The business said on Wednesday that Klarna is launching several new products, including Shopping Lens, an AI-powered picture search engine. The business is also introducing a new cashback program, rapid refunds, shoppable films in Europe, in-store product scanning, and other initiatives.
Users can easily find out where to buy things and styles they see by taking a photo of them using the new Shopping lens. With the app’s search and comparison capability, the feature can visually recognize more than 10 million goods, including apparel and electronics, and match them with more than 50 million store offers. From there, you may evaluate reviews and merchants’ prices. Additionally, users will be offered products comparable to the item they snapped a photo of. The United States, the United Kingdom, Germany, Sweden, Denmark, and Norway all sell shopping lenses.
Shoppable videos, which first appeared in the U.S. in October 2022, are now accessible in the UK, Germany, and Sweden. With the introduction of shoppable videos, Klarna aimed to move beyond just being a payments app and into product discovery and influencer marketing. Users receive a customized video experience thanks to the app’s recommendation engine. According to Klarna, the introduction of shoppable video has increased click-through rates by 25% and an average viewing duration of 60% in the United States.
Additionally, Klarna is launching a feature that enables customers to access product details while in a physical store by scanning the product’s barcode to check for customer reviews, to see if there might be additional colors or variants online, or to see if it is available for a lower price elsewhere. In the United Kingdom, United States, Sweden, Germany, Denmark, and Norway, in-store scanning is accessible.
When choosing Pay Now, Pay in 3, or Pay Later at the checkout of businesses with active offers, customers in the U.K. may now receive up to 10% of their purchase price back. When using the Klarna app or website to complete their next transaction, users can use this to receive a discount. Klarna intends to expand the cashback program’s market reach in the future.
Additionally, consumers will no longer need to establish and remember several usernames and passwords thanks to Klarna’s single sign-in solution, which has already begun to roll out at partner merchants. This solution will make it easier to sign in and complete checkout processes. According to the firm, retailers from all over the world may now include the experience.
A gift card store with various gift card alternatives from stores that customers can buy using Klarna is one of the new features in the suite. Additionally, when purchases are made using Klarna’s interest-free Pay in 3 in the U.K. or Klarna’s interest-free Pay in 4 in the U.S., the business introduces express refunds on qualified returns. With this introduction, clients who supply a legitimate tracking number will receive a refund in advance from Klarna.
Last but not least, Klarna is introducing sustainability filters and a conscious shopping dashboard to assist users in making more conscientious purchasing decisions.
