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Merchant success
Mar 22, 20212 min read

Achieving an 80% new customer acquisition rate with Osprey.

Klarna K logo

by Klarna

Founded in the US in 1974 with an ethos for great design, quality materials and a commitment to sustainability, Osprey’s back packs and accessories appeal to adventurers who want to tread lightly, feel mighty and be ready for anything the outdoors has in store. We partnered with Osprey to overcome the challenges they faced in bringing their products to market, working together to build a loyal following all over the world.

The challenge

Building owned online presence.

While the company traditionally sold through retail partner outlets, Osprey was eager to grow its online business and capture a more diverse online audience.

Pivoting from travel related product segments.

COVID-19 has taken its toll on travel products, and with 40% of products being travel related it was key for Osprey to create demand elsewhere.

High quality means high acquisition.

With high quality products that have been designed to literally last forever, for continual growth Osprey must make and maintain 80% of sales from new customers.

 

The solution

With a UK consumer base of 12 million, and over 90 million active consumers globally Klarna was a standout partner for Osprey. Klarna Pay in 3 was also the preferred payment partner for Osprey’s web-designers Pinpoint, who were able to deploy it on the Magento 2 platform with no disruption or down-time. 

Offering Klarna at checkout not only drove a new audience to Osprey’s online store, but made niche, high-ticket products including a £1,000 ski-pack complete with avalanche survival kit more accessible as customers are able to spread the cost. When shoppers can pay flexibly, on their terms they can invest in the backpack that is right for them and spread the cost to fit regular budgets. No longer are they opting for cheaper alternatives, waiting for sales or missing their ‘window of need’.

 

What’s next?

Osprey now looks to roll out Pay in 3 across it’s stores in Europe, planning to launch in 30 new countries by 2021, powering growth in key markets such as Germany where Klarna is an expectation rather than a demand.

Read the full case study below to dig deeper into how we worked with Pinpoint to bring Osprey to new heights.

Read the full case study with Osprey.

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