Covid-19 has driven major shifts in the retail landscape. Online shopping has seen a big increase among all demographics and most product categories as a consequence of lockdowns and social distancing measures. Consumers who previously did most of their shopping in stores have now been introduced to the perks of online shopping and are forming new habits. Klarna has seen a 44 percent growth in transactional volume during the first half-year compared to last year, with 14 million new consumers and 12 million monthly active Klarna app users at the end of the period.
For retailers, the pandemic has accelerated the development of their online offerings, as this has become the key engagement channel and an increasingly important revenue stream. At Klarna, we have seen significant acceleration of global retail brands partnering with us this year, including top-tier retailers like Sephora, Ralph Lauren, The North Face, SHEIN and Vans. And we look forward to many going live very shortly for peak shopping season in the fall.
So far in 2020, we have added 35,000 new retail partners globally, which is approximately 200 new per day. In the US, 4,300 retailers are using our services, with several major ones set to go live in the near future.
The reason why so many retailers are teaming up with Klarna is simply that we help elevate the shopping experiences, thereby gaining new customers and turning them into loyal fans. Our services are built to create a smoooth (yes, with 3 o’s) customer journey from beginning to end. This means offering consumers the best deals and inspiration in our app, shop directory and marketing channels, a seamless checkout process (both in-app and at our retailers’ websites) with pre-filled details, and a post-purchase experience where shoppers can keep track of their orders and manage their payments.
Speaking of payments, Klarna offers a plethora of options to choose from that best suit the customer: pay now, pay later, pay in interest-free installments, and financing. You as a retailer, however, always get paid in full and upfront. Klarna has 15 years of experience handling payments and removing friction from online shopping, so you can trust that we know what we’re talking about.
In addition, we help retailers by driving traffic to their sites via our app and shop directory. We also recently launched our own rewards club Vibe, which is the first of its kind, to make sure that our shoppers come back for more.
As people are shopping more than ever online, Klarna is the obvious choice for retailers who are seeking the opportunity to grow. Interested to know more? Check out what we can do for you here.