Study sees difficult year for Swiss retail
Published: Tuesday, Dec 17th 2024, 12:10
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The Swiss population is on a savings course: according to a representative survey, many consumers want to spend less money on things they don't need in 2025.
The persistently tense economic situation in Switzerland will also be clearly reflected in consumer behavior in 2025, according to a press release published on Tuesday by the consulting firm Alix Partners. According to the study, retailers and restaurants in particular will have to be wary of consumer restraint.
More than a third (38%) of respondents stated that they wanted to save money, particularly in the non-food sector. According to the survey, this also includes spending on leisure, electronics and DIY items. Only 16% of the study participants want to increase their spending in this area. A good third of respondents also want to spend less money on entertainment outside the home and in restaurants, cafés and other catering establishments.
The way in which consumers want to save money varies: According to the press release, just under half of those surveyed have set themselves a limit when it comes to certain product categories, just under a third want to make more use of promotions and just under a third have also resolved to plan their purchases better. In addition, half of those surveyed said they would eat more at home instead of in restaurants.
According to the press release, the population's savings plans are primarily due to the subdued consumer climate. However, many would not spend more money even if they had more at their disposal. A third would rather use the extra money for travel or put it aside.
"For companies in the retail sector, it's now time to get down to business. If you're not profitable, you have to put everything to the test: Where do I differentiate myself, what do I offer my customers? And how do I position myself internally in a digital and agile way?" Cornelia Brühwiler from Alix Partners is quoted in the press release.
For the representative survey "Consumer Priorities 2025", the global management consultancy Alix Partners surveyed a total of 1,000 consumers in Switzerland in October 2024.
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