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Crossing the border once a week for bulk shopping? This was once. More and more Swiss are not making a shopping trip to Konstanz (D) or Jestetten (D). They go abroad less for shopping. This is the St. It is the result of a long-term study by the University of St. Gallen.
The facts are impressive. Purchasing from stationery stores abroad has dropped by as much as ten percent since 2017. Also, Swiss people spend less money abroad per purchase. To be specific: In 2017, the average was CHF 246.50 per purchase. In 2022 it was only 216.10 francs.
Inflation is deterring
Why? “There are many reasons for the decline in shopping tourism,” says retail expert Thomas Rudolph of the University of St. Gallen’s Retail Management Research Centre. First of all, the corona epidemic has severely restricted shopping tourism to Germany. »
However, high inflation in Germany also has a deterrent effect. “About 20 percent of Swiss shopping tourists move not to go to Germany.” In addition, the demand for local, quality products is increasing. This makes it easy to shop in your home country.
Especially the fashion industry is losing.
The decline is particularly noticeable in the clothing industry, where total volume has dropped by around CHF 300 million since 2017, according to the study. “In the food trade, the frequency of shopping from shops close to the border has also decreased,” Rudolph tells “Südkurier”.
But shopping tourism still hurts Swiss retailers. Rudolph says: “Our estimates show that the Swiss retail sector will lose CHF 8.43 billion this year due to shopping tourism.” (be)
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.
