Klarna is looking to help retailers and brands beef up their content to drive consumer demand via the acquisition of Toplooks, an AI-powered technology company that offers “shoppable experiences.” The global payment and shopping service said the acquisition expands its suite of marketing products and services, which includes the Semtail/Shoptail — a price comparison technology company that Klarna acquired last December.
The financial terms of the deals were not disclosed.
Klarna said in a statement that its AI-driven content creation tools will “provide retailers with personalization capabilities and nearly unlimited shoppable content in native formats everywhere” through the “Klarna ecosystem, and across the wider internet, including social channels.”
By way of context, the company noted the “massive acceleration in e-commerce adoption” due to the COVID-19 pandemic, which is driving consumers to “now look for inspiration, personalized recommendations and flexible payment options in the places they consume content.”
Sebastian Siemiatkowski, chief executive officer of Klarna, said the “fundamentals of commerce are forever changed as more consumers forgo traditional retail store shopping for omnichannel commerce.”
“Now more than ever, it’s important for retailers to create fresh, engaging and curated experiences to drive engagement and unlock growth with customers,” Siemiatkowski said. “With the introduction of our enhanced marketing services, we can help retailers implement impactful and actionable programs to better connect with consumers across all channels.”
Klarna has more than 250,000 retail partners which includes brands such as H&M, Ikea, Expedia Group, Samsung, Asos, Peloton, Abercrombie & Fitch, Nike and AliExpress, among many others. The company said its retail solutions include “the ability to promote pay-later options throughout a customer’s shopping journey on a retailer’s own website or directly to Klarna’s 87 million consumers worldwide via its owned-and-operated network, using sponsored placements, curated Wish Lists, featured articles and dedicated CRM channels.”
With Toplooks and Semtail/Shoptail, dynamic comparison shopping services are now offered. Retailers and brands can use the services to list their Google Product Listings Ads “more efficiently,” Klarna noted.
British footwear brand Clarks has used Klarna’s services and is now using Toplooks’ “patent-pending AI shoppable content engine” for its marketing. Chris Hardisty, senior vice president of e-commerce for Clarks, said for nearly 200 years “the Clarks family has been making high-quality, stylish and comfortable footwear across the globe. As that very same world continues to shift to digital communications and online shopping, we are always seeking new and innovative ways to deliver relevant and engaging content to our customers.
“By using AI-powered Dynamic Ads technology, we have been able to achieve highly engaging sponsored ad campaigns on several social media platforms while also delivering significantly improved ROI,” Hardisty said. “These types of results have us excited about our continued partnership and utilization of the Toplooks technology, now that it is a part of core Klarna retailer offerings.”