During September, Equipmag, France’s premier retail event, saw more than 23,000 attendees participate in three days of intense discussion around “Shopping Revolution”. Talk of multi-channel and mobile dominated much of the debate, confirming France’s pivotal role in driving innovative ‘connected’ retail solutions within Europe.
A key player in this retail revolution, VeriFone used the event to showcase its eagerly awaited portfolio of French-specific products, which included e-commerce and mobile ‘tablet-based’ solutions linked to our PAYware Wynid platform. This highly-focused event proved the ideal platform to share our market vision with key decision-makers from France’s trade, retail and financial sectors, creating many new opportunities for our sales teams.
A Key Market
One of the world’s wealthiest and most developed countries, France is an important European market for VeriFone. With a population of more than 65 million, it is the world’s fifth and Europe’s second-largest national economy in terms of GDP, and also the second largest trading nation in Europe.
And French retailers are keen to talk to us. Their rising cost base means operational efficiency has never been more crucial for long term survival of both large and small artisan outlets. Similarly, finding new ways to add value with more convenient and compelling ways to shop has never been more relevant.
With our help, many French retailers are rethinking the way payments are managed. Using the latest technology – including advanced multimedia payment terminals, NFC and contactless, innovative apps and software and more unified multichannel payments solutions – retailers are striving to give customers faster, easier and more exciting ways to pay. Ones that align more closely with consumer’s increasingly mobile and online lifestyles.
This is particularly important as consumers needs evolve. For example, e-commerce is becoming increasingly important for French retailers. In 2011, the total revenue generated by e-commerce in France exceeded 37 billion euros making it a significant business in its own right.
Similarly, a staggering 99.7% of France’s population uses a mobile device, which underscores the potential importance of the mobile as a channel for retailers. In addition, the prevalence of smart phones and tablets with mobile internet access is fueling m-commerce. Gross transaction value of mobile payments in France to set to rise to $38.8 billion in 2016 according to figures from IEMR.
VeriFone’s leadership in NFC and mobile as well as our unique position as an end to end, integrated multi-channel payments solution provider is undoubtedly winning us new ground with French retailers.
In France, our R&D, development and operational teams, have been working closely with French customers to create and implement new payment strategies, evolve infrastructure and unify channels. Today, three of France’s top five retailers, as well as a leading proportion of the country’s supermarkets, multiples and independent retailers use VeriFone solutions, which include MagIC and Optimum payment devices and PAYware Wynid payments services.
All of these were featured on the Equipmag stand, reflecting our continued innovation and dedication to meeting the needs of this challenging and dynamic local market.
Image courtesy of Equipmag’s photstream on Flickr.