Online sales spiked by 2000% during final hours of Black Friday, while shoppers prioritized electronics and marketplace purchases
Online sales spiked by 2000% during final hours of Black Friday, while shoppers prioritized electronics and marketplace purchases New Klarna data reveals record increase in sales via the US Klarna app between 9-11 pm PT |
[02-December-2020] |
NEW YORK, Dec. 2, 2020 /PRNewswire/ -- Klarna, the leading global payments provider and shopping service, today released new data reporting a massive spike in US sales during the final hours of Black Friday. Between the hours of 9-11 pm PT/12-2 am ET on November 27th, sales made using the Klarna app, which allows users to shop at any online store, increased by over 2000% compared to an average shopping day in the US. Klarna's new data also reveals the most popular product categories among generations, indicating that US shoppers were primarily focused on electronics and marketplace purchases during Black Friday. "US shoppers were the most active towards the end of the day on Black Friday, indicating that consumers who were working or busy during the day were still eager to take advantage of last-minute Black Friday deals," said David Sykes, Head of US at Klarna. "Our proprietary data also indicates that shoppers were purchasing holiday gifts for their loved ones on Black Friday, taking advantage of mobile shopping and flexible payment options to shop for products in the electronics, marketplaces, and children's categories."
Klarna has been analyzing share of wallet, or how its app users are dividing their spending among different shopping categories, to identify which categories consumers are shopping most often through the Klarna app. Throughout November and December, the company will continue to analyze proprietary data weekly to identify notable insights into consumer behavior during the critical 2020 holiday peak season period. Methodology Klarna analyzed purchases made through Klarna's US in-app shopping feature on November 27 (Black Friday) compared to an average baseline day in the US during the third quarter (July-September), and compared to an average day during the previous week (ended November 22).
Klarna also compared hour-by-hour sales during an average day in the US during the first, second and third quarters, versus hourly sales during Black Friday. The data indicated periods of significant growth during specific hours of Black Friday. About Klarna We make shopping smoooth. With Klarna, consumers can buy now and pay later, so they can get what they need today. Klarna's offering to consumers and retailers includes payments, social shopping and personal finances. Over 200,000 retail partners, including H&M, IKEA, Expedia Group, Samsung, ASOS, Peloton, Abercrombie & Fitch, Nike and AliExpress, have enabled Klarna's innovative shopping experience online and in-store. Klarna is ranked number five on the 2020 CNBC Disruptor 50 list, is the most highly valued fintech in Europe with a valuation of $10.65 billion, and is one of the largest private fintechs globally. Klarna was founded in 2005, has over 3,500 employees and is active in 17 countries. For more information, visit klarna.com. Media Relations Contacts: Berns Communications Group Michael McMullan / Danielle Poggi mmcmullan@bcg-pr.com / dpoggi@bcg-pr.com This information was brought to you by Cision http://news.cision.com The following files are available for download: View original content:http://www.prnewswire.com/news-releases/online-sales-spiked-by-2000-during-final-hours-of-black-friday-while-shoppers-prioritized-electronics-and-marketplace-purchases-301183810.html SOURCE Cision AB |
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