Klarna uses AI to translate the image into a search term, so consumers can turn whatever catches their eye into a shoppable item.
Klarna, the AI-powered global payments network and shopping assistant has unveiled a treasure-trove of 13 new products as part of its Spotlight Fall launch. Shopping lens, the flagship new feature, allows shoppers to take a picture of things and styles in their surroundings, instantly find out where to buy them and get the best deal in the Klarna app, using the search and compare tool.
Klarna uses AI to translate the image into a search term, so consumers can turn whatever catches their eye into a shoppable item.
This builds on the company’s previous applications of AI to provide a discovery shopping feed in the Klarna app which recommends products based on personal interests – the feed is now enriched with the global roll-out of shoppable videos. In May this year, Klarna released research which found that 8 out of 10 shoppers look forward to having an AI shopping assistant.
Klarna is also taking new tech to the high street with a feature that gives smart spenders instant access to detailed product information when in-store by scanning the item’s barcode for customer reviews, to see whether there could be different colors or variants available online, or if they can find it for a cheaper price. Now all modes of inspiration – whether from the physical world or online – are plugged into Klarna’s world-leading search and compare tool so consumers can get product information and price comparisons fast.
“Klarna is the smarter choice, whether you’re looking for shopping inspiration, personalized recommendations, or finding the best price,” said Sebastian Siemiatkowski, CEO and Co-founder of Klarna, “Just like the internet gave everyone access to information, AI gives everyone access to intelligence, context and personalization. At Klarna we’re using this to bridge the gap between the physical and digital world, connecting how humans get inspired with how computers search. I’m super proud that Klarna is leading this revolution in retail.”
Shoppable videos arrive in Europe, following success in the US
Blending the best of social, video, and ecommerce, shoppable video brings a stream of thumb-stopping content into the Klarna app. Shoppers can explore everything from unboxings and tutorials, to reviews and product drops from videos made by trusted brands and Klarna’s global creator community. Any item they like can be shopped directly from the video. Shoppable videos have also evolved to allow creators to share content straight into the Klarna app, enabling them to reach Klarna’s 27 million monthly app users.
Thanks to the app’s AI-powered recommendation engine, consumers can enjoy a truly personalized video experience, with content that aligns with their unique interests. As a result, in the US average viewer time has quickly increased by 60% and click-through rates by 25%, fueling further growth and customer acquisition for retailers. Alongside the US, shoppable videos are now available in the UK, Germany and Sweden.
In-store scanning provides instant access to detailed product information
With in-store shopping continuing to dominate, consumers want the searchability of the online shopping experience in brick and mortar stores.
In response, Klarna has globally rolled out the ability for consumers to scan the barcodes of more than 10 million products across stores for instant access to detailed product information, such as customer reviews, whether there are other variants or colors available online, and price comparisons. Using the app’s built in camera scanning feature, this empowers consumers to make smart decisions while on the high street – and also pay by scanning a QR code at integrated retailers. In-store scanning is available in the UK, US, Sweden, Germany, Denmark and Norway.
Klarna is also announcing an additional 10 highly-anticipated product updates in response to consumer feedback, including:
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A new cashback program
In the Klarna app, UK shoppers can now earn up to 10% of their purchase amount back with Klarna’s new cashback program when they choose Pay Now, Pay in 3 or Pay Later at the checkout of retailers with active offers – including popular brands such as FARFETCH, River Island, The North Face and Hotels.com. This can then be applied for a discount on their next purchase when checking out with Klarna, either online or in the app.
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Sign in with Klarna
Klarna has started rolling out a single sign-in solution, which allows consumers to use their Klarna logins for an even smoother sign-in and checkout experience at participating retailers, eliminating the need to create and remember multiple usernames and passwords, providing Klarna’s large consumer network with the convenience of logging in or checking out with just one click. Available globally, retailers can integrate the service to give Klarna consumers a seamless shopping experience.
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Purchase protection
Klarna will offer an enhanced level of protection to US consumers through Cover Genius’ global distribution platform, XCover. With this feature, consumers can protect their purchases from breakdown, accidental damage and more. Managing policies and filing claims is made easy and convenient through the Klarna app.
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Conscious shopping dashboard
Despite a growing interest in environmentally and ethically sustainable practices nearly 8 out of 10 consumers admit to struggling with identifying environmentally-friendly companies that align with their interests and values. To solve this information gap, Klarna has introduced a conscious shopping dashboard which serves as a centralized resource offering consumers access to a comprehensive array of sustainability-oriented products, features, and services provided by Klarna. The dashboard is available today in the US and will launch across additional markets in the coming months.
