Seeking to improve payment efficiency, Klarna has launched KlarnaSense which focuses on ‘consumers purchasing the right things, at the right time’.
Underlining the importance of the launch, the group highlighted that our brains consume and process approximately 11 million pieces of information per second in order to make a decision – all of this subconsciously. Those decisions are effortless and quick, but far from considered, and can lead to impulse buying.
KlarnaSense is now seeking to maximise retail psychology to promote more mindful shopping, at a time when money management has never been so integral.
Luke Griffiths, UK General Manager for Klarna, emphasised: “Now, more than ever, people need convenience and flexibility in how they shop, whether that’s spreading the cost of an 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.”
A recent Klarna survey cited that two-thirds of shoppers (67%) use Klarna because it helps them manage their money and spread the cost of more expensive purchases. Almost half (49%) 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.
Kate Nightingale, Retail Psychologist, added: “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’.
“But there is a way to find some balance – to switch on your consciousness without overloading it with information – and that’s by applying the rule of three before heading to the checkout.”