Klarna Retail Impact Over Black Friday

Mobile Payment

Klarna is industry leading Pay Later option. Adding Pay later to your checkout flow is a simple way to increase your conversions and Average Order Value.

It’s a payment option now being used buy so many millennials.

Introducing more ways to pay simply means more sales for you, and happier customers! We have worked with clients to onboard them with various payment gateways, including Klarna which can be found in our recent case study.

Klarna is perfect for fashion, beauty, accessory and also footwear retailers. Ideal for purchase totals between £100 – £800. Think you fall into that category?

Klarna is a go to for fashion retailers

Retailers typically see outstanding results with this partner introduction. Enticing customer to spend larger amounts due to being able to split the balance.

Did You Know?

  • On average businesses see a 68% increase in average order value from shoppers paying with instalments, over those paying full purchase balance.
  • 44% of users say they would have abandoned their purchase altogether if a ‘Pay Later’ option wasn’t available.
  • 70% of customers place multiple repeat transactions over twelve months. 

This year (2019) a new merchant has joined Klarna every 8 minutes, that’s over 60,000 new merchants to join the worldwide network.

What about the checkout process? The intuitive payment method Klarna use is designed for speed and simplicity at the most vital point of purchase. Using a smooth single step checkout with CRO in mind.

Customers can go from browsing to purchasing in 25 seconds, that’s up to 3x faster than most competitors.

This Black Friday saw 3,000 Klarna orders placed every minute over the years busiest online shopping period, that’s a staggering 50 transactions per second!

Do you have Klarna installed on your e-commerce store?

If you think you fit the bill, get in touch with our team today and let’s expand your customer purchasing options.

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