Nearly two out of three people are planning to reduce their spending on Christmas presents this year, according to auditing firm EY, following its traditional end-of-year survey of some 600 consumers.
This content was published on December 13, 2023 - 14:07
December 13, 2023 - 14:07
2 minutes
Keystone-SDA
The average amount Swiss shoppers intend to spend is CHF282, a good fifth less than a year earlier.
“After weak wage negotiations, another significant increase in health insurance premiums and a second rise in the benchmark interest rate with its repercussions on rents, the outlook for 2024 is gloomy, leading to a delayed effect of inflation,” says André Bieri, specialist for the Swiss market, quoted in the report released on Wednesday.
Christmas consumption frenzy is unsustainable anyway. We started giving one gift to just one person below 50CHF via secret santa.
My GF's health insurance went up 15.9% too. Can't even imagine what Swiss people do who are not in the top 10% of earners like I am.