Buy now, pay later services (BNPL) have grown in popularity over the past few years, but there is still a way to go before they achieve full market saturation. In an effort to reach consumers across America, payments platform Klarna will launch its first Super Bowl advertising campaign starring Maya Rudolph on February 7.
Solutions like Klarna enable shoppers to pay for their purchases in four installments, while receiving their items after the initial payment. Installments are interest-free and paid out every two weeks, allowing consumers to budget without relying on traditional forms of credit. These BNPL solutions have been particularly popular with younger shoppers, who are more likely to avoid credit cards; data shows that only 1 in 3 millennials has one.
The Super Bowl campaign centers around the perfect pair of cowboy boots. Maya Rudolph plays four cowboys, each in a complementary color and style, who band together to secure the coveted pink boots. Each cowboy pays one of the required installments on their smartphone, with the multiple Rudolphs able to immediately obtain their desired footwear.
“As a brand and business we’ve always stood at the crossroads of culture and commerce,” said David Sandstrom, CMO at Klarna. “This event represents one of the biggest cultural and sporting moments of the year, and our involvement is an exciting milestone for Klarna. As our phenomenal growth in the US has shown, consumers are looking for a better way to shop and pay, so we’re excited to showcase how Klarna delivers that in ‘The Four Quarter-Sized Cowboys’.”
The Super Bowl is one of the most popular events in the U.S. cultural calendar and is particularly known for the special ad campaigns that launch during the game. Klarna will release their advertisement in the fourth quarter, again playing on the idea of the four payment installments.
This is the latest development in a series of milestones for Klarna. The company reported an average of 60,000 new daily downloads throughout December 2020; it now counts 15 million U.S. users and 6,000 U.S. retail partners.