Welcome to Klarna’s Money Management Pulse!

Technology has changed the way people manage their everyday personal finances. Checking your account balance is no longer a chore, and payments happen in the blink of an eye without any physical cash transactions. Yet some habits remain, and preferences shift heavily across generations and the globe.

In this report, you’ll find a pulse check on money management habits in a selection of countries around the world.

Happy exploring!


Insights from Klarna’s consumer research, conducted in cooperation with Nepa across 18 countries (the US, UK, Australia, Germany, Austria, the Netherlands, Belgium, France, Sweden, Norway, Finland, New Zealand, Italy, Poland, Portugal, Spain, Czech Republic, Greece). The research is conducted quarterly and always includes a minimum of 1,000 respondents in each country.

In total, 19,293 consumers participated during Q2 2023 (April-June). The sample sizes are nationally representative, naturally including both Klarna users and non-Klarna users, and have been selected by research agency, Nepa.

18 countries

19,293 consumers

High interest in personal finances.

It’s a pattern seen across generations. However, Millennials express the highest interest—which correlates with their frequent interactions with financial services.

Millennials high interest for personal finances stands out.

The difference between Millennials and other generations is greater than the gender gap in all countries. As a matter of fact, across the 18 countries featured this report there’s only three where another generation expresses a higher interest.


have the highest overall interest in personal finances compared to younger and older generations.


has a bigger impact than age in many countries. Men express a higher interest in personal finances than women, and the gap is highest in Sweden. The only countries where women express a higher interest than men are Norway, Portugal, and Greece.

Money is still a delicate topic.

Many underline the importance of being able to talk about personal finance and ones economic situation with others for the same reasons we talk about most things; to ease our minds and get input from others. Turns out most people are comfortable talking about money, but many still avoid the subject.

Most people feel comfortable talking about money.

On a global level, most people feel comfortable talking about money, but there’s still a significant group that doesn’t.

1 in 2

Almost every other person (47%) state that they feel comfortable talking about money.


of Swedes feel comfortable talking about their personal finances and money with friends and family. That is more than twice as many Finns that feel comfortable doing the same (30%).

..but many still avoid the subject.

When asked how often people talk about money with friends and family, most people state that they do it at least once a month, one in four even claim that they’ve talked about it during the last week – but at the same time, there is a equally big group that never talks about money with others.

1 in 4

never talks about money with other people.

1 in 3

Spain and the Czech Republic represent the countries with the biggest share that avoids to talk about money with others. Every third person in the respective countries state that they avoid the subject.

We turn to social media for information on personal finance.

In a time when social media influences many aspects of most people’s lives, it does not come as a surprise that social media is a common source that people turn to for information on personal finance.

1 in 5

turn to social media for information about personal finance.


of Americans look at social media for information about their personal finances. It’s the biggest share out of all countries.

Cash is no longer king.

Our increasingly digitalised society also means preferences for payments in physical stores are evolving. In fact, only 2 out of the 18 countries covered in this report have a population preferring cash.

Innovation introduces new habits.

Gen Z’ers’ preference for digital devices like smartphones and smartwatches means neither hard cash or physical cards soon wont have a natural place in their pockets. And with smartwatches on the rise, and biometrics on the horizon, much is likely to change in this space in the near future.

Physical cards growing old

The generation’s preference for physical cards grows bigger with age, while the preference for cash splits relatively evenly in comparison.

Digital overtaking cash

There’s a distinct generational differentiation between physical cards and digital devices like smartphones and smartwatches. Gen Z’ers have a higher preference for paying with smartphones or smartwatches than with cash in all countries, with just one exception.

Mobile phones > cash.

The smartphone revolution has enabled new and innovative means to pay, and digital means of payment have become preferred over cash on a global average.

14 out of 18

More people now prefer mobile phones over cash for in-store payments in the vast majority of countries featured in this report.

Contrasting payment preferences across countries.

The difference in payment preferences gets even clearer when the countries are placed next to each other in the index.

Cash remains royal in DACH

Germany and Austria stand out with a high preference for cash compared to the other countries. On the other side of the coin, consumers in Nordic countries seldom use cash and prefer physical payment cards to a much higher extent.

Cash in pocket.

