Purchases rise 34% in run up to Black Friday, says Klarna
Klarna has revealed that purchases increased ahead of Black Friday, 21-23 November, as consumers searched for cost-saving deals.
Sales during the week increased 34% against 2021. Monday 21 November reported the biggest sales rise at 42%, with Tuesday at 26% and Wednesday morning at 41%.
Klarna believes this improved performance suggests that "the current economic situation is influencing consumer behaviour as shoppers are keen to find deals that could help them save in the long run".
The product categories with the biggest change in sales compared to a normal day were Leisure, Sport & Hobby, Health & Beauty and Jewellery & Accessories.
Generation X, those aged 42-57, were the biggest bargain hunters and reported the highest increase in purchases compared to a normal day. The data also found that the North East, Wales and Northern Ireland were the regions with the highest increase in sales.
In addition, a survey with Klarna consumers reported that 73% of consumers are trying to make a larger share of holiday gift purchases during the Black Friday and Cyber Monday sales period this year.
The news follows the launch of Klarna's price comparison tool to help customers to "search less and save more".