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Retail sales increased CHF 300 million last year. As data released by GfK Switzerland on Wednesday shows, the industry currently has sales of CHF 102.6 billion – an increase of 0.3 percent.
The market research institute attributes the increase to continued immigration and inflation. Retail trade increased prices for customers last year due to inflation. Myriam Meier says some of the reasons for this are the significantly higher costs for shipping, energy, packaging and logistics. GfK is responsible for retail in Switzerland.
Why are Aldi and Lidl missing?
A table shows which companies in the Swiss retail trade are making the largest sales. Migros markets take the first place with a turnover exceeding 12.3 billion francs, followed by Coop markets with a turnover exceeding 11.5 billion francs. Jumbo sales increase 27.3 percent. Following its acquisition by Coop, the retailer merged its Bau and Hobby branches with the Jumbo branches. All of them now work under Jumbo Markt AG.
What is noteworthy when looking at the ranking list is that two German discount companies Aldi and Lidl are missing. This has to do with the fact that they don’t officially announce their sales. However, GfK assumes that Aldi Suisse currently has sales of CHF 2.5 to 3 billion. That would be the 4th place. At Lidl it should be between 2 and 2.5 billion francs, which would place the company in 5th place.
Online commerce is on the decline
Online sales declined in the retail industry last year, according to GfK. Consumers ordered 14 billion Swiss francs worth of goods and goods online. This corresponds to a decrease of CHF 0.4 billion, or 2.8 percent. “We see this decline as a respite from the previous two strong years,” Meier says. Online sales also saw a huge spike during the corona pandemic. Online stores in Switzerland increased by 44 compared to 2019.
According to GfK, the outlook for 2023 and 2024 remains cautious. The global economic environment remains challenging. The big problem, according to Meier: the shortage of skilled workers in the retail trade. However, there was a relaxation in energy prices. The risk of stagnation and interruption in energy supply has also decreased significantly.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
