Have you heard, Klarna acquired HERO, which means that Klarna merchants will now be able to experience the very best of social shopping? For 90 million consumers, the latest update for online shopping is now available at their fingertips.
If you haven’t heard the buzz, HERO is a retail tech startup whose purpose is to connect online shoppers with in-store retail associates via; text message, video and/ or online chat room. HERO is the next natural step forward in the world of ecommerce, as store employees will now be able to connect with their customers on a closer level than ever before.
How you may ask? By answering questions, offering professional advice as well as supplying product reviews that are set in place to assist potential buyers with purchase decisions.
Valued around $160 million as told by The Wall Street Journal, Klarna will ensure that HERO is made available for all of its retail partners so that customers can enjoy the ultimate customer experience before they buy with Klarna.
The Benefit of HERO for Klarna Merchants
The fact that Klarna merchants will now have HERO access is a huge deal, as this form of technology could enable retailers to strengthen their relationship with customers online significantly. So naturally, this makes Klarna even more attractive as a BNPL partner for merchants, thus creating a larger surplus of customers who may choose to buy with Klarna in the future.
Providing a good experience is more important than ever, as many customers have expressed that firms in 2021 do not currently meet their expectations for service, which means that there is plenty of room for improvement where customer satisfaction is concerned.
For instance, 59% of consumers in North America feel that businesses from which they purchase goods could work to improve the customer experience offered. If you feel like your business could receive this kind of feedback from your customers, never fear because solutions like HERO are here to help Klarna merchants offer their customers valuable brand and product insight.
Think of it this way, in the world of online shopping, things have come so far with the evolution of technology and yet the way to a customer’s heart is by providing a positive journey from the very beginning. Think of what a business could do with both Klarna and HERO at its disposal. Customers wouldn’t be able to ask for anything more, as they’d receive that same level of support online as they would if they were to walk into a physical store.
We’re sure that you’ve guessed by now, but this is a significant stepping stone in closing the gap between brick-and-mortar and ecommerce. Perhaps the customers who experience the revelation of HERO will be much more likely to buy with Klarna and take advantage of its flexible payment schedule.
In hindsight, having such an array of support available for the modern-day consumer can only lead to one thing and that is setting high standards. The real question is, why shouldn’t customers have high standards when shopping online?
See, businesses are constantly pushing the limits and looking for ways to be better in everything that they do. Online shopping has many advantages but of course, it is the job of technologies such as HERO to step in and fine-tune the areas where there is room for improvement.
Inevitably, this type of support can be the difference between a completed or lost sale. A whopping 40% of US shoppers say that knowledgeable brand representatives are the most fundamental element for a positive customer experience (according to Bizrate Insights) and in all honesty, this does make a lot of sense.
Think about it, if you experienced a flawless service with HERO, would you want to shop elsewhere and receive a mediocre service? We know what we’d do. We’d stick with Klarna merchants all the way and we bet that those who buy with Klarna would agree with us too.
Support for Klarna Merchants & Partners
Giving Klarna merchants this level of support will surely fortify existing partnerships, while merchants using HERO will be able to avoid extra spending on customer experience personnel. Instead, businesses will now be able to utilise their in-store staff to support customers who are visiting their business online.
From a company perspective, with technology like HERO in their armoury, businesses should take advantage of maximising existing resources, with the intent of improving bottom lines with increased online sales. This is of course outstanding news and is quite the revelation for the 250,000 Klarna merchants in existence, as this service may urge consumers to walk the tightrope of consistent customer experience that other BNPL providers do not offer.
Maintaining merchant relationships is critical for Klarna, as the company generates much of its revenue from the fees charged to retail partners.
The Future of Klarna and HERO
We’re sure that you won’t need us to tell you this, but Klarna has made several acquisitions in the past year to enhance the customer experiences using online merchants across the board. Bringing in HERO furthers that push and makes Klarna a stronger competitor in the BNPL space.
We here at Karmoon believe that HERO could be one to watch when it comes to opening up revenue-generating opportunities if merchants were charged for services like this in the future.
Well, that’s it for today’s article, as we’ve covered the latest news on HERO, the new technology acquired by Klarna. If you’re actively looking to work with a Shopify agency designer or developer to assist you with your business, we’d love to hear from you. Get in touch to get started!