Retail sales in Switzerland impacted by the weather, according to GfK
Published: Wednesday, Oct 30th 2024, 11:40
Updated At: Wednesday, Oct 30th 2024, 10:40
Volver a Live Feed
According to market research institute GfK, sales in the Swiss retail sector fell in the first nine months of 2024. They fell by 0.2%, as the "Market Monitor" published on Wednesday shows. One of the reasons for this was the bad weather.
The non-food segment saw a clear decline from January to September. Sales there fell by 2.8%, while they increased by 1.3% in the food and near-food segment, according to GfK. Meanwhile, according to the Federal Statistical Office (FSO), inflation stood at 0.8% in September.
In addition to the subdued consumer sentiment, GfK also cites the weather. The number of sunny days in summer 2024 was lower than in the previous year and in September, a significant drop in temperatures had already set in during the first half of the month.
At least the fashion sector benefited from the early start to fall: Warmer clothing was in greater demand from September onwards. However, it was not possible to make up for the summer losses. In the "do it yourself" sector, on the other hand, sales of garden tools and accessories in particular declined.
GfK has generally noted a continuing reluctance to buy on the part of the Swiss. Although premium products are popular, purchasing decisions are increasingly shifting to recurring promotional days such as Black Friday.
Meanwhile, online shopping remains on trend. Sales there grew by around 4% at the end of September.
GfK and BFS with different surveys
The FSO last reported a nominal increase in retail sales of 1.9% in August. This was the strongest increase since June 2023. Retail sales of food, beverages and tobacco increased by 2.7% in nominal terms, while retail sales of non-food products rose by 0.4%. The September figures will be published next Friday.
The FSO and GfK survey methods are different. The FSO's retail sales statistics are based on a random sample of around 3,000 companies. They are collected monthly, with small companies being surveyed quarterly on their monthly sales figures.
GfK's figures are based on actual sales figures that the service provider receives from over 40 large Swiss retailers. According to the data, these retailers generate around 40 to 50 percent of total sales in the sector. Specialist retailers are not included here. GfK notes that the "Market Monitor" does not claim to be representative of the market as a whole.
©Keystone/SDA
Spanish 
English 
German 
French 
Arabic