Η Klarna, the world's leading AI-powered payments and shopping service, published the survey “Shopping Pulse Report 2023» for the 3rd quarter of the year, highlighting the latest consumer trends and behaviors in the Greek market
In collaboration with the research company NepaThe Klarna conducted research involving more than 16.000 consumers from 16 countries, including Greece. According to the survey data, Greek consumers choose services Buy Now, Pay Later (BNPL) versus using credit cards.
The key points of Klarna's "Shopping Pulse Report 2023" survey for Greece:
1. The Buy Now, Pay Later preference: In Greece, the 53% of consumers states that they would choose BNPL services for interest-free installment payments, and the 32% that he would prefer to use a credit card. In addition, 60% of Greek consumers consider it useful to be able to pay for an expensive product in equal installments, without additional costs or interest. With the service Pay-in-3, Klarna offers consumers this option, i.e. to be able to pay in 3 interest-free installments for online purchases and in physical stores. Globally, among the 16 countries surveyed, 14 prefer services BNPL extension against credit cards.
2. Online shopping continues to grow: More than a quarter of the Greek consumers who participated in the survey (29%) shop online at least once a week. Of all consumers in Greece, half buy mainly clothing and footwear, both online and in physical stores. The majority of consumers (52%) prefers to shop using the mobile phone, while the 43% selects the computer. Greek consumers cite lower prices as the main advantages of online shopping compared to in-store shopping (86%), the ability to compare prices (86%), saving time (89%), the widest range of products (79%), the best information about the products (62%) and the widest variety of payment options (72%).
3. The power of price comparison: The rise of online shopping has made price comparison tools more accessible, allowing consumers to find the best deals between online stores. In Greece, the 97% of consumers compares product prices from various merchants before making a purchase.
4. Consumer expectations for innovation in commerce: An overwhelming 94% of Greek consumers believe that retailers must constantly invest in new technologies to respond to developments. Personalized service, personalized product recommendations and easy transactions top the list of investments that participants rate as most important. Responding to the needs and expectations of consumers, the Klarna has recently launched new services based on AI technology, including Shopping feed with personalized recommendations to users, as well as Shopping lens, an AI-powered image search service that allows users to take photos, search and shop anything around them. These services are currently available in a few countries, with the aim of expanding to new markets in the future.
The figures highlight the growing popularity of the services BNPL extension in Greece, where 53% of consumers now prefer flexible payment options over traditional credit cards. With the service Pay-in-3, Klarna offers consumers the option to pay at 3 interest-free installments, save time and money, be informed and in control of their finances., he said Ilias Pitsavos, Head of Klarna in GREECE.
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