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A Q1 2022 survey by Klarna found that 20% of US respondents had participated in a livestream shopping event. Our data, collected with Bizrate Insights, found similar levels of engagement and interest. Despite the current buzz, we remain skeptical about live shopping.

More Chart of the Day:. 8/22 - Gen Z鈥檚 social motivators. 8/21 - Buying into Klarna. 8/18 - Agencies in review. 8/17 - Marketing measurement mix-ups. 8/16 - Digital out-of-home climbs. Note: Data was provided to Insider Intelligence by Place Exchange. Methodology: Data is from the July 2023 Place Exchange "H1 2023 Place Exchange Programmatic OOH Trends Report."

More Chart of the Day:. 8/21 - Buying into Klarna. 8/18 - Agencies in review. 8/17 - Marketing measurement mix-ups. 8/16 - Digital out-of-home climbs. 8/15 - The social generation. Methodology: Data is from the July 2023 Insider Intelligence | eMarketer "US Gen Z social media survey 2023." 1,005 US Gen Z social media users ages 15-26 were surveyed online during July 13-21, 2023.

Retailers and marketplaces can take advantage of ChatGPT to build their own chatbots for planning trips (with Kayak), outfits (with Klarna), meals (with Instacart), and more. These plug-ins have a strong monetization case, pushing users past idea generation into buying tickets, clothing, and food.

More Chart of the Day:. 8/25 - Social video slows. 8/24 - The rise and fall of ecommerce growth. 8/23 - Programmatic OOH watch. 8/22 - Gen Z鈥檚 social motivators. 8/21 - Buying into Klarna. Note: A digital commerce platform is a comprehensive software that enables businesses to build digital storefronts and facilitates online transactions.

What this means for payment players: Holiday spending is set to be a major boost for BNPL incumbents like Afterpay and Klarna as consumers try to stretch their holiday budgets. Partnerships with high-traffic retailers like Amazon and Target will help bolster providers鈥� payments volume and revenues.

I don't know if you've guys seen the Klarna app at all, but making shopping recommendations, connecting into your financial lives is where they're extending. Carina Perkins:. Yeah, I think they're really looking to become a retail channel as well. So people are finding products through their app rather than finding products and then using Klarna to pay. Rob Rubin:.

ChatGPT creator OpenAI just announced partnerships with Instacart, Klarna, OpenTable, and more, opening exploration of the AI technology into new business implementations. For now, Shopify and Instacart are using ChatGPT to create shopping assistance chatbots.

When they do buy and browse online, millennials are looking at brand accounts rather than influencer or retailer accounts, according to Klarna. Influencer culture is often considered a millennial concept because that鈥檚 where it began, but millennials are more comfortable with the info delivered from brands. Don鈥檛 sink your full social budget into creators.

That may be why some BNPL providers, like Klarna, are establishing partnerships or launching services to offer consumers financial literacy education. What鈥檚 next? The CFPB wants to understand whether using BNPL improves or exacerbates the financial health of consumers under economic distress. Further research could determine how the government moves forward with regulating BNPL providers.

The Consumer Financial Protection Bureau (CFPB) opened an inquiry into Affirm, Klarna, Afterpay, PayPal, and Zip in December to determine the risks and benefits of BNPL products. And last month, it opened an inquiry into Apple鈥檚 BNPL offering. New guidelines from the CFPB could lead to compliance costs and reworked products. Fears of a recession are also disturbing the industry.

Klarna Bank CEO Sebastian Siemiatkowski told Bloomberg TV that all employees at the Swedish buy now, pay later fintech are offered a ChatGPT-4 account and encouraged to experiment with the new tech. 鈥嬧��

Why Klarna is making an omnichannel push ahead of the holidays. Pinterest鈥檚 director of strategy on how consumers use its platform to discover and buy products. How Walmart, Trader Joe鈥檚, and Target boost holiday impulse purchases. Note: Data was provided to Insider Intelligence | eMarketer by Bizrate Insights.

Klarna has a plug-in for shopping, which gives consumers recommendations based on their product preferences and budget. That鈥檚 just a limited selection of what will become a massive library of ChatGPT plug-ins as the tech transforms from a chat portal into something that looks more like a platform. The ad potential.

Food: Deliveroo and Klarna partnered so customers can pay for carryout and groceries using BNPL. And politicians slammed British supermarket Iceland for its BNPL offering, which it claimed would help shoppers during the cost of living crisis. Consumers have also expressed interest in even broader BNPL use cases:.

Mastercard鈥檚 vast merchant network and technology expertise gives its BNPL program a competitive advantage over incumbent BNPL providers like Afterpay or Klarna. And Mastercard鈥檚 ties to banks may reduce the perception of risk and add clout since they can promote the BNPL service to their customers. What鈥檚 the catch?

Real-world example: Klarna has a retail media network on its platform, which also boasts an AI-powered shopping assistant. This was originally featured in the Retail Media Weekly newsletter. For more marketing insights, statistics, and trends, subscribe here.

Case study: Klarna, Instacart, and Expedia are working with OpenAI to create plugins that allow users to ask open-ended questions about what to eat for dinner or where to go on vacation. The chatbot can then make a recommendation, linking to specific products. Watch out: Customer-facing AI may not be as sensitive to the tone of queries as a human representative might be.

A sizable share of worldwide consumers, 16%, begin their shopping journey on online marketplaces such as Amazon and Tmall, per Klarna. Online marketplace sales are soaring. Sales grew 53% year-over-year on online marketplaces operated by software vendor Mirakl over Cyber Week, the seven-day period ending on Cyber Monday.

In July, Klarna secured an $800 million funding round at a $6.7 billion valuation鈥攁 major drop from the $46 billion valuation it achieved in June 2021. Rising interest rates have complicated BNPL players鈥� attempts to get funding.

It will help Affirm tighten customer loyalty and compete more aggressively with credit cards and providers like Klarna that also have rewards programs. Debit+. Levchin said Affirm will add 鈥渟ignificant features鈥� to Debit+, which connects to customers鈥� bank accounts so they can make standard debit or installment payments.

Customers can pay with debit or credit cards, PayPal, Klarna, or Super Payments鈥� proprietary payment method鈥攚hich carries no fees and offers instant cash back. The cash back and commission fees depend on the payment method customers select. Remittance startup Pomelo raised $20 million in seed funding, per TechCrunch.

Providers may also build out their product suites: Klarna recently extended its shopping app to give UK customers a clearer view of their shopping histories and let them track their orders. BNPL providers can maintain customer appeal and increase engagement by adding new features and solutions.

Expedia has one for planning trips, Instacart can help suggest recipe ideas and build shopping lists, and Klarna can parse through online shops and compare prices. Kaput sees plugins as the next App Store and a space for brand investment. 鈥淭hat might be the first person I start paying,鈥� he said. Personalization: AI has the potential to unlock hyperpersonal campaigns.