Luxury department store Liberty has recently announced a new partnership with renowned payment provider Klarna. This collaboration will allow Liberty’s customers to utilize Klarna’s Buy Now, Pay Later (BNPL) service for their online purchases. The decision to team up with Klarna stems from the increasing recognition of interest-free instalment payments among luxury brands.
Interestingly, Klarna’s recent research has revealed that an impressive 42% of shoppers prefer to opt for BNPL options rather than traditional credit cards, especially when purchasing higher-priced items. This substantial preference for BNPL has not gone unnoticed by other high-end retailers like Harrods, Farfetch, and Rimowa, who have already incorporated Klarna into their payment methods.
Apart from expanding Klarna’s customer base, this partnership also aligns with the company’s focus on responsible consumption. Klarna actively promotes the idea of consumers considering the environmental impact of their shopping habits. They emphasize that luxury products are often more durable, crafted from high-quality materials, and have the potential to be passed down through generations or resold.
Interestingly, in the UK, over half of luxury shoppers claim that their purchases of high-end goods contribute to a more sustainable lifestyle. Moreover, a notable 46% of these consumers firmly believe that investing in luxury items ultimately saves them money in the long run.
Liberty’s introduction of Klarna as a payment option aims to offer its customers greater flexibility and convenience when purchasing luxury products. This partnership reflects the evolving retail landscape and the increasing popularity of BNPL services among consumers, even within the luxury sector.
If you want to know more about Klarna and its Buy Now, Pay Later service, you can visit their official website here. For an in-depth understanding of Liberty, their luxury products, and other services they offer, you can explore their website here.
