Klarna Sees 129 Percent Jump in BNPL Sales on Cyber Monday
Klarna said today that year-over-year sales on its flexible payments platform soared 129 percent on Cyber Monday with Black Friday coming in with a 141 percent gain. The company also analyzed its vast database to reveal the most-shopped categories on Black Friday.
Klarna said the sales growth on Black Friday underscores “rising demand for alternative and flexible payment solutions (despite overall industry sales reported as being lower, both online and in-store).”
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The company identified that the most popular categories on Black Friday were clothing and shoes, entertainment, home and garden, and children’s products. Klarna also revealed the share of purchases by demographic cohort. Millennials garnered 52 percent compared to Gen X’s 29 percent and Gen Z’s 13 percent. Baby Boomers had 6 percent.
Klarna also noted that Gen Xers “showed the highest increase of sales on Black Friday of any age group, compared to the average day.”
The buy now, pay later and retail service provider also shared data on the most-shopped product categories by region in the U.S. The data was over a baseline to the national average.
In the mid-Atlantic, the leisure, sport and hobby category was tops, while children’s products were number one in the Mountain region. In the Pacific region, health and beauty resigned while in the South Atlantic region, entertainment was tops. In the West (North Central region), entertainment was also tops while in the West (South Central) the leisure, sport and hobby category was number one.
In the East (North Central), clothing and shoes were number one, while in the East (South Central) the leisure, sport and hobby category was tops.
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