The luxury market is slowing down worldwide in the wake of falling demand in important regions such as China, but continues to pull in Switzerland. +Get the most important news from Switzerland in your inbox In 2024, it grew by a further 3.5% to reach a volume of CHF5.4 billion, according to an analysis published today by the consulting firm EY. Purchases of luxury goods in branded stationary shops in Switzerland amount to 53% of the total, which is significantly lower than the 75% recorded in other countries. In a survey, nine out of ten Generation Z respondents in Switzerland said they were willing to pay for an exclusive retail experience, a very high share worldwide. “The survey results clearly show how central the brand experience has become for consumers,” said Fabian Wehren, expert at EY, quoted in a statement. “Especially in Switzerland, where luxury goods are bought online more often than average, there is a need to catch up in terms of digital consumer experience. To ...
