A new tool that compares prices across thousands of retailers has been launched by Klarna.
The company quietly rolled out the price comparison service in the U.S. a few weeks back, and is now extending this into additional markets in Europe.
In May, 10% of the workforce was laid off, followed by a second round in September. In between, there was news that Klarna had raised $800 million in funding, which was 85% lower than the previous year, a trend that has echoed elsewhere in the tech world.
Six months ago, Klarna acquired PriceRunner in a $1 billion deal. It said at the time that it would use the acquisition to power new features in the core Klarna app, including produce search and price comparisons.
It is an expansion of the service that allows consumers to purchase goods through third-party retailers in installments. The Klarna app will become a single shopping destination for finding the cheapest deals and paying.
The price comparison smarts allow customers to narrow their searches by criteria such as size, color, ratings, availability, shipping options, and more. Klarna shows shoppers historical pricing data, which shows how the cost has fluctuated over time, and whether they should buy now or wait to see if the price goes down.
According to the company, the tool is designed to be a credible alternative to other shopping services. The long and short of the case is that the search engine gave prominence to it's own comparison shopping service. This is the reason why Klarna wants people to know that its price comparison product is not biased.
"You could spend the whole day comparing offers at conventional search engines or marketplaces, but you'll always have doubts - have I really found the best product at the best price?" said Sebastian. larna's new search and compare tool does the hard work for consumers and compares thousands of websites in real time to ensure they have all the information they need to makeinformed and confident purchase decisions.
It bolsters the company's existing affiliate marketing programs and increases its potential revenue if it helps drive traffic and sales for its retail customers.
The company stated that the search and compare tool is a key acquisition channel for retailers. When it comes to attracting traffic to their websites, this provides retailers with a clear alternative to Google and Amazon.
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