John Lewis plans buy now, pay later offer
The John Lewis Partnership is looking to introduce a Klarna-style buy-now-pay-later (BNPL) service in the future, says CEO Nish Kankiwala.
Speaking exclusively to The Mail on Sunday, Kankiwala said: "I think we will develop a buy-now-pay-later product. Especially in the younger generation, people expect it."
The retailer currently offers BNPL across a selection of higher-priced home and nursery items.
However, it has not partnered with Klarna or any of its rivals to make the flexible payment option available across its wider product range.
John Lewis is also planning to introduce an interest-bearing credit option charging 16.9% on electrical goods bought online or through its app. It will then extend the offer to furniture and in-store purchases.
The news follows the John Lewis Partnership's £100 million agreement with Google Cloud to provide customers with more tailored and personalised experiences.
It marks the next step in the partnership’s digital transformation, hoping to take its retail experience to the "next level" both in-store and via digital platforms.