New Data from Klarna Show that Home Furnishings Stores and Furniture Stores Hit Year-to-Date Highs in Daily Volumes During the Last Week
Klarna, a leading global payments and shopping provider, released new data that indicate strong volume growth in home goods and furniture categories purchased in the US through the Klarna app, which allows consumers to shop from any online store. Specialty home furnishings stores saw a year-to-date high on April 5, when the Klarna-enabled transaction volume at such stores was 111% higher than the daily average for 2020. In addition, furniture stores registered a year-to-date high on April 10, with transaction volumes up 61% versus the daily average.
“We’ve seen a trend of US consumers focusing on home improvement projects as they remain under `stay at home’ orders during the coronavirus outbreak,” said David Sykes, Head of US at Klarna. “Our recent data indicate they are taking advantage of mobile shopping and flexible payment options to make their homes more comfortable during this crisis and tackle DIY projects that they may have been putting off.”
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Home-related goods purchases made through the Klarna app continued their upward trend in the week of April 5-11, according to the company’s transaction volume data. Klarna has been analyzing share of wallet, or how Klarna 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.
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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 26% among Gen Zers, by 5% among millennials and by 2% among Gen Xers week over week in the week ended April 11.
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