The demand for flexible payment options is driving rapid growth of Klarna’s Pay Later service amongst UK retailers, with the payments firm now reporting 4.4 million users of its service.
According to Klarna’s annual financial statement, the option of flexible consumer finance is seeing uptake from 25,000 new UK shoppers on a week by week basis, with the Pay in 3 instalments concept seeing a 55 per cent increase in average order value (AOV) and a 44 per cent increase in conversion.
On average, a Klarna Pay later user in the UK does 8.6 transactions per year.
The results from Klarna show a 36 per cent rise in sales volume for the firm in 2018 and 31 per cent lift in revenue.
In addition, 130,000 merchants have deployed the Pay now, Pay later and consumer finance option worldwide, including IKEA and H&M.
Luke Griffiths, UK general manager for Klarna, said: “The UK has significantly contributed to Klarna’s global growth with new merchants and heightened consumer usage, which have increased our UK footprint.”
Latest News
-
Currys to expand AI-powered employee ideas platform
-
Superdrug promotes Simon Comins to COO
-
M&S relaunches rewards scheme following cyber-attack
-
Zalando boosts delivery service in the Baltics
-
Research finds remote access attacks and card testing among top e-commerce fraud risks
-
Auchan to sell 19 stores to Lidl
Supermicro and NVIDIA’s AI Solution for Retailers
To find out more: click here
Poundland significantly reduces antisocial behaviour, aggression and shoplifting with Motorola Solutions VT100 body cameras
Retail should not be a high-risk occupation. As a company, we are focused on listening to our colleagues and customers to help them with the issues they are facing in-store and so far, the feedback on our body cameras has been excellent. They act as a great visual deterrent, help to de-escalate situations and overall, this project has significantly aided our goal to make the retail environment safer.
For further information on Motorola Solutions’ retail security products, including body cameras, click here.
For further information on Motorola Solutions’ retail security products, including body cameras, click here.
© 2024 Perspective Publishing Privacy & Cookies
Recent Stories