Klarna has released data that indicates a strong shift in consumer trends with US-based consumers increasing their share of wallet spend in electronics and online marketplaces through the Klarna app.
According to the press release, Klarna has been analysing share of wallet, or how its app users are dividing their spending among different shopping categories, to identify which categories they are shopping most often through the Klarna app. Therefore, the Wish List data from its app revealed that US-based shoppers are most interested in gaming and electronics, home goods, and footwear gifts this holiday season.
Moreover, the company’s proprietary data from the week of 9-15 November 2020 shows that customers are spending more on marketplaces. Besides, share of wallet in the marketplace category increased (44%) when compared to an average week in the third quarter (July–September 2020). This category includes sites such as Amazon.com, Target.com, eBay.com, Walmart.com and SamsClub.com.
In addition, Klarna’s app data showed that the share of wallet in the electronics category grew by 15% in the week ended 15 November compared to the previous week – the most of any category during the comparison period. This was especially pronounced among Gen Z and Baby Boomers, who increased their share of wallet in the category by 19% and 21%, respectively, week over week.
Furthermore, throughout November and December, Klarna will analyse consumer spending behaviour on a weekly basis to identify notable insights around consumer behaviour during the critical 2020 holiday peak season period.
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