Retailers are seeing more and more the benefits of consumer loyalty program, and Klarna has just become the first buy-now-pay-later service to launch such a program.
Called Vibe, Klarna's loyalty program is aimed to evolve the shopping experience to offer more convenience and value. Vibe is a no-fee program that will apply to all purchases made through the Klarna app or when using the service through a retail partner. Members will earn one "Vibe" point per dollar spent, which will ultimately be redeemable for gift cards to various retailers including Starbucks, Sephora, Foot Locker and Uber.
“We’re extremely proud to be the first company in the buy now, pay later space to offer a personalized rewards program,” Klarna CEO Sebastian Siemiatkowski said in a statement. “We’re laser focused on providing our nearly 8 million U.S. consumers with the most convenient, seamless and enjoyable shopping experience possible, from end to end, and the Vibe program builds on our efforts and success. Vibe members have the freedom to shop everywhere and will enjoy access to unique, tailored benefits from hand-picked partners in addition to exclusive offers, deals and other rewards.”
Vibe will roll out in the U.S. this month before extending to Germany, Australia, Sweden and the UK within the next year.