Klarna, the global payments provider and shopping service, has partnered with Saks Off 5th to offer customers buy now, pay later solutions at checkout. Online shoppers in the U.S. can now complete a transaction on saksoff5th.com by splitting their purchase into four interest-free payments through Klarna.
“At Saks Off 5th, we continue to see great opportunity ahead with our digital business and are focused on identifying innovative ways to enhance our online experience for our customers,” said Paige Thomas, president and CEO of Saks Off 5th. “Our partnership with Klarna enables us to offer a more inclusive and convenient digital shopping environment, so our customers have easy access to the designer brands they love and trust with greater financial control.”
According to a recent study by Klarna, 79 percent of U.S. shoppers surveyed said that mindful spending and budget-friendly strategies while shopping allow them to feel more confident in their financial future. With online shopping expected to surge this 2020 holiday season, both Klarna and Saks Off 5th have also seen an increased demand for seamless digital retail experiences with exciting online browsing options.
Klarna’s 2020 Holiday Retail Report, which analyzed industry trends and key consumer insights leading up to the holidays, revealed that nearly 6 out of 10 shoppers expect the same level of customer service from retailers both in-store and online. With this in mind, Saks Off 5th intends to launch Klarna payment options in-store in 2021.
“For years, Saks Off 5th has been a go-to destination for shoppers seeking memorable gifts and the best in luxury value,” added David Sykes, head of U.S. at Klarna. “Klarna’s suite of flexible payment options will further enhance the Saks Off 5th shopping experience to match the evolving interests and needs of U.S. shoppers this holiday season and beyond.”
With more than 90 million customers and over 200,000 retail partners worldwide, the Klarna e-commerce platform and shopping app provide consumers with flexibility and control, while creating a smoother way to shop and pay. Saks Off 5th is the latest merchant to join Klarna’s U.S. retail partner network, which has grown rapidly in recent months with the addition of Macy’s, Etsy, Haus Laboratories, Missguided, Backcountry.com, and others.