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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.

Many financial apps, including Klarna, Revolut, PayPal, and a few others (e.g., X, the platform formerly known as Twitter), hope to become super apps. If they succeed in establishing full-service financial portals, consumers will likely spend more time in them, monitoring finances or even shopping marketplaces.

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:.

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.

Affirm and Klarna have yet to turn a profit, and sinking valuations further hurt performance. Zip made extensive cost cuts last year to stay afloat, including exiting markets and closing its money management app. BNPL providers will make two changes as the industry transitions to 鈥淏NPL 2.0鈥�:. Leading BNPL providers will try to build super apps.

More Chart of the Day:. 8/23 - Programmatic OOH watch. 8/22 - Gen Z鈥檚 social motivators. 8/21 - Buying into Klarna. 8/18 - Agencies in review. 8/17 - Marketing measurement mix-ups.

The report theorizes that Millennials and Gen Zers can鈥檛 tell a checking account from a payment tool because they鈥檙e used to paying with merchant apps, Apple Pay, PayPal, Klarna, and Venmo.

Klarna. Lloyds Banking Group. LTK. Nepa. PayPal. Savanta. Snap Inc. Toluna. The Retail Technology Show. YouGov.

While Big Tech behemoths Microsoft and Google raced to incorporate generative AI into their search engines, companies like Instacart, Shopify, Klarna, and streetwear company Snipes were experimenting with how the technology could be useful to the retail industry.

Today鈥檚 retail media networks fall into five categories: digital marketplaces or platforms (Amazon, Shopify, Etsy), mass merchandise or department stores (Walmart, Target, Macy鈥檚), category specialists (The Kroger Co., CVS, The Home Depot), commerce intermediaries (Uber, Instacart, Gopuff), and other commerce verticals (Expedia, Klarna, Marriott).

Klarna recently partnered with OpenAI to launch a ChatGPT plugin that offers curated product recommendations and links to purchase through Klarna鈥檚 search and price comparison tools. Generative AI for product search has the potential to replace existing search filters by allowing fashion consumers to make specific queries about exactly what they are looking for using natural language.

Providers like Afterpay and Klarna offer digital payment and financing options that aren鈥檛 tethered to card rails. Their popularity is mounting, with more than 2 in 5 US digital buyers (and nearly 3 in 5 Gen Z digital buyers) set to use the technology in 2023, per our forecast.

Here's again, you may think Klarna or Affirm has paid me to be here, but I want to point something out. So the OCC in December, this is the currency controller. It's a part of the Treasury department. It's a banking regulator. And they come out with guidance.

Well, what I mean is this, is that a buy now, pay later player like Klarna, which is seeing its own e-commerce reset, it wants that 80% pie too. How is it going to do that? Well, it can issue debit cards, for instance, so now that Klarna customer can walk into the store.

In 2023, more providers could roll out programs like Klarna鈥檚 rewards club, which lets customers earn points simultaneously with Klarna and with retailers鈥� own programs. Retail Ecommerce Payments. We forecast US retail ecommerce sales will grow at a low double-digit rate through 2026 as digital buying habits stick. Ecommerce sales will remain above $1 trillion for the second consecutive year in 2023.

In 2022, affiliate marketers鈥� interest started to rise in BNPL providers such as Klarna. In 2023, that interest is spiking, thanks in part to US consumers鈥� continued embrace of the technology: Nearly three in 10 US adults will use a BNPL service in 2023, up from less than 1% five years ago.

Australia was already a competitive market to operate in鈥攊t鈥檚 home to BNPL giants like Block-owned Afterpay and Zip, and other providers like Klarna and PayPal have also moved in. Combined with macroeconomic headwinds, this could have made it difficult for Affirm to grow its business in Australia.

Klarna. KPMG. Moveable. Ocado. Office for National Statistics (ONS) 鈥� UK.

Klarna. Motorway. OnePoll. Oxfam. PayPal. Similarweb. Toluna. Unidays.

Klarna. Portent. SaleCycle. Sapio Research. Scanbot. Sensor Tower. YouGov.

B) Klarna. C) Afterpay. D) Affirm. With $21.99 billion in BNPL payment value, according to our July 2023 forecast, Klarna would be the largest BNPL provider to integrate with Apple Pay. June 18, 2024. Banking big: Which is the largest commercial US bank by consolidated assets? A) JPMorgan Chase. B) Bank of America. C) Goldman Sachs. D) Wells Fargo.

This year will be a litmus test for trying new things. Payments incumbents that embrace change on their own terms will emerge stronger than before.

Yeah, it feels like a huge opportunity for Klarna, which really just felt strictly like a buy now, pay later platform even a year ago. Now feels like a whole shopping interface. Carina Perkins:. Absolutely. Sara Lebow:. Okay. Can I have another example of how retail is using generative AI from you, Carina? Carina Perkins:. Sure. So I'm going to talk about a brand here, so Coco-Cola.