Around 70 per cent of Swiss consumers do shopping at foreign-owned stores, mainly because it is cheaper, according to a survey published on Wednesday.This content was published on June 29, 2011 - 11:14
This leads to an estimated loss in turnover for Swiss retailers of around SFr3.2 billion ($3.9 billion) said the study’s authors, retail consultants Fuhrer & Hotz.
SFr2.5 million alone is spent on food in foreign shops, says Fuhrer & Hotz. The company not only looked at classic “shopping tourism” – nipping over the border for bargains – but also shopping abroad in general.
German-speaking Swiss in particular like German discounters Aldi and Lidl. Price was given as the main reason for shopping outside Switzerland.
However, it is not necessarily those with the lowest incomes hunting for bargains: higher earners often do their daily purchases abroad, the study found. Top earners bought the most clothes.
The survey was based on an online questionnaire of around 1,000 people.
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