Swiss households likely to cut spending on Christmas gifts
The average gifting budget has fallen to CHF411 ($473), down from last year's record of CHF500.
Consumer morale is being weighed down by inflation, rising health costs and general economic uncertainty, according to a study released by the GfK institute on Monday. In all, 40% of those questioned expect to spend less on gifts and a third expect to donate less to charitable organisations than in previous years.
Kurt Meister, an expert at GfK, believes that the Swiss are “shopping in a more targeted way and paying more attention to sales promotions”, such as Black Week.
The proportion of online purchases remained at the same level as last year, while in-store purchases fell by 8%. “We expect online Christmas shopping to develop positively,” Meister. Buying behaviour remains a hybrid: almost one in seven Swiss shoppers buys online and in-store, 22% only in-store and 9% only online.
Over the coming year, the Swiss are likely to continue to limit their shopping. More than half want to “consume more consciously and spend less”. More than a quarter also intend to buy more second-hand, “especially women and young people”. Over 20% of them might consider buying a reconditioned electronic device (smartphone, tablet, computer). That’s 6% more than last year.
The online survey was conducted in German- and French-speaking Switzerland between November 30 and December 5.
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