Consumers stuck in their homes due to COVID-19 are focusing on comfort and personal accessories.
According to analysis of transactions made through payments provider Klarna, the volume of e-commerce transactions in the furniture and jewelry categories among consumers who use the Klarna payment app increased 60% week-over-week in the week ending Saturday, April 25.
Klarna app-enabled transactions at furniture stores had been trending upward since the coronavirus outbreak hit the U.S. Stores that sell musical instruments and electronics stores both saw average daily transaction volumes rise by 37% in the week ended April 18. Other retail categories seeing substantial week-over-week boosts in average daily transactions made via the Klarna app the week of April 18 include sporting goods (up 17%) and craft (up 16%).
“With millions of us still under some kind of quarantine in the US, many consumers appear to be upgrading their furniture and looking to make their living spaces more comfortable,” said David Sykes, Head of US at Klarna. “Our recent data also show that people seem to be looking for creative diversions to keep them occupied at home.”
In the U.S., the company saw its second-highest weekly transaction volume ever on the Klarna app, which enables consumers to shop at any online store, during the week of April 12-18; only the week of Black Friday 2019 saw higher volumes of transactions made through the app.