Klarna expands growth tools for retailer

Klarna, the AI-powered global payments network and shopping assistant, is expanding its growth tools for retailers to help them engage with their audiences “in more effective ways” and to enhance the shopping experience for consumers.

In a move to continue its transformation beyond a buy-now-pay-now company, Klarna’s new marketing and ad solutions have been designed to open new revenue channels for large and small retailers, especially during times when they’re looking for extra support to grow their businesses, drive traffic and increase sales.

The Ads Manager, which has been available in the US, is rolling out to Klarna’s retail partners in the UK and Sweden, offering a new way to reach Klarna’s 150 million high-intent shopper audience.

The platform offers brands an easier and more efficient way to advertise, from ad creation and audience targeting to in-platform reporting for campaign optimisation, utilising information shared by consumers so they receive a more personalised shopping experience.

Unlike platforms such as Google and Facebook, where consumer intent is on general search queries, interacting with friends, listening to music, or finding a job, consumer intent on Klarna is focused on shopping, making the Ads Manager a highly effective platform for retailers to reach shoppers at the point of purchase.

Additionally, contrary to marketplaces like Amazon, retailer ads on Klarna drive traffic and engagement directly back to the retailer with no intermediation between brand and consumer. Retailers in the US running ads with Klarna have seen click-through rates up to 25 times those of industry averages, added the global payments network.

Ads Manager will roll out to all of Klarna’s global markets over the next few months.

In addition, Klarna has also made its Creator Shops available in the US, following its success in Europe. The service allows creators to launch their own storefronts and allow their fans to shop their favourite products.