How thick a shoppers’ wallet is varies across countries, and it’s clear that inflation and increased cost of living has had a significant impact on the amount of disposable cash during the past quarter—despite the fact that digital payments has continued to rise in popularity.

$203 is the average amount of cash in Americans’ wallets, the most out of any country. That’s twice the global average and 4 times the amount found in Swedish wallets.

Cash withdrawals.

Until alternative payment methods become universal, cash will still be relevant. And there will be a need to access funds before payment can be made.

Cash withdrawals are naturally more frequent in countries with a higher preference for cash. Still, they don’t scale with preferences—which may indicate unplanned withdrawals for consumers who would have preferred to pay otherwise.

Younger generations tend to withdraw cash more often despite preferring to pay with digital devices, indicating that availability is not meeting the demands.


The average American withdraws cash more than 3 times as often as the average Swede.

Digitalization is changing the way people bank.

All over the world, well-established banks are closing down their physical banking locations as consumers increasingly interact with their funds digitally. At the same time, neo-banks are challenging incumbents with a digital-first approach for specific banking services.

Innovation introduces new habits.

The smartphone revolution puts the bank office in your pocket, accessible at all times. Everyday financial services moved from physical offices to personal computers a long time ago, and in most countries they have continued to transition from computer browsers to mobile apps.

5 out of 5

It’s more common to use a mobile app for 5 of the most frequently recurring financial services.

Mobile banking on the rise.

New and innovative mobile apps are offered by both the established banks and the challengers. Meanwhile, consumers have become increasingly tech-savvy.

Mobile and tablet

usage for financial services is generally trending upwards worldwide. This is especially true for activities such as checking one’s account balance and money transfers. Meanwhile, the usage of computer browsers is trending downwards across the world.

Digital banking around the world.

Thanks to the increased availability of innovative digital solutions, higher tech-savviness, and raised interest in personal finance—the way people bank is changing. Still, the pace at which it’s all evolving varies across demographics.

All generations except Baby Boomers

are mobile first, using apps and browsers on mobile devices. Baby Boomers more often use computers to access banking services.

Younger generations interact with banking services at a higher frequency.

Mobile banking increases accessibility to services, enabling less financially experienced consumers to retain better control over their money.


interact with financial services more often than others, across all activities measured.

Younger generations

use financial services more often, especially for transferring money and managing their savings. The youngest people in the US and Spain manage their savings twice as often as their peers in Greece, Czech Republic, Finland and Austria.

Budgeting made simple.

Budgeting doesn’t have to be a headache. With the help of digital tools, consumers can easily take control of their finances, save money, and track expenses to keep their spending in check.

Budgeting habits.

Younger generations are more likely to establish a budget before spending their income. This habit helps them achieve financial stability and avoid overspending, ultimately leading to a more secure financial future.

3 out of 4

Gen Z’ers and Millennials set a budget.

Keeping their spending in check.

The vast majority of consumers already use, or want to use, a mobile app to manage their spending. With easy access to budget tracking and expense monitoring, these apps are becoming an essential tool for those seeking financial control and stability.


The younger generations are three times as likely to already use a mobile app to help them manage their spending.

Budget-savvy consumers seek innovative services.

Consumers are eagerly embracing new solutions that help them take control of their finances. As more and more consumers prioritize financial control, the emergence of smart digital money management features is expected to revolutionize the way people approach saving, making it easier and more accessible than ever before.

Attitudes to savings.

When it comes to saving money, differences are not as evident in the share of income saved but in what people choose to do with that money. The most significant differences are found in attitudes around investing money to grow funds with the risk of seeing them decline. Here’s how consumers all over the world go about their savings and investments.

8 out of 10 save money.

Across all countries and generations, the vast majority of consumers are consistently saving money.


save money from their income in the wider global population. Gen Z’ers (87%) and Millennials (89%) are the most frugal generations.


is the average share of income saved. Gen Z’ers (16%) and Millennials (16%) allocate money for savings to the highest extent.

Save in a bank account. Or invest.

The attitudes towards utilizing various investments to grow savings or keep money in a bank account are shared across generations. But not across countries.


has a bigger impact than age, and men invest at a higher rate than women in all countries except for in the US.

Country of residence

has an even bigger impact. The difference between the share of the population saving money in bank accounts and those investing is highest in the UK, France, the Netherlands, and Greece.

