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Swiss Luxury Sales Suggest Slow But Positive Return After COVID June 24, 2020 (0 comments)


Zurich, Switzerland—Stores in Switzerland have been performing reasonably well since reopening on May 11, Luxury Daily reports(Image: The Christ Uhren-Schmuck store at Zurich Airport)

Although the shopping experience is different—social distancing, limited capacity, and hand sanitizer are standard now—shoppers are willing to patiently wait their turn and, more importantly, spend their money.

Anthony Schaub, founder of the Geneva-based The Consultancy Group, told Luxury Daily that while some of this may be driven by “revenge buying,” simple joy of being out of quarantine, or reallocation of money that would have been spent for other experiences, luxury often does experience a boost after a crisis because they’re seen as a valuable investment in case of another crisis.

While Swiss consumers turned to digital experiences during confinement as much as the rest of the world, Schaub says the surge in in-store shopping—and a corresponding decline in online purchasing—shows that most luxury consumers still prefer to shop in person. But some habits still have changed: there’s a noticeable rise in “research online, purchase offline,” “click and collect,” and digital appointment-making.

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