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The consumer behavior of the Swiss population has changed in recent years. Conscious consumption is becoming increasingly important. But at the same time, expensive luxury Advent calendars are booming. A contradiction?
Over 500 million francs by 2020: That’s how high non-food retail sales were on Black Friday – and they increased sharply every year.
The trend reversal came in 2021: sales stagnated, partly due to delivery bottlenecks during the corona pandemic. In 2022, Black Friday sales fell to 480 million francs. On this year’s Black Friday, the Swiss retail trade only achieved a slight increase in sales to 490 million francs. Nevertheless, sales generated on Black Friday are trending downward.
Julian Zrotz, managing director of the discount platform “blackfridaydeals.ch”, suspects the reason for this declining trend is general uncertainty. This arose in 2022 in connection with the Ukraine war, a shortage of electricity and gas, rising health insurance premiums and rising oil prices. For all of these reasons, there was generally little purchasing in 2022. According to a recently published report, cybercrime is also a good reason why people are shopping less, especially in online shopping Study by the FHNW.
Shopping is perceived as a tedious activity
In addition to cybercrime, one shows Study by the Gottlieb Duttweiler Institute (GDI) Further reasons for the shopping slump: The population’s attitude towards shopping has changed in general. As a result, shopping is no longer perceived as a pleasant leisure activity, but rather as a tedious activity.
According to the study, most people spend less time shopping. They preferred to save time rather than money and preferred to spend their free time on meaningful experiences rather than strenuous purchases. Swiss trade must increasingly be based on the following four criteria: promptness, proximity, pleasure and purpose.
Increasing sales figures for luxury goods – a contradiction?
According to Digitec Galaxus, 15 percent more luxury Advent calendars were sold this year than last year. These numbers appear to contradict the results of the GDI study.
But Zrotz has an explanation for these high sales figures for luxury products. “The middle price segment, for which Switzerland has long been known, is becoming less and less important.” The demand for very affordable products is increasing, as is the demand for expensive, high-quality branded products. The latter are also considered a status symbol. In addition, these are often given away, so the price then plays less of a role.
You give yourself or others a small daily moment of happiness. This makes waiting for Christmas an experience.
Study author Gianluca Scheidegger from the GDI explains the high sales figures for luxury Advent calendars through the fun aspect that such a calendar promises: “You give yourself or others a small daily moment of happiness. This makes waiting for Christmas an experience.”
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According to a study by the GDI, experiences as leisure activities are becoming more important than shopping.
Keystone/Sarah Yenesel
The business for luxury brands and cheap bargains has not yet boomed. Almost half of those surveyed another The FHNW study looked for the price or price comparisons before purchasing. This is particularly evident among young consumers (18-39 year olds). Prices and therefore offers like those on Black Friday will therefore remain sales events for retailers in the future.