The global leader in the generational shift away from credit cards, Klarna is launching a new unbiased search and compare tool in the Klarna App.
The tool allows consumers to compare prices across thousands of retailers, helping them find what they are looking for at a cheaper price in a fraction of the time.
For retailers, the search and compare tool becomes a key acquisition, boosting visibility, traffic and sales with an engaged audience.
The Klarna App acts as an alternative to Google and Amazon when attracting traffic to retailer websites and provides Klarna with an additional revenue stream, building on its strong affiliate marketing business which generates 600m leads a year for Klarna’s retail partners.
Consumers can filter searches to target results to what is important to them, including: colour, size, features, customer ratings, store availability and shipping options.
The new filters eliminate the need to sift through millions of results typically found in traditional search engines, according to Klarna.
The tool offers a credible alternative as a starting point for online shopping journeys and will unlock a new revenue stream for Klarna, building on the company’s acquisition of PriceRunner in 2021.
Product results are listed in price order and the tool also shows price fluctuations, allowing consumers to decide when to buy an item in order to get the best deal.
Klarna’s search function can be found in a new panel in Klarna’s in-app browser.
The panel will show consumers everything they need to know to make a purchasing decision while browsing a product page.
A pop-up panel will automatically find and apply any available coupons to further discount the price of the consumer’s chosen products at checkout.
Sebastian Siemiatkowski, co-founder and CEO of Klarna, said: “You could spend the whole day comparing offers at conventional search engines or marketplaces, but you’ll always have doubts – have I really found the best product at the best price?
“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.
“For Klarna, today’s launch is a major milestone in our evolution from a payment network to a single shopping destination that covers everything from inspiring product discovery through to delivery tracking, digital receipts and seamless returns.”
Following its launch in the US last month, the search and compare tool went live this week in the UK, Sweden and Denmark anticipation of both Black Friday and the holiday season.
Klarna’s 2022 Holiday Report found that 85% of UK holiday shoppers said they will compare prices across retailers more often this year in comparison with 2021, and 84% said they would find it useful to have an app which would perform this function.
The addition of the search and compare tool now allows consumers to use the Klarna App to conduct every aspect of their purchase, from discovering products, finding the best prices, paying how they prefer and enjoying post-purchase perks like delivery tracking, digital receipts and seamless returns.