New, intelligent search and compare tool saves consumers time and money by comparing prices across thousands of retailers and offers real choice and an alternative to the tech giants
London, 14 of November 2022 – Klarna, the global leader in the generational shift away from credit cards, is launching a new rich and unbiased search and compare tool in the Klarna App, comparing prices across thousands of retailers to help consumers find what they love for less. In addition, consumers can filter their search by what’s important to them, including colour, size, features, customer ratings, store availability and shipping options, eliminating the frustration of sifting through millions of disorganized results at conventional search engines. The search and compare tool provides consumers with a credible alternative to Google or Amazon as a starting point for their online shopping journeys and unlocks a new revenue stream for Klarna. The tool builds on last year’s acquisition of PriceRunner, Klarna’s largest acquisition to date.
By comparing thousands of retailers, the tool lists product results in price order, helping consumers find the best deals for any product faster. The tool also shows how the price of any item has fluctuated, providing consumers with the information they need to decide whether to purchase now or to wait to get the best deal. In addition, the intelligence of Klarna’s search function is packed into a new panel in Klarna’s in-app browser. Whenever shoppers are browsing a product page, a panel will show consumers everything they need to know to make a confident decision, including whether retailers are offering a better price or the ratings attached to products. At check-out, a pop-up panel will automatically look for and apply available coupons to further discount the price of their chosen products.
Sebastian Siemiatkowski, Cofounder and CEO, Klarna, said: “You could spend the whole day comparing offers at conventional search engines or marketplaces, but you’ll always have doubts - have I really found the best product at the best price? Klarna’s new search and compare tool does the hard work for consumers and compares thousands of websites in real time to ensure they have all the information they need to make informed and confident purchase decisions.
For Klarna, today’s launch is a major milestone in our evolution from a payment network to a single shopping destination that covers everything from inspiring product discovery through to delivery tracking, digital receipts and seamless returns.”
The tool is available today and comes just ahead of both Black Friday and the holiday season - a time when many shoppers will be looking for the best deals. Notably, Klarna’s 2022 Holiday Report found that 85% of UK holiday shoppers say they will compare prices across retailers more often this year compared to last and 84% of those said they would find it useful to have an app that would help them do that.
With the addition of the search and compare tool to the Klarna App, Klarna is now a one stop shop where consumers can search and discover, find the best prices and deals, pay how they prefer and enjoy post-purchase perks like delivery tracking, digital receipts and seamless returns.
For retailers, the search and compare tool becomes a key acquisition channel, boosting their visibility, traffic, and sales with an engaged audience. This provides retailers with a clear alternative to Google and Amazon when it comes to attracting traffic to their websites, and provides Klarna with an important additional revenue stream. This builds on Klarna’s already strong affiliate marketing business which generates 600 million leads a year for Klarna’s retail partners.
Following its launch in the US last month, the search and compare tool is now available to Klarna App users in the UK, Sweden and Denmark.
Notes to editors:
- 600 million leads a year is based on H1 2022 data.