What is PriceMinister (Rakuten France Rakuten.fr)? PriceMinister (Rakuten France Rakuten.fr) Review, Features

Priceminister (Rakuten France) was founded in August 2000. It is a French e-commerce platform that mainly sells 3C, Fashion and Home Furnishings. The company was originally located in Paris and its predecessor was a Zeppelin factory that can be traced back to the 1880s. PriceMinister was acquired by Japanese e-commerce platform Rakuten in June 2010. In March 2018, PriceMinister was officially renamed Rakuten France.

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About Priceminister (Rakuten France)

As a long-established e-commerce platform in France and a French site under Japan's Rakuten, Priceminister's influence in France is absolutely unquestionable, and the French e-commerce market is still a blue ocean market to be explored, especially for Chinese cross-border e-commerce sellers. First of all, the platform uses a purely French page display, whether it is a product page or a seller's backend, all operations need to be done in French.

Japanese e-commerce giant Rakuten acquired French e-commerce website PriceMinister in 2010. The "remodeling" of PriceMinister, including the change of the website and domain name, took 18 months. In March 2018, PriceMinister was officially renamed Rakuten France. After the "remodeling", PriceMinister has undergone considerable changes. In addition to applying a new logo, a new color scheme, and "remodeling" the App, it has also launched many new projects, such as Rakuten ID, Super Points program, Club Rakuten, EXPO awards, etc. On November 2, 2015, ESG Group (e-servicegroup), a global leader in e-commerce solutions, reached a strategic cooperation with PriceMinister, the largest e-commerce platform under Rakuten Europe. The two parties held a strategic cooperation signing ceremony at the headquarters of ESG Group in Hong Kong.

PriceMinister is the fourth largest e-commerce platform in France and the largest store market outside of Rakuten Japan. It has more than 10 million visitors per day, more than 800,000 social media subscribers, 30,000 to 50,000 daily transactions, and more than 70% repeat customers. Currently, the number of Rakuten members in France has reached more than 20 million, with 220 full-time employees.

Rakuten, the fourth largest e- commerce platform in France , has the largest store market outside of Japan

Advantages of Settlement

1. Rakuten France is the fourth largest e-commerce platform in France and the largest store market outside of Japan.

2. Huge market. Rakuten France has 5,000 professional sellers, of which less than 1,000 are Chinese sellers. The market is not yet saturated.

3. Rakuten France provides an exclusive professional team and various activities exclusively for sellers.

4. Sellers can set up various store promotion tools on their own.

5. Sellers also have their own brand page.

6. Rakuten France also has special promotions every week.

7. Chinese sellers also have exclusive discounts, including reduced monthly fees for the first three months, and the first 20 sellers to join will enjoy promotional tool discounts and can get paid faster.

Entry conditions

1. Enterprises need to provide business licenses to settle in.

2. Provide links to existing foreign trade B2B platform stores and French platforms (such as Cdiscount, Amazon France, eBay France, etc.).

3. There should be at least 1-2 French speaking operators.

4. You need to provide a trademark, brand certificate or authorized brand certificate.

5. Receive payments to World First Euro accounts.

Main rules of the platform

1. There are currently no restrictions on logistics, and you can use your own overseas warehouse to ship the goods. The current delivery time is required to be within 10 days.

2. Currently, WF cards are used for payment, and a Euro account must be opened.

3. Loan release cycle: Based on confirmation of receipt, the payment will be automatically settled to the PM account on 1/10/20, and then withdrawn to the WF card by yourself. If the receipt is not confirmed, the payment will be automatically settled on the 20th of the following month.

4. Return and exchange mechanism: Products can be returned to overseas warehouses, and the shipping cost can be negotiated with the buyer; if they are returned to China, the domestic address can be included when sending the item, and the shipping cost will be borne by the seller; if you choose not to return the item,

5. Payment account settings: Like Amazon, when sellers set up WF payment, they need to set up another payment bank account to pay the platform monthly rent and paid promotion fees. Chinese sellers can add VISA or MasterCard for payment.

User characteristics

48% women, 52% men; average age: 26-50 years old; the average shopping cart value for women is about 29 euros; the average shopping cart value for men is about 37 euros.

Monthly Plan

Rakuten France currently has the following four packages for sellers to choose from.

Logistics

Priceminister provides two logistics modes for Chinese sellers, Normal and Recommend. Normal is a small package, which cannot provide customs clearance services. When the order amount exceeds 60 euros, Priceminister will require sellers to use the Recommended express delivery mode.

Operational experience

1. Optimize super stores

(1) Optimize the “Store Introduction”: When writing the “About Us” section on the Priceminister store homepage, try to highlight the store’s strengths and key points, and introduce it from aspects such as industry experience, customer coverage, product quality, categories covered, product applicability, logistics channels, and after-sales guarantee.

(2) Improve store ratings: A good store rating can improve the seller's reputation and service level, making it easier for consumers to buy your products with confidence, thereby increasing conversion rates. (Note: When the rating is less than 4 points, it will seriously affect the order conversion rate.)

(3) Highlight the advantages of logistics: Advantages such as brand, overseas warehouse, logistics and warranty services must be written on the store. Using this information can effectively improve the order conversion rate.

2. Optimize products/pages

(1) Product description: Priceminister is a French localized e-commerce platform with more than one-third of active users, and has extremely high French proficiency requirements. Accurate language descriptions will not only leave a professional impression on customers, but also increase product search rankings and order conversion rates.

(2) Page settings: Set up a window menu for important recommended products so that customers can browse your products more quickly, thereby increasing the number of views; upload products to precise subcategories to demonstrate the professionalism of the store and make it easier for customers to browse other related products; set up new products or key recommended products on the right side of the store so that when customers browse products, the products on the right side can be exposed.

(3) Improve image quality: Images are an indication of product quality and determine whether buyers will continue to click to view. Rich product descriptions/high-quality images can better display product details, thereby stimulating consumers' desire to buy.

(4) Fill in the EAN code: The EAN code is very important for product searches. 95% of the products searched on the PM platform and other price comparison websites have the EAN code filled in. Products without the EAN code will not even be included in Google. In addition, products with multiple attributes (color/size) require the EAN code to be displayed together.

(5) Complete product attributes: Products with fully filled attributes can be directly searched through the website navigation, which is an excellent way to attract traffic. In addition, complete attribute descriptions can reduce complaints and return rates.

(6) Follow-selling: Priceminister does not require review, which can speed up the launch. Choosing to follow-sell can not only quickly place orders, but also lead to the exposure of other products in the super store.