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Klarna and Saks OFF 5TH announce new payment plan partnership

By Robyn Turk

Nov 24, 2020

Retail

Saks OFF 5TH and Klarna have joined forces to offer customers of the luxury-value retailer access to buy now, pay later solutions at checkout. U.S. shoppers visiting the Saks OFF 5TH e-commerce site can opt to split their purchase into four interest-free payments through Klarna, increasing their convenience and spending power.

This partnership comes just in time for the holiday shopping season, which is expected to bring a surge to online shopping. Klarna's recent 2020 Holiday Retail Report, which analyzed industry trends and key consumer insights leading up to the holidays, determined that close to six out of ten shoppers expect the same level of customer service from retailers both in-store and online.

The addition of the buy now, pay later option at checkout allows Saks OFF 5TH to offer its online consumers a more seamless, customer-friendly retail experience.

"At Saks OFF 5TH, we continue to see great opportunity ahead with our digital business and are focused on identifying innovative ways to enhance our online experience for our customers," said the retailer's president and CEO, Paige Thomas, in a press release. "Our partnership with Klarna enables us to offer a more inclusive and convenient digital shopping environment, so our customers have easy access to the designer brands they love and trust with greater financial control."

Saks OFF 5TH plans to launch Klarna in stores in 2021.

Image: Klarna