Klarna has opened the curtains on a suite of product releases aimed at strengthening its position as a shopping platform for consumers – positioning itself as a growth partner for brands.
Under the umbrella banner ‘Klarna Spotlight’, the Buy Now Pay Later (BNPL) provider’s new tools are geared to help it go beyond the role of payment provider in a customer’s journey to become a starting point for shoppers who both know what they want to buy or who are looking for inspiration.
In moves to take on the dominance of platforms such as Meta and TikTok as shopper destinations, Klarna’s new products include a search tool to help shoppers find the best price for their product and a content stream that allows shoppers to buy directly from video.
The suite includes a new Creator Platform that connects creators and retailers to scale and optimise campaigns, paving the way for new channels and revenue streams to drive growth for the provider’s 450,000 retail partners.
Klarna’s new intelligent search tool compares thousands of websites to find the best product for a particular product, offering options for both new and pre-loved items. Shoppers can filter their search across the listed stores by colour, size, features, customer ratings, availability and shipping options, on both Klarna’s app or its website.
The functionality includes a new panel in Klarna’s in-app browser that automatically looks for and applies discount coupons at checkout for its 23 million monthly active users.
Klarna has also unveiled a Watch and Shop widget into the Klarna App that hosts relevant, immersive content including unboxings, tutorials and reviews from brands and creators. Retailers that are currently using Klarna’s shoppable video include e.l.f Cosmetics, Keys Soulcare and Haus Labs by Lady Gaga.
Shoppers can buy items by clicking directly on the videos, while retailers can share existing social content and campaigns, submit exclusive shoppable content for Klarna and feature in curated content and campaigns.
A direct route to retailers
The BNPL giant has also opened up a new Creator Platform that allows retailers to track creator performance in real time, and lets creators directly access retailers to recommend hundreds of thousands of products to their social media followers, or Klarna App shoppers.
Alongside the product launches, Klarna has also upgraded its Co2e tracker to give shoppers insight into the environmental impact of their purchases.
Sebastian Siemiatkowski, Co-Founder and CEO of Klarna said: “Payments only solve one part of the puzzle. The new products revealed today mark a major milestone in Klarna’s evolution to becoming a place where consumers and retailers can now search, discover, and create. From inspiring product discovery all the way to delivery tracking, digital receipts and seamless returns - we are powering e-commerce and accelerating trade across the world.”