BEAUTY BAY, a leading online cosmetics retailer, is to enable shoppers to buy products and pay 30 days later with no hidden fees thanks to a partnership with a payment company Klarna.
The announcement comes as Klarna launches its latest research into the beauty industry, which finds that shoppers who purchase beauty products online say that access, variety and ‘getting it first’ are top of their priorities, with 55% of shoppers saying that they prefer to shop online for beauty products so that they can access the latest products earlier.
Beauty shoppers report that they want the basics "done right" when it comes to their online shopping. Customers say that returns (38%), reviews (37%) and showing items in stock (36%) could improve their shopping experience. Whereas, inspirational recommendations (20%) or better personalisation (19%) are less of an appeal to shoppers.
Consumers are also happy to invest more cash to secure better quality (73%), or longer lasting (74%) products, and a further 53% would like to be able to split the cost of these more expensive items.
Skincare (42%), bath and body products (34%) and haircare (33%) were shoppers’ top products to purchase online.
David Gabbie, joint executive officer at BEAUTY BAY, explains:“Our offering is hugely influenced by customer demand, the latest trends and the most innovative breakthroughs in beauty technology. We pride ourselves on bringing the best of everything straight to our shoppers. Naturally, making sure our customers have the best possible user experience is of the utmost importance to us. Partnering with Klarna to offer their Pay later solution means we can give our customers more freedom and flexibility when buying online — helping us to boost sales, drive loyalty and increase customer satisfaction.”
Luke Griffiths, General Manager at Klarna UK adds: “Payments play an integral role in the online user experience. At Klarna, our aim is to help retailers give their customers more control over how and when they pay, so we were really pleased to have been approached by BEAUTY BAY this year. Consumers want to be able to pay later for beauty, with our latest research showing 78% of online beauty shoppers would be more likely to purchase an item online if they could pay for it after delivery. It has big potential for the industry and BEAUTY BAY is leading the way. We can’t wait to see how the industry benefits from the simplicity, convenience and easy payment process.”
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