Buy Now, Pay Later Options Drive Increase in E-commerce Sales of Travel Services and Event Tickets as Some States Begin to Lift Stay-At-Home Orders
Data Also Reveal Household Appliances Up 45% and Women’s Accessories Up 12% in Terms of Average Daily Sales Volumes
Klarna, a leading global payments and shopping provider, today released new data from its app in the US, indicating that travel services and event ticket sales are beginning to recover. While still significantly lower compared to an average pre-COVID week, the Airlines category saw a 26% week-over-week rise in average daily transactions, while one event ticket seller saw Klarna-enabled transactions increase by a whopping 330% week over week in the week ended May 9. Average daily sales volumes for household appliances, excluding sales made at big-box retailers, also increased significantly week over week, rising by 45%, while women’s accessories sales made through the Klarna app rose 12%.
“Our weekly data point to consumers’ desire to get back to the activities that enrich their lives, such as traveling and attending live events, as soon as possible,” said David Sykes, Head of US at Klarna. “At the same time, consumers still seem to be focusing on their home life, as data from the Klarna app revealed that sales of vacuums, stand mixers and other home appliances rose by 45% week over week. That may indicate that people are purchasing flights and event tickets for the future, but for the time being, are continuing to look for items that make cooking and housekeeping easier and more enjoyable.”
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Aside from analyzing average daily volumes to identify increases and decreases in category transactions week to week, Klarna has been analyzing share of wallet-or how its app users are dividing their spending among different shopping categories-to identify what product categories Gen Z, millennial and Gen X audiences are shopping for most often using Klarna’s flexible payment options, and how their e-commerce spending is shifting throughout the pandemic.
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Klarna’s most recent demographic data show that from May 3 through May 9, Gen Z and millennial Klarna app users increased their share of spending on apparel, footwear and accessories for the fourth week in a row, while Gen Xers increased their share of spending on the category by nearly 10%. Klarna app-enabled sales at stores that sell women’s accessories grew by 12% week over week in the week ended May 9, suggesting that women are looking to freshen their wardrobes with seasonal accessories as more states and municipalities lift stay-at-home orders.
Klarna, which serves 7 million consumers in the US and 85 million consumers globally, will continue to analyze transaction data weekly to identify how the coronavirus outbreak is affecting e-commerce and consumer shopping behavior.
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