Through the first half of this year, France’s booming ecommerce market saw one in every three internet users make a purchase from an online marketplace. And, with the sharp devaluation of the pound against the euro following the Brexit vote this summer, tapping into the French marketplace could now be worth up to 14% more.
World First’s Corporate Market Analyst, Edd Hardy, met with the team at ecommerce platform Cdiscount to talk French opportunities, Christmas strategy and currency impacts. Click here to access a full recording of the webinar or read on for a quick summary of what you need to know to prepare for successful cross-border sales this holiday season:
1. The French ecommerce market is booming
35.5 million French people shop online, which is a whopping 78.3 percent of internet users. France offers even more online opportunity than Germany, Spain or Italy. In fact, French Gross Merchandise Volume (GMV) is forecast to reach 90 million euros by 2020. Now that’s an upward trend worth jumping on![1]
2. How to prepare for the Christmas rush
The holiday season is the most critical phase of the retail calendar for online sellers. In order to ensure you’re ready to make hay this Christmas, Cdiscount advise:
- Get your products online in early November
- Secure delivery time or use a fulfilment service
- Make your offers, delivery times and policies as clear as possible
- Pay attention to inventory update
- And, know your limits to ensure you can keep up with order velocity
3. Cdiscount—your way into the French marketplace
Cdiscount was launched back in 1998 and is a main player in France. With competitive commission rates, mobile compatibility and even a fulfilment service, they offer great visibility in the French markets.
4. Weak sterling means now is the time to sell abroad
Sterling has lost ground against almost every other developed market currency over the past two decades. In fact, following the EU Referendum, GBP suffered its sharpest loss in recorded history. While sterling’s decline is causing real headaches for buyers and local sellers, for those looking to foreign markets, the benefits can really stack up. Once you repatriate your earnings from your Christmas sales, you may be looking at up to 14 percent more than you would have pre-Brexit vote.
Are you looking to tap into the French market this holiday season? For an exclusive three month free trial on Cdiscount, simply fill out your details on this Cdiscount enquiry form. And, you can find out how to make your international payments quicker and easier with Word First here.
[1] Sources: Fevad, INSEE, Xerfi