Klarna, a buy now, pay later company, transfers its media operations to Havas North America in a new business partnership.
Klarna Partners with Havas Media Group North America to Boost U.S. Presence
In an exciting development, Klarna, the popular buy now, pay later (BNPL) company, has announced a partnership with Havas Media Group North America. This strategic move is part of Klarna's ongoing efforts to strengthen its presence in the U.S. market.
The partnership was announced following a review process managed by ID Comms, and Havas Media Group North America was selected to manage Klarna's media business. Greg Walsh, CEO of Havas Media Group North America, expressed his excitement about the partnership, stating, "We are thrilled to be partnering with Klarna, a pioneer in the BNPL industry."
Greg Walsh also stated his anticipation for the partnership in an email to Adweek, expressing his belief that the collaboration could potentially lead to increased visibility and marketing effectiveness for the company. Klarna's decision to partner with Havas Media Group North America could be a significant step forward in its mission to expand its reach in the U.S.
Klarna's consumer-facing app was launched in the U.S. in 2019, and since then, the company has been partnering with various agencies to boost its marketing activities in the U.S. The partnership with Havas Media Group North America is expected to contribute to Klarna's growth in the U.S. market, given Havas Media Group's expertise in media strategy and execution.
The pandemic has significantly accelerated the growth of BNPL companies like Klarna, Afterpay, and Affirm. The surge in e-commerce sales, which increased globally by about 25%, and the shift in consumer spending behavior created a larger market for BNPL services. Young consumers especially adopted BNPL for a wider range of spending categories during and after the pandemic.
The convenience of splitting payments without interest or credit checks made BNPL attractive amid economic uncertainty and job market concerns during the pandemic. However, the increased usage also raised concerns about consumer debt and repayment challenges. Despite these challenges, BNPL firms like Klarna benefited from the pandemic-driven digitization of shopping and consumer reliance on flexible payment options, fueling their growth and market penetration.
Established in 2005, Klarna is a Swedish BNPL company that offers services in over 17 countries. The company's partnership with Havas Media Group North America is a testament to its commitment to expanding its presence in the U.S. market and providing consumers with a seamless and flexible payment experience.
In conclusion, the partnership between Klarna and Havas Media Group North America is a significant development in the BNPL industry. The collaboration is expected to boost Klarna's marketing activities, contribute to its growth in the U.S. market, and further solidify its position as a leading player in the BNPL space.
- Klarna's partnership with Havas Media Group North America signals a strategic focus on bolstering its presence in the U.S. market, a key component of its business expansion.
- Leveraging Havas Media Group North America's expertise in media strategy and execution, the partnership aims to enhance Klarna's visibility and marketing effectiveness, thereby driving growth in the technology-driven finance sector.
