According to Renub Research analysis, France Ecommerce Payment Market is forecasted to be more than USD 100 Billion by the end of year 2026.
According to the latest report by Renub Research, titled "France Ecommerce Payment Market & Forecast, by Category (Clothes, Books, Medicines, Computer, Household Goods, Tickets, Food, Travel, Electronic), Payment Method, Digital Wallets, Bank" France is the most populated country in the European Union, with 65.3 million residents and the second-largest ecommerce market. In the year 2019, in France, the number of an ecommerce website has grown to 16%, adding more online shops than in 2018 as per government data. In France, around 191,700 ecommerce websites include physical stores that have launched online to their brick-mortar stores. Black Friday is known for its online shopping day and is more popular than Christmas in France. As per Renub Research, France Ecommerce Payment Market will be USD 100 Billion by 2026.
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French consumers are loyal to their local brands and avoid purchasing across the border in online shopping. Roughly 60 percent of French shoppers make only domestic purchases, according to the Ecommerce Foundation, a Netherlands-based research firm. Besides buying products, France uses e-commerce payment services for travel purposes, buying events, tickets and music subscription. Across the globe, merchants have seen making relatively more profit in trading in French marketplaces. The French population is well – versed and familiar with the use of E-commerce. Around 58 million French uses the internet on their mobile and computer for shopping or any other business purpose.
Surging growth in the French market is due to the high use of the internet, mobile services penetration and delivery option. Its market is full of opportunity for online as well as brick–mortar stores. Ecommerce now becomes an essential key for trading across France. The online market has shown substantial growth in the E-commerce market because of the one-click payment options. Compared to other categories online fashion industry has reached a considerable size. Now brick and mortar outlets are also shifting towards online payment or digital payment options.
In France, Household Goods, Travel and Holiday accommodation, Books / Magazines / Newspapers, Computer Hardware & Software are other categories changing its way of payment from cash to card or digital payment. This payment method will boom in future as COVID 19 precaution promotes contactless money transfer. The most commonly used payment option by French people in which dominant e-commerce market is a credit card or debit cards. Many restaurants and shop except for card payment because it’s direct account transfer and safe transaction. Digital wallets second most popular and emerging payment method. There are various digital or online payments apps available in the French market, like Cdiscount, PayPal, Showroomprivé, Amazon, Auchan, which are the most popular in France.
Digital wallet provides many discounts and offers to customers in various transactions, making it prevalent among the French population. Amazon is the most used online store with a market share of almost one-fifth of all ecommerce sites. Amazon Pay provides its shopper to use their amazon.com account to make online purchases. With Amazon Pay, the customer can use credit or debit cards stored in their digital wallet.
French people consider bank transfer for high tickets item. This method is mostly used by ecommerce merchant, paying rent or to transfer money on a savings account. Bank transfer was also supported by the Single Euro Payments Area Instant Credit Transfer scheme launched in November 2017. The most trusted banks in France for money transfer are BNP Paribas SA and Credit Agricole. BNP is one of the oldest French international banking groups with loyal and investing customers.
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Category:- This report covered the markets of following 11 Categories like Clothes and Sports Goods, Books/Magazines/Newspapers, Medicines, Computer Hardware & Software, Household Goods , Tickets for Events, Food/Groceries, Travel and holiday accommodation, Films and Music, Electronic Equipments , Others.
Payment Method:- Based on Payment Method, this report covers the market segmented into Bank Transfer, Card (Credit and Debit), Digital Wallets, Cash, Others.
Digital Wallet and Bank Covered:- We have covered Digital wallet & Bank have been covered from 3 viewpoints Overview, Initiatives & Recent Developments, Revenue.
Digital Wallet:- This report covers Digital Wallet like PayPal, Amazon Pay, Hipay.
Banks:- We have covered following banks insights like BNP Paribas SA, Credit Agricole.
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