Klarna has launched a price comparison tool that searches thousands of websites to help consumers find the best deals.
Following its launch in the US last month, the search and compare tool is now available to Klarna app users in the UK, Sweden and Denmark.
The search tool shows new and used items with the option to filter by customer ratings, store availability and shipping options. Consumers can also see the price range to decide whether it’s a good time to buy.
It opens a new revenue stream for the Nordic fintech, which specialises in buy now, pay later services, and builds on the acquisition of comparison service PriceRunner last year.
Sebastian Siemiatkowski, co-founder and chief executive officer of Klarna, said: “Klarna’s new search and compare tool does the hard work for consumers and compares thousands of websites in real time to ensure they have all the information they need to make informed and confident purchase decisions.”
A Klarna report found 85% of UK shoppers and 42% of US bargain hunters will compare prices this holiday season.
‘Empowering our community of artists’
The search tool is just one of a range of new products offered in the US, collectively called Klarna Spotlight, that also offers videos, a creator platform and charitable tools.
New shoppable videos of unboxings, tutorials and reviews are now available for the 65% of Gen-Z’s that prefer video content over static when shopping online.
Retailers already using Klarna’s video platform can expect to see higher click-through rates compared to other social media channels, Klarna said.
The platform also connects creators and retailers to automate activities, from initial reach out, to tracking sales and commissions.
Lady Gaga, founder of Haus Labs, said: “Haus Labs is excited to launch shoppable video content in the Klarna app, empowering our community of artists and creators to express themselves through high-performance makeup and their unique artistry, while engaging with millions of fans around the world.”
Commenting on the US launch, Siemiatkowski said: “The new products revealed today mark a major milestone in Klarna’s evolution to becoming a place where consumers and retailers can now search, discover and create.”
As well as discovering how many consumers plan to compare prices, Klarna’s US holiday report, which sampled both users of its app and non-users, also showed 59% of respondents look for brands that are more charitable and sustainable gift wrapping is sought by 55% of people.
Ethical shoppers will be pleased to see the app tracks the carbon footprint of purchases, gives options to donate to environmentally friendly organisations and shows the impact of the non-profits they donate to.