Swiss want to cut back on Christmas presents
Ernst & Young – consumer survey One in three wants to spend less than in 2008 / top gifts are books, money and clothing
ZURICH, NOVEMBER 4, 2009 – A representative survey of 500 Swiss consumers by the auditing and consulting services firm Ernst & Young has revealed that this year’s average budget for Christmas presents is CHF 267. One in three wants to spend less than in 2008; only five percent plan to increase their gift budget. The scope of the survey was restricted to planned purchases of Christmas presents, rather than general consumer behaviour.
“The economic crisis is affecting the mood of consumers. The good news is that 60 percent of Swiss people intend to spend as much as in 2008,” notes Martin Gröli, Partner at Ernst & Young.
The under-35s intend to spend the least on Christmas presents (CHF 231). Those likely to spend the most are consumers between the ages of 36 and 45 (CHF 304). Singles tend to spend less on Christmas presents (CHF 231).
Reading material is at the top of the gift list, with 54 percent of those surveyed intending to give books. Gifts of money are almost as popular (51 percent). Clothing is also a popular choice (48 percent). On average, each consumer intends to spend CHF 41 on gift certificates or gifts of money. Other areas where spending is likely to be high include clothing (CHF 35), toys (CHF 31) and books (CHF 27).
Specialist retailers benefit most from the holiday shopping season
The Swiss prefer to buy their gifts from specialist retailers and markets. Consumers will, on average, spend 49 percent of their budget (corresponding to CHF 130) in specialist shops. They intend to spend 8 percent of their budget, some CHF 22, with online retailers.
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