Klarna, a leading global payments and shopping provider, today released new data that show warehouse clubs saw a 16% week-over-week increase in transactions made through the Klarna app, which allows consumers to shop from any online store, in the week ended April 25. Warehouse clubs saw their second-best day of the year on April 23, behind only the Friday before most of the US went under some kind of quarantine. In addition, home and garden sales continued their upward trend for the sixth week in a row as Gen Zers, millennials and Gen Xers continued to shift share of wallet toward the category.
“We know US consumers have been focusing for several weeks on items that will make their home life more pleasant and comfortable as they wait out partial quarantines aimed at slowing the spread of the coronavirus,” said David Sykes, Head of US at Klarna. “Our most recent weekly data show that consumers are embracing buy now, pay later options when they shop at warehouse clubs and home and garden stores. That indicates that people are still concentrating on improving their home environments, even as retail and other businesses begin to return to normal in a number of markets across the US. Stay-at-home orders are being lifted, but people still seem to be planning to stay in most of the time.”
Home and garden purchases made by Gen Zers, millennials and Gen Xers through the Klarna app continued their upward trend in the week of April 19-25, according to Klarna’s transaction volume data. Klarna has been analyzing share of wallet, or how its app users are dividing their spending among different shopping categories, week by week to identify what product categories Gen Zers, millennials and Gen Xers are shopping for most often using Klarna’s flexible payment options and how they are shifting their e-commerce spending as the coronavirus pandemic wears on.
Klarna app users’ share of spending on home and garden items-such as furniture, tools and home improvement, pet supplies, kitchenware, plants and flowers, and cleaning products-grew by a whopping 40% among Gen Zers, by 4% among millennials and by 2% among Gen Xers week over week in the week ended April 25.
Over the coming weeks, Klarna, which serves 7 million consumers in the US and 85 million consumers globally, will continue to analyze transaction data weekly to identify how the coronavirus outbreak is affecting e-commerce and consumer shopping behavior.
