As consumers turn to content creators to influence their online shopping habits, Klarna, the buy now, pay later platform, today launched a new Klarna Creator app for retailers and influencers to collaborate on brand campaigns and to track earnings, performance and sales.
Klarna’s creator platform allows over 500,000 vetted creators to have access to leading brands and retailers. Retailers can use the app to direct-message a creator they want to partner with and send them products for content. The app also has a tracking feature to watch sales and commissions. The new creator tool is available for desktops, iOS devices and Android devices.
Separately, the company also announced new features and updates to its Klarna platform, which rolled out to the U.S. today. These include shoppable video content, a new search and discovery tool, as well as a donations feature and an upgraded CO2e tracker.
Over 150 million global consumers use Klarna’s platform for its flexible payment options. Consumers can shop from 450,000 retailers on the app while having the choice to pay immediately, pay later or pay over time.
With today’s announcement, the Sweden-based company hopes to move beyond being just a payment platform but a place for consumers to search and discover, for influencers to create content and for retailers to promote their products.
“Seventeen years ago, Klarna started as a place where you could pay…With this latest product release, we strengthen our position as a true shopping utility for consumers and a growth partner for retailers and lay the groundwork for a new era of shopping where the entirety of the world’s commerce will be condensed into one single point,” Klarna co-founder and CEO Sebastian Siemiatkowski told TechCrunch.
The most notable feature added to Klarna’s platform is the “Watch and shop” widget. According to Klarna’s 2022 Holiday report, 65% of Gen Z favor video content when shopping online. So, as Gen Z shoppers turn to video-based platforms like TikTok and Instagram, consumers can also go to Klarna for video content that’s specifically tailored for shopping and discovering products by well-known brands.
At launch, 70 cosmetics brands use the feature, such as Haus Labs By Lady Gaga, e.l.f. Cosmetics, Keys Soulcare and more, with videos on the app ranging from unboxings, tutorials and reviews. Consumers can also save videos of brands they like or add them to their wishlists.
Since soft launching “Watch and shop” three months ago, the brands “see an average click-through rate 3x higher than click-through rates of social media platforms,” Siemiatkowski claimed.
The new search and compare tool allows consumers to look up which products are on sale, the lowest price, rankings, ratings, shipping options and what’s in stock. Consumers can also use automated coupons at check out to save even more money.
Klarna is also expanding its sustainability efforts with an upgraded CO2 tracker and a new donations feature. The tracker displays emissions from over 50 million products, bringing more awareness to carbon footprints. Consumers can use the donations feature to donate products to high-impact organizations.