France is the third European market for e-commerce and its sales have been strong in recent years. According to a Visa Digital Payments report, the number of French people regularly using a mobile device for payments has tripled since 2015.
Instant payment and alternative payment options are on the rise, and they have continued to gain popularity across France as consumers turn to more convenient ways to pay. One-click delivery is an important feature of the French e-commerce experience. The e-commerce market in France is expanding, supported by cards and digital payment methods in recent years. According to the report, the online payments market in France will be a USD 100 billion industry by the end of 2026.
France is an important European country with one of the most important e-commerce markets in the world. Clothing and sporting goods constitute the first sector of online sales in France. Notably, the clothing and sporting goods industry also has the highest return rate of any e-commerce category. Household goods, travel and vacation accommodation, books / magazines / newspapers, computer hardware and software are other categories. Payments for travel and vacation accommodation have seen a drop in 2020 due to the COVID-19 pandemic.
In France, debit and credit cards are the dominant payment method for French e-commerce, accounting for half of transactions. Digital wallets are fast becoming the second most popular method in the market. PayPal, Amazon, Cdiscount, Auchan, Showroompriv, are the most popular in France. Currently, bank transfer transactions are growing, making it the fastest growing additional payment method in France. Bank transfers are also supported by the Single Euro Payments Area instant transfer program, which was launched in November 2017.
Amazon is the popular online store with a market share of almost one-fifth of all e-commerce sites. In France E-commerce, click-and-collect options are developing rapidly. In 2018, Amazon announced the installation of 1,000 Amazon Lockers in French stations over the next five years. The Cartes Bancaires bank enjoys high visibility in France. It has more than 46,000 automatic teller machines and Carte Bleue cards can be integrated with the products of other card issuers.
This research report provides a comprehensive analysis of key growth drivers and challenges, demands and their projections for the coming years.
Main growth drivers
- Dedicated sites stimulate the online payments market
Transaction dynamics remain strong
Growing penetration of mobiles, market engine
Bank transfers are a popular payment method for high priced items
Cyber security challenges
Fraud and chargebacks
Electronic payments and e-commerce
The report studies the comprehensive information of all 11 categories
1. Clothing and sporting goods
2. Books / magazines / newspapers
4. Computer hardware and software
5. Household items
6. Tickets for events
7. Food / grocery
8. Travel and vacation accommodation
9. Movies and music
10. Electronic equipment
Payment Method – Based on the payment method, the online payments market has been largely segmented into
1. Bank transfer
2. Card (credit and debit)
3. Digital wallets
The digital wallet and bank covered in the report were covered from 3 perspectives
Digital portfolio covered in this report
Banks covered in this report
BNP Paribas SA
For more information on this report, visit https://www.researchandmarkets.com/r/bs468d.