Klarna: how can we enrich customer experience?
Fintech payments giant, Klarna says being more in touch with shoppers’ feelings will aid retailers recovery from the aftermath of the coronavirus pandemic.
Fintech payments giant, Klarna says being more in touch with shoppers’ feelings will aid retailers recovery from the aftermath of the coronavirus pandemic.
In a recent press release Swedish online payments firm, Klarna released new research with leading SaaS eCommerce platform provider BigCommerce, in partnership with Andrew Busby, an expert in retail. This research highlights the fragility of the online shopper journey and a hierarchy of needs that should be met to enrich a customer’s experience.
2000 UK shoppers were surveyed between 20th - 25th March 2020 to form part of the report, Navigating Needs: the path to profit in eCommerce. According to the study, on average, UK shoppers abandon a purchase 1.27 times a week - where do the pinch points lie? We examine some of the results below.
“Innovation is key, retailers are right to consider new ways of reaching customers and bringing the same enriching experiences to them in this strange new world,” commented Andrew Busby. “But, in a matter of months, functionality and safety have shot to unprecedented levels of importance. Physical stores may never look the same again – online retailers are under peak pressure to make the shopping experience as safe and seamless as possible.”
Klarna’s impact
Founded in 2005, the company’s goal was to “make shopping smoooth” and they insist on the 3 o’s. Klarna offers a variety of payment options like splitting a payment into instalments or buy now pay later, working with over 200,000 merchants including the likes of Samsung, IKEA and Nike, to name just a few.
The key to its success is charging no interest and giving consumers power in flexibility, a point reinforced by the statistics, with 22% of people surveyed saying they are encouraged by flexible payment options. Retailers offering Klarna’s services reported a 30% increase in orders and a huge 68% increase in order volume. Ecommerce will be an industry to watch post-coronavirus, as the new normal sets in, is it time to revolutionise the way we shop online?