Klarna launches Comparison Shopping Service
Klarna has announced the launch of its new Comparison Shopping Service. This service offers retailers across Europe an increased customer reach. Klarna has also launched a comparison shopping page that offers brands the opportunity to reach browsing consumers with their products.
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Comparison Shopping Service has been launched in 21 markets across Europe. “With this new product, we enable retailers to list their Google Product Listings Ads more efficiently”, David Sandström, Chief Marketing Officer at Klarna comments.
Comparison Shopping Service has been launched in 21 markets across Europe.
Increase customer reach
Through Comparison Shopping Service, Klarna says to offer retailers a more effective and cheaper way to increase their customer reach and convert highly relevant traffic from consumers who are searching for products they want to purchase, thereby maximizing merchants’ return on advertising spend.
As Tech.eu explains: comparison shopping service providers can either make money through a monthly hosting fee and/or through charging for clicks (CPC model). Klarna doesn’t cut a percentage of a merchant’s CPC spend, instead it asks a monthly hosting fee. This means that if a merchant bids 1 euro for the top slot, it would only be worth 0.80 euro with Google, but the full 1 euro with Klarna.
Google has opened up Google Shopping
Many CSS partners work this way, ever since the European Union gave Google a penalty of 2.4 billion euros in June 2017. Google was forced to increase competition in the Shopping ad unit, which let to Google Shopping being opened to other CSSs to advertise on behalf of merchants in Europe. One of the ways Google did this was by offering up to 20 percent savings on CPCs for merchants who adopted a CSS partner.
In addition to facilitating the publication of Product Listings Ads on Google, Klarna will also list a retailer’s product listing inventory on the Klarna comparison shopping web pages, so retailers can further boost their product visibility and customer reach.
Available in 21 markets across Europe
Klarna’s new Comparison Shopping Service is available in Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Spain, Sweden, Switzerland, and the United Kingdom.