Shoppers shift their share of ecommerce spending towards tickets and travel, Klarna reveals

According to the press release, Klarna also identified spending trends among US Gen Zers, Millennials, Gen Xers, and Baby Boomers during Cyber week, pointing to a rise in purchases in the leisure, sport & hobby, and marketplace categories leading into the holidays. Some of the key findings:

• The intangible items category, which includes event tickets and travel services, saw a 4% increase in share of wallet among all generations during Cyber Week compared to Black Friday week (week ending 29 November 2020). This growth was particularly pronounced among Millennials, whose share of wallet in this category grew by 5% week over week. 

• The leisure, sport, and hobby category’s share of wallet increased by 14% among all generations during Cyber Week compared to Black Friday week. This growth was especially pronounced among Millennials, Gen X, and Boomers, whose share of wallet in this category rose by 14%, 15%, and 33%, respectively, week over week. 

• Marketplaces remain a popular shopping category among all generations. This category’s share of wallet rose by 3% week over week and by 48% during Cyber Week compared to the average baseline week in Q3. Shoppers were divided on children’s products during Cyber Week. Klarna app data shows that this category’s share of wallet fell by 18% among Millennials and 11% among Gen X during Cyber Week compared to the week ending 29 November. Meanwhile, share of wallet among Gen Z and Boomers rose by 13% and 22%, respectively, week over week. 

• Shoppers were also divided on home and garden products during Cyber Week. While Boomers’ share of wallet in this category grew by 28% during Cyber Week compared to the week prior, Gen X, Millennial, and Gen Z shoppers shifted their spending away from this category, decreasing their share of wallet by 8%, 11%, and 16%, respectively, week over week. 

• While electronics continues to be a popular spending category among Klarna shoppers, products in this category were less of a priority during Cyber Week. This category registered a 20% drop in share of wallet across all generations during Cyber Week compared to the week prior. 

Klarna has been analysing share of wallet, or how its app users are dividing their spending among different shopping categories, to identify which categories consumers are shopping most often through the Klarna app. Throughout December 2020, the company will continue to analyse proprietary data weekly to identify notable insights into consumer behaviour during the critical 2020 holiday peak season period.