GfK Market Monitor Switzerland: Stationary trade stagnates, online trade increases
The Swiss retail sector remained flat in 2017 compared with the previous year. This brought the downward trend of recent years to a halt. At the same time, online retail continued to grow.
Sales in the Swiss retail sector stagnated in 2017, according to the latest GfK Market Monitor. While the months of October and December were in the red, November saw an interim high with an increase of 2.4%. There were no significant differences in development between the food retail and non-food retail sectors in 2017: unlike in the previous year, both markets stagnated. Meanwhile, online and mail-order retail continued to grow in 2017, in contrast to bricks-and-mortar retail.
According to GfK, the retail trade benefited from the weather in 2017: DIY and garden stores profited in spring and the early onset of winter also had a positive impact on purchasing behavior. Consumers felt the urge to buy winter clothing and winter sports items early on.
GfK has also published figures on inflation, which has risen slightly in recent months. In December 2017, it was up 0.8% on the same month of the previous year. The average annual inflation rate in 2017 was 0.5 percentage points. The Federal Statistical Office is forecasting inflation of between 0.1% and 0.2% for 2018 and 2019.
The GfK Market Monitor Switzerland is a service provided by GfK Switzerland in cooperation with around 40 major retailers, which generate around 50 percent of total retail sales in Switzerland.
