Many consumers wish for a more streamlined shopping experience because of the abundance of shopping apps available. Swedish company Klarna says their app, launched last year, will change the complete shopping experience of consumers fundamentally. Learn more about the Swedish one-stop shopping app.
Klarna is the leading global banking, payments and shopping service and the company’s Shopping app empowers users to Pay in 3 in any online shop directly through the Klarna app, without ever paying more than the price of the product. Klarna’s in-app shopping experience covers the whole retail journey, from inspiration and discovery right through to purchase and return management.
As the app economy grows, consumers are faced with an increasingly saturated landscape of e-commerce apps, which can be frustrating and time consuming. Klarna solves this by launching the only application they need. Consumers can buy in all online stores through the app, explore exclusive offers and collections of personalized purchases, save items and activate notifications of price drops, track the shipment of their items, manage payments and returns, and much more.
With Klarna’s interest-free purchase functionality, consumers can use the company’s payment methods in all online stores, regardless of whether these brands are directly associated with Klarna or not.
Research by Klarna amongst Dutch consumers shows that up to 74% of them would prefer using just one shopping app in which they can perform various actions. Such an app would bring multiple benefits, of which time saving (57%) and easier shopping experience (54%) are the most important ones for consumers. Additionally, up to 51% of Dutch consumers claim to be overwhelmed by the amount of shopping apps.
The new feature eliminates the need to use credit cards when shopping online, making high interest APRs a thing of the past
Mobile commerce continues to grow at a fast pace. Retailer app downloads have increased 36% in the last two years and in-app purchases, 54%. Although the rise of e-commerce has made shopping more accessible than ever, it has also created friction in the process. Today, users demand integrated experiences that respond to their specific needs while saving time and money.
A recent survey carried out by Klarna revealed that 68% of Spanish consumers now shop more frequently on their mobile than two years ago, before the pandemic. 59% admit having between 1 and 5 shopping apps installed; 25%, between 6%, 10% and 11% have more than 10. However, 70% of Spaniards would choose a single shopping app that allows them to perform multiple actions instead of having to change applications. 75% agree that simplicity in the purchasing process and saving time are the two most important benefits. The new Klarna app responds to this demand, making everything they need available to consumers.
Klarna will add more functionalities to the app in the short term, such as a collective loyalty card environment, extra money-saving tools, social functions such as live shopping events and product data. These data will show price history, reviews and availability in the store. Moreover, the company also wants to enable integrations with third parties, to provide more solutions and services.
Sebastian Siemiatkowski, CEO of Klarna said: “At Klarna, we believe that no-one should ever have to pay credit card fees or high interest rates and now, thanks to our new in-app shopping feature, they don’t have to. Shoppers now can interact with their favorite retailers without having to leave the Klarna app, to create a smooth, safe and frictionless shopping experience. Our one stop shop app is the future of shopping, it creates a truly personalized and bespoke service for every user and liberates consumers from ever paying more than the price of the product.”
Klarna was founded in 2005 in Stockholm, Sweden with the aim of making it easier for people to shop online.
Klarna is the leading global payments and shopping service, providing smarter and more flexible shopping and purchase experiences to 147 million active consumers across more than 400,000 merchants in 45 countries. Klarna offers direct payments, pay after delivery options and instalment plans in a smooth one-click purchase experience that lets consumers pay when and how they prefer to.
When the company acquired SOFORT in 2014 the Klarna Group was formed. Klarna is backed by investors such as Sequoia Capital, Silver Lake, Bestseller Group, Dragoneer, Permira, Visa, Ant Group and Atomico.
The Swedish One-Stop Shopping App, written by Tor Kjolberg
All images © Klarna