Stocks, bonds—or cryptocurrency.

There are numerous ways to invest for those willing to do so, each with its potential upsides and risks.


are the most popular form of investment in every country except Germany, Austria, France, Italy, Sweden and Greece, who instead prefer mutual funds and ETF’s.


Men are twice as likely to invest in cryptocurrencies than women.

Environmentally sustainable investments are in-demand.

Growing money—while promoting planet health. The majority has considered investing in companies with an environmentally sustainable profile.

1 in 2

have actively chosen to invest in environmentally sustainable companies, and 1 in 3 have considered it but not yet done so. Only a minority say that they choose the investment product that will yield the highest returns, regardless if they are sustainable or not.

Saving for a rainy day—or a sunny place.

The most common reasons for saving differ across generations, and depending on where you live.


Baby Boomers are more than twice as likely to be saving money for the purpose of having a buffer for unforeseen expenses compared to Gen Z’ers.


Gen Z’ers are instead primarily saving to afford a vacation or house or apartment as a primary residence. They are 6 times more likely to do that compared to Baby Boomers, 3 times compared to Gen X’ers and slightly more likely than Millennials, who represent the generational tipping point between primarily focusing on building a rainy day fund and entering the housing market.

A bright future.

People across the world are optimistic about their future financial outlook—and more people believe they will be in a better place in the near future.

Most have a positive outlook.

And it’s especially the young who believe their financial situation will be improved.

And that’s that.

Klarna’s Money Management Pulse insights are updated quarterly, so stay tuned for future updates.

Thirsty for more knowledge?

Make sure to check out the other reports that are available at Klarna Insights!

Welcome to Klarna’s Shopping Pulse!

3 years after the pandemic, an event that accelerated the digital transformation with unprecedented pace, shoppers continue to turn online, having formed new habits that persisted beyond restrictions and lockdowns. Many retailers have pivoted to evolve their online presence to meet new shopper expectations. But does this mean physical stores are irrelevant? Not at all. Our research shows physical stores still play an essential role for shoppers. That said, many people anticipate they will shop online even more often in the future.

In this report, you’ll find a pulse check on shopping habits worldwide.

Happy exploring!


Insights from Klarna’s consumer research, conducted in cooperation with Nepa across 18 countries (the US, UK, Australia, Germany, Austria, the Netherlands, Belgium, France, Sweden, Norway, Finland, New Zealand, Italy, Poland, Portugal, Spain, Czech Republic, Greece).

The research is conducted quarterly and always includes a minimum of 1,000 respondents in each country. In total, 19,293 consumers participated during Q2 2023 (April-June). The sample sizes are nationally representative, naturally including both Klarna users and non-Klarna users, and have been selected by research agency, Nepa.

18 countries

19,293 consumers

150m consumers

500,000 retailers

Online shopping data.
Insights from Klarna’s shopping data. Klarna serves more than 150 million consumers and 500,000 retailers.

Digital transformation in retail.

Online shopping has accelerated with unprecedented pace over the past couple of years. And there are no signs of the digital transformation slowing down. Shoppers’ preferences for online shopping continue to increase.

Online shopping continues to rise.

Shoppers globally are growing increasingly fond of online shopping. Many retailers continue to step up their digital offerings and make their online offering more appealing. Younger generations prefer the online shopping experience while their older peers are trending in the same direction as they grow increasingly tech-savvy.

The chart illustrates consumers’ mindset regarding the extent they prefer to shop online and in physical stores.

Online shopping

is preferred over physical stores by the majority in the US, UK, Germany, Sweden and Italy.

Rapid online growth

All countries covered in this report have increased their online shopping preference since the tracking started, and the aggregated global value increases steadily quarter over quarter.

If the current trend continues, the global index will shift from mostly in-store to mostly online during 2023.

Where shoppers would do most of their shopping if they could choose freely.

The charts below show how shoppers in each country would choose to split their shopping between online and in-store. The remaining population has a neutral preference.

Where shoppers are currently shopping.

Physical stores are still the norm and consumers still visit them more frequently despite the growing preference for online shopping.

While some retail categories are shopped more often online, physical stores still see certain product types are bought more often in person. The biggest differences are found across some of the most commonly bought categories, indicating an opportunity for disruption, as online shopping’s main drivers are convenience and the ability to save time.

