Market Trends of France POS Terminal Industry
This section covers the major market trends shaping the France POS Terminal Market according to our research experts:
Increased Payments from NFC-Compatible Smartphones and Smart Cards
- NFC is a wireless data transfer method that allows smartphones, laptops, tablets, and other devices to share data nearby. NFC technology enables contactless payments using mobile wallets such as Apple Pay and Android Pay, as well as contactless cards. When an NFC-enabled smartphone or a credit or debit card is tapped against a POS terminal, then payment credentials are exchanged. This increases transaction efficiency.
- The increasing number of supermarkets, specialty stores, and hypermarkets are driving increased demand for NFC POS terminals. France is one of the major countries contributing the highest revenue share in the NFC POS terminal market. Some factors stimulating the need for NFC POS terminals include an increasing preference for NFC-compatible smartphones for payment among the France population.
- Because of security threats, updated hardware created for the market is centered on facilitating smoother transactions. However, the forced separation caused by the epidemic has accelerated the development of contactless payments with distinct authentication capabilities.
- The inclusion of cameras and fingerprint sensors forces bigger form shapes. However, this is offset by industry innovations that allow manufacturers to go smaller in pursuing micro-electronics. Some companies in France were also offering Contactless and built to accept regular credit card transactions and contactless facial biometrics as alternatives to facial verification; NFC, RFID, chip, and magnetic stripe card transactions are also enabled.
- According to a survey conducted by Worldpay, approximately 16.03% of the value of Point of Sale transactions has increased from 2019 to 2024. In 2020, payments in France had influenced by the COVID-19 pandemic. The stores were (temporarily) closed, leading to a decline in the value of POS transactions.
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Retail Sector driving the growth of POS Terminal Market
- Due to substantial discounts and other services, a rising number of retail establishments throughout regions attract clients; however, customer retention becomes the key difficulty for them to continue in the market. This rivalry raises the need for businesses to rethink their business models to compete on pricing and strike a balance between investing in new technology and generating income.
- The features provided by POS terminals, such as sales reporting, inventory, financial management, and customer analytics features, help merchants address client retention challenges. As a result, the demand for client retention and increased competitiveness in the market drive the rise of POS terminals.
- Taking advantage of the industry's expanding spectrum of digital solutions, several retailers have invested in high-tech improvements for their storefronts and expanded their multichannel offerings.
- The prospect of the 2024 Olympic Games and the international reputation of "Maison France" is a new point of appeal for multinational firms trying to strengthen their position in the French market. The excitement of the leading luxury merchants is supported by significant growth in the global turnover of the major luxury groups, with a strong French representation in the international rankings.
- According to the Banque de France, Adjusted for seasonal and working day take-ups, retail trade turnover was down 0.8 percent in April 2022 compared to March 2022. Food sales climbed by 1.9 percent, while manufactured goods sales decreased by 3.0 percent, influenced by a drop in new car sales and furniture sales, which fell by 6.9 percent and 7.5 percent, respectively. Over the previous three months (Jan2022-March2022), manufactured goods sales increased by 3.7 percent, led by consumer electronics, which dropped by 6.5 percent in April but increased by 6.5 percent over the three months.
- According to a survey by the Federation of E-Commerce and Distance Selling (FEVAD), E-commerce accounted for approximately 14.1 percent of all retail sales in France in 2021. There is an increment of 13.4 percent from the previous year. Moreover, in 2021, e-commerce sales in France amounted to about 129 billion euros.
