and promotions related to self-care products are likely to resonate with shoppers across age groups.Another key survey finding is that the vast majority of consumers would rather get holiday shopping advice from family and friends (79%) than from social media influencers (21%). This indicates that brands’ referral programs, shareable offers and wish lists, and social shopping capabilities will be key to a successful holiday season.
The data also revealed that Gen Z shoppers are the demographic most likely to enjoy buying presents for themselves during the holidays, with 38% of respondents in the age group indicating that they’d like to treat themselves this holiday. These shoppers are most likely to spend on electronics (64%), gaming (55%) and entertainment (49%) when buying presents for themselves, so retailers seeking to target the group are wise to focus on key product offerings in these categories and a message that it’s “ok to treat yourself.”
Full results of the survey can be found here.
We make shopping smooth. With Klarna, consumers can buy now and pay later, so they can get what they need today. Klarna’s offering to consumers and retailers includes payments, social shopping and personal finances. Over 200,000 merchants, including H&M, IKEA, Expedia Group, Samsung, ASOS, Peloton, Abercrombie & Fitch, Nike and AliExpress, have enabled Klarna’s innovative shopping experience online and in-store. Klarna is ranked number five on the 2020 CNBC Disruptor 50 list, is one of the most highly valued fintech in Europe with a valuation of $5.5 billion, and is one of the largest private fintechs globally. Klarna was founded in 2005, has over 3,000 employees and is active in 17 countries. For more information, visit klarna.com.
Berns Communications Group