The charts below show the percentage of shoppers in each market who have shopped online and in physical stores respectively at least once a week – and what categories have been shopped on a monthly average.

Traditional offline categories ripe for disruption.

Online shopping means people can access offers from all over the world, regardless of whether they are in a major city or the countryside. Still, some products appear more available than others.

The chart illustrates consumers’ mindset with regards to the extent they prefer to shop online and in physical stores.

Rapid online growth

Children products and Clothing & Shoes have had the biggest increase in online shopping preference over the past two years.

Digital disruption

Groceries, Pharmaceutical products, and Home & Garden, which are the most preferred categories to shop in physical stores, have steadily increased their online shopping preference over the past 2 years.

Attitudes towards online and physical stores.

Shoppers’ choice heavily depends on whether they are looking to save time and money—or whether they are looking for better social interaction and customer service.

Younger generations think they get better social interaction online to a higher extent. This correlates with being more likely to purchase items seen on social media.

Saving time & money

are the two main perceived benefits of online shopping.

Better social interaction & service

are the two main perceived benefits of in-store shopping.

Bridging the gap between the digital and in-store shopping experience.

The vast majority of consumers would find it useful to be able to speak with store clerks or product experts when they shop online to get real-time assistance and guidance while making their purchase decisions. A bit like having your very own personal shopping assistant at your fingertips, providing the same level of service you would expect in-store.

Technology investments are a must.

Today’s shoppers are looking for innovative solutions that give them a better shopping experience. These are the main focus areas for online and physical stores, according to shoppers themselves.

Frictionless payments

is the most wanted improvement across all countries—both online and in-store.

Personalized service and product recommendations

are next on the wishlist, followed by a seamless transition between online and physical stores.

Virtual and augmented reality (VR/AR)

is more anticipated for online shopping than in-store.

Online shopping habits.

Online shopping has evolved into an integral part of retail; it has become a natural part of the everyday life of consumers. Data from Klarna shows when and where shoppers all over the world shop and how their favorite products shift across regions.

The online shopping map.

Select a country in the list below to see where people shop the most online per capita, where online shopping is growing the fastest, and how the most commonly bought products shift across regions. The data is from January 1 – March 31, 2023.

The index for “Favorite Products” is calculated in relation to the national average, and does not necessarily reflect the products that are most often bought overall—but most often in comparison with other regions in the same country.

An average online shopping day.

The most prominent perk of shopping online is how it can be done any time, from any corner of the world. It can be both a time saver and a convenient way of getting access to products not in stock in your local physical store. Most online purchases take place late in the evening, often in the comfort of shoppers’ own homes.

The chart below illustrates how purchases are distributed during an average day. The data is from January 1 – March 31, 2023.


are the most popular time to buy for older generations. It’s also the peak hours for desktop computers.


are the most popular time to shop online in most countries. And this is when mobile shopping increases the most.

Night time

is when the share of mobile phones increases further and consumers, to a higher extent, opt for payment methods that don’t require them to type in physical card credentials.

An average online shopping week.

While the way shoppers distribute purchases during the day is universal, the most common day to shop varies much more clearly across countries.

The chart below illustrates how purchases are distributed during an average week. The data is from January 1 – March 31, 2023.

The pandemic outbreak

immediately caused a shift in consumption patterns all over the world, temporarily making the share of purchases during weekdays. This effect was short lived, and shopping patterns soon returned to normal with most purchases taking place late evenings.


The most preferred day to shop in the US is Friday.

Evolving payment preferences.

Payments are a fundamental part of the shopping experience that continues to evolve with emerging preferences driven by technological innovation.

The rise of Buy Now, Pay Later.

Shoppers all over the world are turning to Buy Now, Pay Later to an increasingly higher extent. In fact, there is only one country featured in this report in which shoppers prefer credit cards over Buy Now, Pay Later.

17 out of 18

The preference for Buy Now, Pay Later is higher than credit cards in 17 out of 18 countries. The only country in which most shoppers would opt for a credit card over BNPL is the US, and it’s close.

Try before you buy.

