All the shoe brands you can buy now and pay for later with Klarna
Times are hard.
Amid the ongoing coronavirus pandemic, millions of people around the world continue to struggle with its many ripple effects, which include a huge blow to the global economy and, by extension, people’s wallets. .
Throughout the six months since the health crisis in the United States, levels of discretionary spending have fluctuated with other macroeconomic trends such as unemployment, government stimulus and mandatory lockdowns or restrictions.
Volatility has certainly taken its toll in retail, but it has also spurred the already growing trend of low or no interest payment options for lower cost non-essentials such as clothing, footwear and accessories.
Among the most popular vendors is Klarna, a âbuy now, pay laterâ service that brands can deploy in-store and online.
Here’s how it works: A merchant registers as a partner of the Klarna brand, which enables them to offer the service to customers. A customer is interested in a product from a brand or retailer that uses Klarna. The “cuStomer chooses to use the service and pays 25% to the brand or retailer in advance; Klarna pays the remaining balance of the cost of the product to the brand and assumes all risk. The customer repays Klarna – without interest – in installments of 25%. Klarna also does not charge late fees. Thus, if a customer is in arrears with their payment, the company suspends their account so that they cannot make additional purchases at this time.
As COVID-19 continues to disrupt traditional retailing and more brands explore the direct-to-consumer channel, payment plans and ‘buy now, pay later’ options may deliver a customer experience improved, especially on mobile. And merchants who partner with Klarna can also benefit from exposure to new consumers, through the Klarna app.
Brand partners, who all pay Klarna a fixed fee, are listed in the Klarna app and store directory, giving them the opportunity to expand their customer base.
Here we collect the shoe brands currently using Klarna’s “Buy Now, Pay Later” service.
More New Shoes
Subscribe to the FN newsletter. For the latest news, follow us on Facebook, Twitter and Instagram.