Budgets for Christmas presents are falling
Published: Monday, Dec 18th 2023, 10:00
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Christmas gift budgets reflect the cautious consumer behavior in Switzerland. More than 40 percent of Swiss people are planning to spend less money on toys this year.
On average, the people surveyed by market researcher GfK want to spend 411 francs on toys to put under the Christmas tree. This budget is therefore well below last year's record figure of 500 francs, GfK explained in a press release on Monday.
The cautious consumer mood is explained by concerns about inflation, rising healthcare costs and general economic uncertainty. Just under half also stated that they wanted to consume more consciously in the new year and limit their spending.
The willingness to spend money on toys has decreased this year, particularly in brick-and-mortar stores. In particular, interest in traditional shopping sprees in bricks-and-mortar stores has waned. GfK expects sales to fall by 8% compared to the previous year.
However, online shopping remains popular: "We expect a positive trend in online Christmas shopping", the press release stated.
©Keystone/SDA
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