Klarna expands into home improvement space

Klarna has announced new partnerships with several home improvement retailers including Wickes.

The Buy Now, Pay Later (BNPL) provider has also partnered with Wilko and home devices brand SharkNinja, having observed a “boom” in household item sales via its app.

Klarna found that sales of air conditioning units rose by 1657 per cent in the UK in 2022, while freezer sales increased 937 per cent and showers by 129 per cent.

This rise in sales highlights the growing appetite among UK consumers for greater flexibility over their payment options, particularly when buying more expensive household items, Klarna said.

Alex Naughton, head of Klarna UK, Ireland and the Netherlands commented: “Using interest free alternatives to make big one-off payments, for items like a shower, lawn mower or freezer, enables consumers to pay over time but avoid rip-off fees.”

Naughton added: “This boom in household and gardening items bought using Klarna shows that consumers want a smoother payment experience, whether they are paying in full or over time.”

Klarna’s expansion into the home improvement sector follows the publication of data from ResearchAndMarkets.com, which projects BNPL payments to ‘exceed $58 billion by 2028’.

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