Shoppers think that being able to check the goods and pay after they have decided if and what to keep is the main benefit with BNPL. No physical store would require shoppers to deposit a payment before they touch, feel, and try the goods, and only reimburse their shoppers a few bank days later if they didn’t end up buying it. With that in mind, it’s not surprising that shoppers turn to retailers that bridge that gap in the online shopping experience—and enable them to turn their living rooms into fitting rooms.

Almost 1 in 2

of global shoppers prefer to pay for physical goods after the delivery has arrived.


would be more positive towards buying from an online store that offers the possibility to get the products delivered before having to pay.

Paying later as a security measure

Feeling safe is one of the most important things for online shoppers. When asking people what makes them feel safe when shopping online, known retailers and payment services top the list – however, almost every other person also considers the possibility to pay efter receiving the goods an important security measure. Something both authorities and fraud experts agree with.


feel safer when the online store offers the possibility to pay after the delivery arrives.


choose to pay after they have received the goods to feel safer when shopping at a new online store.

Sustainability-minded shoppers.

A significant share of shoppers are looking for brands and retailers to act in a more sustainable way. Adhering to this calling can boost businesses from compliance to competitive advantage.

Sustainability-minded shoppers actively seek out brands and retailers that share their values.

The importance for brands and retailers to act in an environmentally sustainable way is deemed as important across generations. Millennials are however over-represented when it comes to everything from taking the environmental impact of delivery options into consideration when shopping online, to seeking out brands that are ethical and sustainable to a higher extent.

1 in 3

consider it important that brands act in an environmentally sustainable way.

1 in 4

actively seek out brands that are ethical and sustainable.

Top priorities.

The majority of shoppers that take environmental impact into consideration are looking for information that helps guide their purchase decision, including both environmental and social impact of the business.

2 in 5

want retailers to have fair labor conditions across their supply chains and use recycled or sustainable material in their production.

The product categories where we look for sustainable options.

It’s apparent that sustainable options is of different importance depending on what we are buying. Most people think it’s most important to consider sustainable options when shopping for clothes and shoes, electronics and groceries – but not as important when looking for jewelery or erotic products.


of greek shoppers are looking for sustainable options when shopping for beauty products, that is almost twice as many compared to the global average (16%).

1 in 2

Finns look for sustainable options when shopping for electronics, to compare with the global average of 39%.

Social shopping on the rise.

Social media, influencers and social shopping solutions have increased engagement, discovery, and more informed purchasing decisions—particularly among younger generations.

Digitalization of shopping.

The shopping discovery path is shaped in different patterns across countries and generations but one common unifying factor is the tendency to rely on digital channels to an increasing extent.

Followers become buyers.

On average, 39% of shoppers have purchased a product after seeing it on social media. And more than half of them did it directly from the platform.

Social channels to shopping discovery.

After discovering it on social media, purchasing a product is becoming common in all consumer groups—and especially among younger generations. These are the type of accounts that have the highest chance of inspiring shoppers.


have a bigger impact than retailers on Gen Z, and the opposite is true for older generations.


have a higher impact than influencers in most countries. The Netherlands, Belgium and Poland being the only exceptions.


have the highest following on a global average.

Social media climbers.

Social media has made it easier than ever to discover new trends and items. Shoppers find both inspiration and shopping opportunities.


is more popular than Facebook for Gen Z in every country, with the Czech Republic being the only exception.

Facebook, Instagram and Youtube

are the most popular platforms for Millennials with some local differences.


is the overall most popular platform for Gen X’ers and Baby Boomers.

Static images > video content.

With the rise of social media and the content development that has followed, people have become more and more accustomed to consuming and shopping video content, yet static images are still the preference.


of global shoppers prefer to shop static images over video content.

Benefits of video content.

Those shoppers who prefer video content think that the main benefit of shopping from video content compared to static images is that they get a better understanding of how the product fits and/or functions and helps them make a more informed purchase decision.

1 in 2

think that video content gives them a better understanding of the product than static images.

Shop smarter with price comparisons.

The thrill of finding a great deal is a feeling that transcends cultures and borders. With the rise of digital retail, bargain hunting has been revolutionized, giving consumers unprecedented access to price comparison tools that allow them to find the best possible deals.

The power of price comparison.

