France’s online payment growth is slowing down

Online sales growth in France is slowing down compared to previous years. A report by JDN shows while there was

Online sales growth in France is slowing down compared to previous years.

A report by JDN shows while there was growth throughout 2013, it dropped significantly compared to the growth seen in recent years. While 2011 and 2012 saw a 20% year-over-year growth in online sales, 2013 saw only 11.2%. The pattern will seem to follow in the coming years, as JDN’s report mentioned the figures point to 2013 being the last year France sees double digit growth. Decrease in growth is expected from maturing markets, although it was expected the growth would taper off more slowly.

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The report pulled numbers from bank card transactions placed with Wordline, PayBox, Montex Payline and Ogone payment service providers. These 4 firms are responsible for 90% of internet based transactions in France. Together they processed €40.26 billion ($53.68 billion) during 2013, and increase from €36.2 billion ($46.41 billion) in 2012.

With the decrease in growth, a decrease in shopping cart amounts was also recorded. An average of €5 less per cart was seen, resulting in the average shopping cart being priced at €81.51.

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JDN also saw an increase one-click payment services. These services offer to store cardholder data to simplify future transactions without requesting card numbers and shipping information on every purchase. Use of such one-click payment solutions shows growth in mobile payments via smartphones and tablets.

2014 is expected to show France surpass 29 million online shoppers, with a calculated additional 600,000 people to be added every year until 2017.

 

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Image courtesy of Wikimedia

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