On Christmas Eve, less cash and gift vouchers are given away, but more Lego sets and game consoles. The differences between women and men are striking.
The Swiss and Germans are spending less money on their loved ones at Christmas this year.
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Oh Christmas tree, how expensive are your gifts. The Swiss want to spend an average of 282 francs on Christmas presents this year. This is the lowest amount since 2015 and a decrease of over 20 percent compared to the previous year. This is the conclusion reached by the auditing firm EY, formerly Ernst & Young. For one representative survey EY surveyed over 1,600 consumers in Switzerland and Germany.
A similar picture emerges in Germany. German consumers plan to spend 250 euros on gifts. This is only a decrease of one percent compared to the previous year, but it is the lowest value since 2014. At that time, the German gift budget was 219 euros.
Rising costs of living are dampening the joy of giving gifts
Women and men spend different amounts on gifts. Everyone wants to save. The women surveyed expect to spend 266 francs on gifts. Last year it was 309 francs. For men it is 304 francs instead of 375 francs.
Three out of five respondents want to reduce spending on Christmas presents due to rising living costs. Every fifth person in Switzerland wants to save “significantly”, in Germany it is every third. Nina Mühlebach from the Economic Research Center at ETH Zurich (KOF) expected the results of the survey. In October, the low consumer sentiment deteriorated again. Consumers were pessimistic about the economic situation and their own financial situation.
According to Mühlebach, spending on Christmas presents was extremely high in 2022. Consumers built up savings during the pandemic years, which they then spent on gifts, among other things.
Most Swiss people buy gifts online
Online retail was one of the big beneficiaries of the pandemic. This year too, the Swiss want to spend most of their money online – just like in Germany. According to the survey, the expected market share of online shopping in the Christmas business in Switzerland is 41 percent, and in Germany it is 47 percent.
Digitec Galaxus is the largest Swiss online retailer. When asked, media spokesman Stephan Kurmann said the mood among customers was good. The Christmas business started at Digitec Galaxus with Black Friday Week from November 20th to 27th. Compared to last year’s campaign week, Digitec Galaxus could have increased sales, says the spokesman. Sales in December were at the previous year’s level.
According to the Galaxus spokesman, customer searches are a good indication of what will be under the Christmas trees this year. The most searched terms are: “Lego”, “PS5”, “Nintendo Switch”, “iPhone 15 Pro”, “Airpods”, “Lego Technic”. Lego and electronic devices dominate the search queries at Digitec Galaxus.
Vouchers, toys and sweets are often given away
Overall, cash and vouchers are given away most frequently in Switzerland. This is followed by toys and food. Men in particular give away electronic devices such as computers, smartphones or fitness watches, while women more often give away books, furnishings or cosmetics.
On which gifts the most money is spent on average
In Franconia, compared to the previous year.
The fact that a gift is sustainable or at least perceived as sustainable is more important to those surveyed than it was a year ago. Three out of five respondents said they paid attention to “sustainability aspects”. Women are more likely to say they want to buy sustainable gifts. At the Changemaker store chain, which sells sustainably and fairly produced products in various Swiss cities, there is still little sign of this increase. Managing director Erich Geisser speaks of “restrained consumption”. Sales are slightly behind those of the previous year.
This year too, presents will be piled up under many Swiss Christmas trees. According to the EY survey, only one in four people has a budget of less than 50 francs. Four out of five respondents want to spend between 50 and 500 francs on Christmas presents. And 3 percent plan to invest more than 1,000 francs in gifts on Christmas Eve. Let’s hope that the chosen ones like the gifts too.
2023-12-14 04:40:39
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