Price comparison is a widely adopted practice by consumers globally. The rise of online shopping and smart shopping services has made it even more accessible to compare prices across retailers. It’s a crucial tactic for making informed purchasing decisions and getting the most value out of every dollar spent.


of consumers compare prices, and the majority (55%) do it often.

The modern way to hunt for bargains.

Gone are the days of physically searching for bargains. The digitalization of retail has revolutionized the way consumers hunt for deals, making it easier and more convenient to compare prices across different retailers. By leveraging technology, consumers can save both time and money when shopping, all from the comfort of their own homes.


is the most popular way to compare prices across stores across all markets.


is the only country where consumers use price comparison services more often, instead of browsing online stores to compare prices.

One app to compare them all.

In today’s world of online shopping, consumers are looking for ways to save both time and money. These are the features that consumers would want in an app that allows them to compare products and prices across multiple online stores, all from the convenience of their own device.


want to compare prices across retailers.

A scattered delivery experience.

Along with the evolution of online shopping, the delivery experience has evolved with it and the number of delivery options have increased. However, across almost all markets, many shoppers still consider the delivery experience to be somewhat scattered with room for improvement. The need to gather information about all deliveries in one place is the biggest pain according to consumers.

Home delivery is preferred.

When asked about preferred delivery options, the majority of global shoppers agree that delivery to the home or workplace is their number one choice. But preferences between different countries differ which is probably due to local delivery infrastructure and the availaibilty of delivery options in the different countries.


want their online purchase to be delivered directly to their home or workplace.


Twice as many in the Nordic countries prefer to get their purchases delivered to a grocery store or postal office compared to the global average.

1 in 2

polish shoppers prefer to pick-up their deliveries from a unmanned parcel box, that is five times as many as the global average (10%).

The delivery experience is scattered.

Shoppers express a desire for a more streamlined delivery experience when shopping online. Many find it a hassle to manually having to search for information about their deliveries in different places.

1 in 4

think that the biggest pain point when it comes to online deliveries is that they have to manually search their email inbox for confirmation and tracking numbers.

A smoother delivery experience.

To solve for some of the main pain points that shoppers currently experience with their deliveries when shopping online, a majority would like to gather all their deliveries in one place.


would like to be able to track all their deliveries in one place.

Mobile shopping online and in-store.

As smartphones and tablets continue to take screen time from computers, mobile devices are expected to play a central role in the continued digitalization of retail.

Mobile shopping is now the most popular way to shop online.

Preference for mobile has now overtaken shopping on other devices and is now the most preferred device for online shopping, before computor and tablets.

Increasing mobile preference

All countries that had a recorded preference below 30% in 2021 have shown a clear trend for increasing mobile preference at the expense of computers. Today, no country has a mobile shopping preference lower than 30%.

Majority of mobile shoppers

Only 6 out of 18 countries have a majority of shoppers with a higher preference for computers than mobile devices.

The in-store shopping journey begins online.

The digital shopping revolution doesn’t only mean that people are shopping more online. Online research, also called “webrooming,” plays an important role throughout the in-store shopping journey. For the majority of people, a trip to the mall starts before they arrive.

The chart below illustrates the percentage of in-store shoppers who usually research online before shopping in physical stores.


are sometimes (or often) researching online before they go in-store, out of which:


do it often.

Smartphones have forever changed the in-store shopping experience.

Even when shoppers are physically in-store, they are also online, using their phones to compare competitive prices and offers and to check product reviews and testimonials to make sure they have found the right product.

The chart below illustrates the share of in-store shoppers who say they use their smartphones to research products when shopping in physical stores.


are sometimes (or often) using their smartphones in-store, out of which:


do it often.

A year from now.

Over the past 2 decades, online shopping has pivoted from something for early adopters and enthusiasts to the preferred way to shop for people all over the world. Technological innovation will continue to marvel and excite, retailers will continue to improve their digital offering, and the digitalization of retail will continue to shape the future of shopping.

Predictions for the future.

There’s still a general belief that the majority of shopping will be done in physical stores in a year’s time—but preferences are quickly shifting.

This chart illustrates the share of shoppers believing they will make the majority of their shopping online or in physical stores respectively.

And that’s that.

Klarna’s Shopping Pulse insights are updated quarterly, so stay tuned for future updates.

Thirsty for more knowledge?

Make sure to check out the other reports available at Klarna Insights.