Klarna seems to be copying TikTok's style by launching a new shoppable video feature.
👉 Background: Klarna is a Swedish fintech company that is best known for its buy-now-pay-later products in Europe, the US and Australia. It has 150 million consumers using its service, and 450,000 retail partners.
👉 What happened: But now, Klarna has given its site and app a social-first makeover. It has launched TikTok-style shoppable videos. Picture a bite-sized makeup video tutorial that shows off a makeup brand.
👉 What else: It's all part of Klarna's plan to be more than just a payment option on a retailer’s website - it wants to be the go-to spot before you even think about buying.
💡When you bring together the online shopping experience with a social experience, magic is in the air. But it’s really hard to do well!
💡Not many companies have been able to execute this combo well in Australia, in Europe or the US. But it has worked in Asia. Social-shopping features have been combined successfully on Asian superapps like Alibaba and WeChat.
💡 Social commerce is predicted to grow 3 times as fast as traditional e-commerce over the next three years. So Klarna be thinking: if we can make this baby work, then we could really be in the money.
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