NEW YORK, Nov. 25, 2020 /PRNewswire/ -- Klarna, the
leading global payments provider and shopping service, today
released new holiday shopping data that indicates shoppers in the
US shifted their share of e-commerce spending towards the leisure,
sports & hobby and home & garden categories in the week
ahead of Thanksgiving (November
16-22). Analyzing transactions made through the Klarna app,
which allows consumers to shop from any online store, Klarna also
identified the most-shopped categories among US Gen Zers,
Millennials, Gen Xers and Baby Boomers leading up to Black
Friday.
"US shoppers are focusing more on leisure, sports, and home
goods purchases as we approach Thanksgiving and Black Friday," said
David Sykes, Head of US at Klarna.
"Klarna's new data also indicates that younger shoppers are taking
advantage of mobile shopping and flexible payment options to
purchase home supplies, appliances and furniture. This spending
shift may reflect an increase in the number of consumers planning
to cook and bake for Thanksgiving - a holiday that many younger
households will be celebrating on their own this year due to safety
concerns amid the ongoing pandemic."
KEY FINDINGS
- The leisure, sports & hobby category saw 6%
week-over-week growth in share of wallet across all generations in
the week ended November 22, with the
most-shopped retailers being book stores, sporting goods stores,
and gift card and souvenir shops. This growth was especially
pronounced among Millennials (up 6%), Baby Boomers (up 7%) and Gen
Xers (up 6%).
- The home and garden category's share of wallet also grew
by 11% across all four generations, with the most-shopped retailers
being furniture, home supply and household appliance stores. This
growth was especially pronounced among Millennials (up 13%), Baby
Boomers (up 13%) and Gen Xers (up 11%).
- Gen Zers and Gen Xers shifted more of their spending toward the
health and beauty category, increasing their share of wallet
spent on these items by 12% and 2%, respectively, week-over-week.
Meanwhile, share of wallet spent on this category fell among
Millennials (down 4%) and Boomers (down 17%).
- Shoppers were divided on electronics during the week
ended November 22. Boomers and Gen
Xers shifted more of their spending towards the category,
increasing their share of wallet spent on electronics by 17% and
8%, respectively, week-over-week. Electronics were less of a
spending priority for Gen Z shoppers, with their share of wallet
spent on the category falling by 8%.
- All generations shifted spending away from the
marketplace category, which registered a 5% drop in share of
wallet week-over-week.
Klarna has been analyzing 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 November and December, the company will
continue to analyze proprietary data on a weekly basis to identify
notable insights around consumer behavior during the critical 2020
holiday peak season period.
Methodology
Klarna analyzed purchases made through Klarna's US in-app
shopping feature for the week of November
16-22, 2020, versus the previous week. The data indicates
the distribution of purchase volumes among the following selected
categories:
- Home and garden: furniture, tools and home improvement, pet
supplies, kitchenware, plants and flowers, and cleaning
products
- Leisure, sports & hobby: sports and outdoor gear, concept
stores, hobby articles, prints and photos, costumes, and party
supplies
- Health and beauty: health, beauty and cosmetics; body and
haircare; personal care; dietary supplements; fragrances; and
prescription optics
- Marketplace: items purchased from the likes of Amazon.com,
Walmart.com, Target.com and eBay.com
- Electronics: diversified electronics, electronic equipment and
related accessories, household electronics (including white goods
and appliances), office machines and related accessories (excluding
computers), and car electronics
About Klarna
We make shopping smoooth. With Klarna, consumers can buy now and
pay later, so they can get what they need today. Klarna's offering
to consumers and retailers includes payments, social shopping and
personal finances. Over 200,000 retail partners, including H&M,
IKEA, Expedia Group, Samsung, ASOS, Peloton, Abercrombie &
Fitch, Nike and AliExpress, have enabled Klarna's innovative
shopping experience online and in-store. Klarna is ranked number
five on the 2020 CNBC Disruptor 50 list, is the most highly valued
fintech in Europe with a valuation
of $10.65 billion, and is one of the
largest private fintechs globally. Klarna was founded in 2005, has
over 3,500 employees and is active in 17 countries. For more
information, visit klarna.com.
Media Relations Contacts:
press.us@klarna.com
Berns Communications Group
Michael McMullan / Danielle Poggi
mmcmullan@bcg-pr.com / dpoggi@bcg-pr.com
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SOURCE Klarna Bank AB