Klarna launches the KlarnaSense initiative to cease impulse purchases
Klarna encourages consumers to ask: “Do I love it? Will I use it? Is it worth it? "Before proceeding to checkout
Klarna, As a global payment provider and purchasing service provider, KlarnaSense has launched a new initiative to encourage consumers to shop smarter by buying the right things at the right time.
Our brain uses and processes about 11 million pieces of information per second to make a decision – all of this unconsciously. These decisions are effortless and quick, but far from being considered and can lead to buying impulses.
KlarnaSense uses retail psychology to encourage more mindful shopping and encourages consumers to get involved in their conscious brains by asking themselves three simple questions before they checkout: “Do I love it? Will I use it? Is it worth it? "
The application of the rule of three was developed with a renowned retail psychologist, Kate Nightingale, to ensure that consumers use the part of their brain that controls whether they make a well-considered decision, rather than an impulsive one.
Klarna's growth in the UK shows that consumers are demanding a better shopping experience that offers both flexibility and convenience. KlarnaSense builds on these changing behaviors and enables consumers to make the right choice at the right time when shopping online or in stores.
A recent Klarna survey found that two-thirds of buyers (67%) use Klarna because it helps them manage their money and spread the cost of more expensive purchases. Almost half (49%) said that being able to test before buying gave them extra convenience, which has become increasingly important as the retail world changes with the changing retail landscape after the outbreak of COVID-19 adjusts.
Buyers of all ages take advantage of these new payment methods, with the fastest growing age category Klarna has seen in the past year being Generation X (40-54 years). Klarna now has over 8.6 million UK customers who can shop from over 6.5,000 retail partners.
Luke Griffiths, UK General Manager at Klarna, says: “People today need convenience and flexibility when shopping more than ever, whether this distributes the cost of an item or gives them the opportunity to try it before buying it.
However, we are aware that it is sometimes easy to get excited and carried away by impulse purchases and that Klarna also plays an important role in helping our customers to buy the right things at the right time. That's what KlarnaSense is all about. "
Kate Nightingale, retail psychologist, says, "When shopping, it's easy to make automatic decisions. You see something you think is necessary, maybe more like a wish, and the specially designed website or business does the rest. Before you do it know, click "Pay Now".
But there is a way to find a balance – turn on your consciousness without cluttering it with information – by applying the rule of three before you checkout. "