Luxury market slows down worldwide, but not in Switzerland

The luxury market is slowing down worldwide in the wake of falling demand in important regions such as China, but continues to pull in Switzerland. +Get the most important news from Switzerland in your inbox In 2024, it grew by a further 3.5% to reach a volume of CHF5.4 billion, according to an analysis published today by the consulting firm EY. Purchases of luxury goods in branded stationary shops in Switzerland amount to 53% of the total, which is significantly lower than the 75% recorded in other countries. In a survey, nine out of ten Generation Z respondents in Switzerland said they were willing to pay for an exclusive retail experience, a very high share worldwide. “The survey results clearly show how central the brand experience has become for consumers,” said Fabian Wehren, expert at EY, quoted in a statement. “Especially in Switzerland, where luxury goods are bought online more often than average, there is a need to catch up in terms of digital consumer experience. To ... Full story here Are you the author? Previous post See more for 3.) Swissinfo Business and Economy Next post
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