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145% more conversion through Klarna installment payment
In your online store
In the following video, we explain how and why you can achieve145% more conversions with Klarna installment payments in your online store. Interest in installment payments is steadily increasing among customers. Where does this come from, what are the advantages and are there any disadvantages for retailers? We have the answers.
How do you achieve the conversion boost?
Versace, Gucci, Balenciaga and Burberry are just 4 big brands that all have one thing in common. They offer their customers the option of paying by Klarna installments in their store and this is no coincidence. But not only large luxury brands benefit from this, our small and medium-sized store customers were also able to achieve a conversion rate optimization of up to 145% after the integration of Klarna in their store. We took over the entire process, from creating the business account to store integration for various store systems, allowing the retailer to concentrate on other things. If you are also interested, you will find the link to our website in the video description as well as here in the video as an info card.
145% more conversion through Klarna installment payment - Where does the interest come from?
But where does the growing interest in installment payments come from?
If you look at the statistics for Germany’s gross domestic product, you can see at first glance that there has been a steady decline since the second quarter of 2023. Added to this is the rising inflation rate, which currently stands at 2.2%. What has not changed, however, is consumer demand. This is exactly where the intersection of both factors is a possible installment payment in your store.
The advantages
This avoids having to settle high expenses with a single payment. Payment by installments therefore helps to keep the financial burden as low as possible. In addition, you have the advantage of being able to buy higher quality brands, thereby saving money in the long term and making more sustainable and progressive purchases.
145% more conversion with Klarna installment payment - How does Klarna work?
But how exactly does Klarna work from a merchant’s perspective?
There are now native integrations for all common store systems such as Shopify, Shopware, Magneto, Oxid and others. All you need is a Klarna Business account.
The Klarna API access data will then be displayed within this account. These must then, for example in your Shopify payment area, which establishes a connection between the two systems.
145% more conversion through Klarna installment payment - Summary
In addition to the usual payment methods, the customer is then also shown Klarna as a selection option in the Balenciaga store, giving the customer the option of dividing their payment into 3 installments and without interest. The longer the period, the more likely it is that interest will accrue. The customer can then easily manage and view purchases and pending payments in the Klarna app. This only creates advantages for you retailers. Klarna processes the purchase between the merchant and the customer and then transfers the money to the merchant’s account.
Integrate Klarna now
So if you want to benefit from this as an online store operator, please get in touch with us. Whether you use Shopify, Shopware or other common systems, we will be happy to handle the process for you. If you have any questions, please leave us a comment. Otherwise you have the possibility to make an appointment directly below.
Haben Sie Fragen oder brauchen ein individuelles Angebot? Zögern Sie nicht, uns zu kontaktieren.
