Klarna announces partnership with Saks OFF 5TH ahead of the holidays

Wednesday 25 November 2020 12:02 CET | News

Klarna has partnered with US-based luxury department store Saks OFF 5TH to offer customers BNPL (Buy Now, Pay Later) solutions at checkout.

According to the press release, thanks to the partnership, US-based shoppers on are enabled to purchase  designer brands with the added convenience and flexibility of splitting their purchases into four interest-free payments through Klarna. Besides, Saks OFF 5TH also intends to launch Klarna in-store in 2021.

Moreover, the companies have also seen an uptick in the number of shoppers seeking athleisure and casual wear. Recent data from the Klarna app, which allows consumers to shop from any online store, found that athleisure styles made up more than 90% of the top wish-listed items in the fashion category. 

Furthermore, additional Klarna Wish List data from January through September 2020 revealed broader consumer demand for luxury footwear, athleisure, and self-care and personal wellness items. therefore, recognising this shift in customer style preferences, Saks OFF 5TH has evolved its offerings with new brand additions and enhanced athleisure assortment based on customer feedback. 

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Keywords: Klarna, Saks OFF 5TH, US, business partnership, BNPL, Buy Now, pay later, instalment payments, checkout, online shopping
Categories: Payments & Commerce
Countries: United States
This article is part of category

Payments & Commerce