Klarna Announces Partnership With Saks OFF 5TH Ahead of the Holidays
Luxury Off-Price Retailer Enhances Digital Offering With Buy Now, Pay Later Options – Just In Time For Gift-Giving Season
Klarna, the leading global payments provider and shopping service, announced that it has partnered with premier luxury-value destination Saks OFF 5TH to offer customers buy now, pay later solutions at checkout. US shoppers on Saksoff5th.com can now purchase their favorite designer brands with the added convenience and flexibility of splitting their purchases into four interest-free payments through Klarna.
“At Saks OFF 5TH, we continue to see great opportunity ahead with our digital business and are focused on identifying innovative ways to enhance our online experience for our customers,” said Paige Thomas, President & CEO, Saks OFF 5TH. “Our partnership with Klarna enables us to offer a more inclusive and convenient digital shopping environment, so our customers have easy access to the designer brands they love and trust with greater financial control.”
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According to a recent study by Klarna, 79% of US shoppers surveyed said that mindful spending and budget-friendly strategies while shopping allow them to feel more confident in their financial future. With online shopping expected to surge this 2020 holiday season, both Klarna and Saks OFF 5TH have also seen an increased demand for seamless, innovative and immersive digital retail experiences with exciting online browsing options. Klarna’s 2020 Holiday Retail Report, which analyzed industry trends and key consumer insights leading up to the holidays, revealed that nearly 6 out of 10 shoppers expect the same level of customer service from retailers both in-store and online. With the omni experience top of mind, Saks OFF 5TH also intends to launch Klarna in-store in 2021.
“For years, Saks OFF 5TH has been a go-to destination for shoppers seeking memorable gifts and the best in luxury value,” said David Sykes, Head of US at Klarna. “Klarna’s suite of flexible payment options will further enhance the Saks OFF 5TH shopping experience to match the evolving interests and needs of US shoppers this holiday season and beyond.”