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“Shoppers of all ages are embracing these new payment methods, with the fastest growing age category seen in the past year by Klarna being those of Gen X (40-54 years old).”
A recent Klarna survey cited that two thirds of shoppers (67 per cent) use Klarna because it helps them to manage their money and spread the cost of more expensive purchases. Almost half (49 per cent) cited that being able to ‘try before you buy’ gave them added convenience, which has become increasingly important as the world of retail adapts to the changing retail landscape following the COVID-19 outbreak.
Shoppers of all ages are embracing these new payment methods, with the fastest growing age category seen in the past year by Klarna being those of Gen X (40-54 years old). Demonstrating its growth in popularity, Klarna now has over 8.6 million customers in the UK who can shop at over 6,500 retail partners.
Luke Griffiths, UK General Manager for Klarna, says: “Now, more than ever, people need convenience and flexibility in how they shop, whether that’s spreading the cost of an
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item or giving them the option to try before they buy.
Nevertheless, we recognise that it’s sometimes easy to get over-excited and carried away with impulse purchases and that Klarna also has an important role to play in helping our customers to purchase the right things, at the right time. That’s what KlarnaSense is all about.”
Kate Nightingale, Retail Psychologist, says: “When shopping, it’s easy to make automatic decisions. You see something you feel you need, perhaps more like desire, and the specially designed website or store does the rest. Before you know it, you are clicking ‘pay now’.”
It is widely expected that there be a sharp uptick in families facing stark financial challenges as the economy falters as a result of the pandemic. Debt counselling services are calling for lenders to adopt less aggressive collection techniques and to introduce more stringent lending criteria.
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