The e-commerce sector in France is showing impressive results for the third quarter of 2024. With a significant increase in sales and a sharp rise in the number of transactions, the recovery that began at the start of the year seems to be confirmed.
Online spending is booming
During the third quarter of 2024, the French spent €43.1 billion online. This amount represents a 12.5% increase compared to the same period in 2023. In terms of transactions, online retailers recorded 651 million transactions, marking a 13.5% year-on-year increase and 77 million more than in the third quarter of the previous year. The data collected shows a marked return to double-digit growth after difficult years in 2022 and 2023.
This rebound is attributable to various factors, including the slowdown in inflation on essential spending. According to Marc Lolivier, General Delegate of Fevad, this situation has provided some relief to the purchasing power of the French.
Performance of the non-food and travel sectors
Non-food products are also showing signs of recovery. For the first time in over ten quarters, the number of orders in this sector has finally turned positive, with a 1% increase. Meanwhile, sales of consumer goods have improved, rising 3% compared to the third quarter of 2023. The fashion and travel industry is also rebounding, posting strong results after a period of decline.
These trends reflect renewed consumer confidence and a desire to resume more regular shopping habits. Data collected from approximately one hundred leading websites comprising the iCE 100 panel supports these observations.
Resumption of sales to professionals
In addition to sales to individuals, the business-to-business segment is also showing significant signs of recovery. During the third quarter of 2024, this market saw a 9.7% jump , likely a rebound from a low point in the same quarter of the previous year.
These positive results indicate that businesses are also regaining their momentum after a difficult economic period. The more favorable economic climate is enabling a general recovery in business activity, thus promoting better performance in terms of overall revenue.
Estimated evolution of the global market
To estimate the overall market, Fevad combines several data sources. These include not only information collected from the iCE 100 panel sites but also the value of electronic payments reported by providers participating in the PSP panel, including an estimate of offline payments.
This methodology provides a fairly accurate overview of the French e-commerce landscape, facilitating a reliable assessment of current and future trends.
Despite a still uncertain economic climate, forecasts for the end of 2024 remain rather optimistic. Various indicators suggest that the French are expected to continue increasing their online spending compared to 2023.