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Classified in: Science and technology, Business
Subject: SVY

84% of US luxury shoppers would find it helpful to pay for high-end items over time without interest or extra cost


NEW YORK, Jan. 19, 2022 /PRNewswire/ -- Eighty-four percent of luxury shoppers say they would find it helpful to pay for high-end items over time, without interest or extra cost. This is according to the latest report from Klarna, a leading global retail bank, payments and shopping service, which today released its The State of Smooth: Unpacking Luxury in 2022 Report exploring US consumers' shopping and payments preferences within the luxury category. 

Based on findings of a recent survey of over 1,000 US shoppers, as well as Klarna's proprietary shopping and app data, the report also found that 78% of shoppers consider a luxury brands' commitment to innovation as an important factor driving purchasing decisions. Three out of five high-end shoppers (61%) want to use mobile apps, while over half (57%) are also looking for flexible payment options at checkout.

"A new generation of younger, digitally-savvy luxury shoppers is emerging, with new preferences towards how they shop and pay," said David Sykes, Head of North America, Klarna. "While the allure of brand names (52%) and exclusivity (39%) still drive luxury purchases, today's high-end shoppers are looking for greater flexibility and innovation throughout their shopping experiences. 

For retailers, this means investing in technologies to create an elevated, higher-touch omnichannel shopping experience, both online and in-store ? from interest-free alternative  payment solutions at checkout, to the integration of virtual shopping and buy online, pick up in store services."

REPORT HIGHLIGHTS

To access the full findings, visit Klarna's The State of Smooth: Unpacking Luxury in 2022 site.

Methodology

Klarna's Luxury Survey was sent out online in collaboration with research agency Dynata to a representative sample of more than 4,000 consumers aged 18-65+ across 5 countries in October 2021, with 1,051 respondents in the US. 

Klarna also analyzed shopping data from 58,000,000 online purchases with Klarna in the US from January-December 2021. Klarna serves more than 13,000 US retailers and 24 million US consumers.

About Klarna

We make shopping smooth. With Klarna consumers can buy now and pay later, so they can get what they love today. Klarna's offering to consumers and retailers include payments, social shopping, and personal finances. Over 250,000 retail partners, including H&M, IKEA, Expedia Group, Samsung, ASOS, Peloton, Abercrombie & Fitch, Nike and AliExpress have enabled Klarna's innovative shopping experience online and in-store. Klarna is one of the most highly valued private fintechs globally with a valuation of $45.6 billion. Klarna was founded in 2005, has over 5,000 employees and is active in 20 countries. For more information, visit klarna.com

For additional information, please contact:
Adaline Colton
[email protected]
(614) 687-935

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/klarna-bank-ab--publ-/r/84--of-us-luxury-shoppers-would-find-it-helpful-to-pay-for-high-end-items-over-time-without-interest,c3488323

The following files are available for download:

https://news.cision.com/klarna-bank-ab--publ-/i/klarna-us-luxury,c3001189

Klarna_US_Luxury

SOURCE Klarna Bank AB (publ)


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News published on 19 january 2022 at 09:18 and distributed by: