Swedish payments group, Klarna, is set to launch new AI-powered tools that will revolutionize the way people shop online. The company aims to take on industry giant Google with its latest offering, which allows users to take a picture or scan a barcode to shop and compare prices across millions of items. Klarna’s shopping lens, available within its app, will enable users to take a picture of a product and search among 3.4 million UK-specific items to compare prices, retailers, and read reviews. In addition, a new search tool will be available for shoppers in retail stores, allowing them to scan barcodes for instant price comparisons and product information. These features, along with other expansions of its search and compare tools, solidify Klarna’s position as a key player in the retail industry.
The move sees Klarna directly competing with Google Lens in the shopping sector, with Klarna’s CEO, Sebastian Siemiatkowski, stating that he hopes to “lead a revolution in retail” with these advancements. By leveraging AI technology, Klarna aims to bridge the gap between the physical and digital worlds of shopping, ensuring that users have access to intelligence, context, and personalization.
This launch is part of a larger strategy by Klarna, which includes the rollout of its shoppable videos service across more countries and the introduction of an in-app cashback program. The shoppable videos feature, already available in the US, will now be accessible to Klarna’s app users in the UK, Germany, and Sweden. This allows customers to shop directly from videos created by brands and influencers. Furthermore, Klarna is offering a new cashback program in the UK, where buy now, pay later shoppers can earn up to 10% of their purchase amount, which can be used as a discount on their next purchase across a variety of brands.
These new services illustrate Klarna’s commitment to offering innovative and convenient solutions to enhance the shopping experience for its users. With the integration of AI technology and the expansion of its offerings, Klarna is poised to transform the retail landscape. As Siemiatkowski aptly puts it, “Just like the internet gave everyone access to information, AI gives everyone access to intelligence, context, and personalization.” Klarna’s vision of connecting human inspiration with computer-driven search capabilities has the potential to reshape the way people shop and discover products. With these advancements, Klarna is certainly taking steps towards revolutionizing the retail industry.
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