European payments provider Klarna has just announced a partnership with Europe’s largest independent online beauty retailer, BEAUTY BAY.
BEAUTY BAY customers will now be able to use Klarna’s Pay later service when checking out online, enabling shoppers to receive their products and pay for them up to 30 days later, with no interest or fees.
Missing out on the latest launches from big brands and hot labels will be a thing of the past, as customers can now nab the latest lip-stains and highlighters, safe in the knowledge that they can cover the costs later that month.
The announcement comes as Klarna also launches its latest research into the beauty industry. Shoppers who purchase beauty products online have shown that access, variety and ‘getting there first’ are top of their priorities, with 55% of shoppers prefering to shop online for beauty products so that they can access the latest products earlier.
Beauty shoppers have also stated they want the basics done right when it comes to online shopping. Returns (38%), reviews (37%) and only showing items in stock (36%) all top the table for how to improve shopper experience; in comparison to inspirational recommendations (20%) or better personalisation (19%) which has less appeal.
Shoppers are also happy to invest more cash to secure better quality (73%), or longer lasting (74%) products, and a further 53% would like to be able to split the cost of these more expensive items.
Skincare (42%), bath and body products (34%) and haircare (33%) were shoppers’ top products to purchase online.
Since its launch in 2007, BEAUTY BAY has grown into one of the biggest online beauty destination, offering shoppers over 7,000 products from over 200 of the very best UK and international brands — including makeup, skincare, body products and electricals.
David Gabbie, Joint Executive Officer at BEAUTY BAY, said:
Our offering is hugely influenced by customer demand, the latest trends and the most innovative breakthroughs in beauty technology. We pride ourselves on bringing the best of everything straight to our shoppers. Naturally, making sure our customers have the best possible user experience is of the utmost importance to us. Partnering with Klarna to offer their Pay later solution means we can give our customers more freedom and flexibility when buying online — helping us to boost sales, drive loyalty and increase customer satisfaction.
Luke Griffiths, General Manager at Klarna UK added:
Payments play an integral role in the online user experience. At Klarna, our aim is to help retailers give their customers more control over how and when they pay, so we were really pleased to have been approached by BEAUTY BAY this year. Consumers want to be able to pay later for beauty, with our latest research showing 78% of online beauty shoppers would be more likely to purchase an item online if they could pay for it after delivery. It has big potential for the industry and BEAUTY BAY is leading the way. We can’t wait to see how the industry benefits from the simplicity, convenience and easy payment process.