Klarna releases new consumer insights as US-based shoppers emerge from lockdown

Wednesday 30 June 2021 14:22 CET | News

Klarna has released its The State of Smoooth: 2021 Reopening Insights Report, exploring the current state of shopper preferences in the US across several verticals.

According to the press release, the report, which features insights from consumer surveys, as well as Klarna’s proprietary shopping and app data, is designed to equip retailers and brands with key information needed to best serve consumers’ changing tastes and demands for the second half of 2021.

Therefore, in the fashion and apparel sector, shoppers are updating their closets, as 89% of them plan to refresh their wardrobe as the world reopens, by cleaning out their closets (72%), purchasing new accessories (59%), splurging on 'going out' clothes (54%), and investing in new basics (54%). Besides, monthly spending will spike, with 89% of shoppers planning to spend more money on clothes now than they did throughout the pandemic, with one-third (33%) intending to spend USD 100–USD 250 more each month. 

Moreover, 69% of shoppers say the pandemic changed their shopping habits, with 80% saying they now prefer to shop online, 74% now looking for flexible payment options, and 56% now looking for deals or coupons. However, while plenty got comfortable browsing and buying online, the vast majority of shoppers (80%) also missed the in-person shopping experience – especially Gen Z and Millennials. Younger shoppers (Gen Zers: 33%, Millennials: 27%) were more likely than older shoppers (Gen Xers: 23%, Baby Boomers: 22%) to miss in-person shopping.

Regarding the events vertical, livestream shopping events are poised to become a USD 25 billion industry by 2023, and older audiences are the early adopters. While only 25% of shoppers reported having attended a virtual livestream shopping event, 60% of shoppers who had tried it say that it improved their online shopping experience. Baby Boomers (28%) and Gen Xers (27%) are more likely to have participated in these events (Millennials: 23%, Gen Zers: 20%). 

Additionally, shoppers are willing to spend more on in-person events, as 69% plan to attend in-person events within the next 6 months, and 70% are willing to spend more money to have great in-person experiences now compared to prior to the pandemic.

As for travel, shoppers prioritise savings, as 83% of consumers plan to travel over the next 6 months, and more than three-quarters (78%) will be flying. The top considerations for travelers when booking trips this year are cost and budgeting options (74%), followed by having a positive experience (47%), and health requirements (38%), such as mask mandates, and vaccines. In addition, 62% of consumers take environmental impact into account when planning trips.

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Keywords: Klarna, study, report, customer experience, ecommerce, livestream shopping
Categories: Payments & Commerce
Countries: United States
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