Consumer needs are rapidly changing, and Alex Marsh, head of Klarna UK explains why it’s more important than ever to take a customer-centric approach
Unprecedented is a word that no- one wants to hear again. However, it can’t be overstated that as people continue to shelter from the virus at home, travel restrictions and store closures have truly changed the way we browse and buy forever. The world has gone digital, and retailers have been forced to adapt or risk an uphill battle to survive.
Yes, these trends were already in motion pre-pandemic, but the situation has expedited change from roadmaps years in the future, to critical pathways mere weeks away.
Digital adoption during the pandemic has been an obvious shift, with many brands finally going online and enthusiasts embracing digital innovations like livestreaming, customer service video chat and social shopping. Suddenly, there is no such thing as a typical online shopper - Waitrose alone reported that the number of shoppers aged 55+ trebled in 2020. Changing behaviours has brought out new needs, with shoppers demanding ever-more sophisticated interactions and human experiences across the channel mix.
Our recent survey across 4,000 global shoppers explored how priorities differ across a variety of personality types and life stages. This research resulted in the characterisation of five shopper tribes identified as Family Firsts, Aspirational Achievers, Savvy Fashionistas, Here and Nows and Conscious Consumers. Whilst priorities can appear similar, brands and retailers should consider the subtle differences in order to tap into audiences and create deeper, emotional connections. Whether it be offering flexible payment options or creating inspiring content
and engaging experiences, a partnership with Klarna can help retailers to delight every ‘tribe’.
At Klarna, customer obsession is at the core of our business. This is reflected in the power of our consumer network - a cohort of 90+ million shoppers globally. One universal need which has united our consumers and merchants is the importance of feeling safe and secure across the shopping journey. A familiar and trusted payment icon, with one time passwords at checkout, and a sophisticated Buyers Protection Policy (similar to that offered on a credit card, but handy for the 61% of millennials who do not own one) saw us rise into the Top 10 most loved Financial Services brands in the UK.
The art of resilience that a disaster brings has been a real opportunity in the retail industry to harness creativity for survival, and put customer obsession first. Partnering with Klarna does more than just add another BNPL option to your checkout. It’s the first step to driving customer acquisition and retention, paving the way for long lasting loyalty that will safeguard and create future growth. Join the Future of Selling with Klarna now.