Categories: Tech

Klarna and e-commerce: the impact of BNPL in Italy

After a year and a half in our country, Klarna inaugurated its own Milan headquarters and wanted to make a point on‘e-commerce and the potential of the BNPL in Italia. A sector in great growth, also thanks to the flexibility of solutions such as Buy Now Pay Later.

Klarna and the impact of e-commerce in Italy: the opportunity of the BNPL

The report “Innovation and employment. Analysis of the impact of Klarna in Italy ”carried out with Casaleggio Associati takes stock of a sector in turmoil. During the past two years of the pandemic, 3.5 million new users they started shopping online. A sector that had a turnover in 2021 64 billion euros with an annual growth of +33%.

In this context, however, digital payments are of enormous importance. The 63% of shoppers would shop more online if there were more payment options. This is why the impact of the Buy Now Pay Later (BNPL) is enormous.

Solutions such as “Pay in 3 installments ”by Klarna they can in fact bring an additional turnover of 16.3% for those who sell online. Although for the moment not many use it in Italy: only 12% have used it, while 50% use credit cards and 28% digital wallets.

Today the BNPL represents 3% of the revenues of Italian merchants. But the figure is on the rise. Klarna has been in our country recently but already oltre 7.000 brand and a million users use it. In Sweden, the BNL affects 50% of consumers and we also have the 47% would like to use it.

An impact on the whole economy

Furthermore, the Buy Now Pay Later has a potential impact for the entire economy. According to the data that emerged, it could lead 5,000 more jobs on the entire industry. Klarna has already hired 190 employees and wants to grow by 40% by the end of the year. In 2021, 15,750 new places were born for e-commerce and BNPL can increase this trend.

Francesco Passone, Head of Southern Europe of Klarna, he explained: “Today, companies that want to remain competitive must be able to make ‘bold moves’, seizing the opportunities offered by the market and exploiting consumer trends as real growth levers. The recent spread of new payment systems that have defined new frontiers such as Buy Now Pay Later is an example: in the expanding context of e-commerce, innovative payment methods help to attract and retain consumers, who are increasingly looking of fluid and transparent shopping experiences “.

And he explains: “Klarna’s Italian tech hub was created precisely to gather the best talents and develop an offer capable of responding to these needs. At the same time, we are proud to be able to contribute to the economy of a dynamic city like Milan, which represents the ideal crossroads between culture and new ideas. The report presented today gives us a clear picture of the current trends that we want to direct and guide, for the market but also for our resources “.

Published by
Walker Ronnie

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