With user numbers and shopping volume at Klarna reaching record levels, the “buy now, pay later” giant will step into the national spotlight Sunday as it drops its first Super Bowl ad.
More than 1 million U.S. customers joined Klarna each month since October, the Swedish fintech firm said, bringing its total number of users to 15 million by year-end—a twofold year-on-year increase. Monthly active users reached 3.5 million users in December, a 204 percent year-over-year jump, as shipping volume reached an all-time high that same month. Customers using Klarna’s core service can split the cost of their purchase into four equal installments, with the first quarter due upfront and the subsequent payments collected biweekly.
On the heels of all this growth, Klarna plans to debut its first Super Bowl ad in a Western-themed commercial featuring actor and comedian Maya Rudolph of “Saturday Night Live” and “Bridesmaids” fame.
“With 15 million consumers in the US and over 6,000 retail partners including Macy’s, Etsy, Sephora, and more, Klarna’s Big Game debut is another exciting milestone and we’re thrilled to be on the biggest stage of sports and culture,” Klarna’s CEO Sebastian Siemiatkowski told Sourcing Journal.
Klarna’s app averaged 60,000 new daily downloads in December and totaled nearly 4 million more app downloads than its competitors last year, the company said. According to Apptopia, it landed in the top 10 most downloaded shopping apps in the U.S. during the fourth quarter.
“Klarna’s accelerating growth is evidence of strong consumer demand for smarter, seamless, and more flexible shopping and purchase experiences,” David Sykes, head of Klarna US, said in a statement.
The firm’s app allows consumers to shop at online stores, as well as in-store at some of Klarna’s more than 60,000 participating locations. Users can receive price-drop notifications, create shareable wish lists and access exclusive deals.
Since launching in June, Klarna’s no-fee loyalty program Vibe has grown to more than 1 million members, it said. To date, members have claimed nearly 500,000 gift cards at stores like Amazon, Walmart, H&M and Sephora, it added. Starting this week, Vibe members can access rewards from even more brands, including Saks Fifth Avenue, Foot Locker, American Eagle, Finish Line and The Home Depot.