Switzerland Ecommerce Table of Contents
The 21st biggest e-commerce market by population is Switzerland. Revenues crossed 7 billion US dollars in 2019 on this market. The Swiss e-commerce value is forecast to reach USD 10.701m by 2024. User penetration is projected to be 69.3 percent this year, and 72 percent by 2024.
Switzerland has a strong e-commerce situation. The demand is growing, with new stores constantly appearing. The highest group, Electronics, and Media account for (31%)of sales, Fashion is 27percent, food and personal care is 18percent, furniture and equipment is 14percent, and Toys, Hobby & DIY is 9percent. Swiss anibis.ch, Swiss ricardo.ch, and German amazon.de are the best-known e-commerce in Switzerland.
Zurich and Geneva are the major trade centers of Switzerland. Particularly because of the high urbanization (in comparison with the rest of the country) of these areas, trade is also booming there because of high market demand. Considering that the two cities is located in attractive areas and well-connected, they also draw tourists who help to develop, not Swiss only. In addition, many see Switzerland as a European Silicon Valley with a strong tech and innovation growth climate. And it is no surprise, given that Switzerland still leads with regard to taxes except as a Silicon Valley, in terms of technology.
With 95% of the population aged 16 and 65 daily using the internet and at least 90% of them shopping online at least once, Switzerland has very high internet penetration. More men than women in Switzerland use online smartphones and tablets: 69% vs 61%. A further study shows that 55% of Swiss respondents use the app, 9% use the device regularly for shopping online. In a 2016 survey from Netcomm Suisse, the Swiss in Europe are only second to the UK for their annual internet spending. Per year, Swiss customers pay €2,149 online. Clothing, travel, books, reservations, and holidays are the most common product types.
Invoice, credit cards, and PayPal are the common online payment methods in Switzerland. The Swiss customer prefers paying with PayPal in Switzerland (43%), credit card (40%), and money on sale (39%) according to details provided by Netcomm Suisse. Post-office cheque issues, direct bank transfer, payment online after reservation, and bank transfer on the branch are other pop-edited payment options in Switzerland.
A debit card is one of Switzerland's most often preferred modes of payment done with 29% of transactions. Cash remains the king, however. This means the payment of 48% of purchases. The Swiss average still has some cash in its pockets while a debit card is known as the cheapest and most secure method of payment.
Contactless payments are not preferred between Swiss payments because of a number of issues. Yet, year after year, the community of their fans is growing, mostly in young adults. They pay with their debit
Protection is the principal factor for selecting a mode of payment. Many users see it as data theft and confidentiality safety. What is other important is complete oversight of and accountability of the payment process. Transaction authentication is a prerequisite for many users to accept a mode of payment at all. When it comes to data security, cards are considered the best payment type. E-banking is number one when it comes to preventing financial disruption.
For the Switzerland people, security is an urgent matter. They are more concerned with preventing, for example, financial loss, the effects of lack of protection.
When it comes to online shopping, Swiss focus on social media. Before purchasing 83 percent of customers have digitally searched for a product, while 71 percent only buy online, and 35 percent use mobile for this reason.
Nearly 70 percent of Switzerland customers have the habit of visiting an online store prior to making their final purchase. The internet has a great influence on the life of Switzerland. Facebook is the most popular social network. So it should be present here if e-commerce wishes to be in contact with consumers. In Switzerland everyday life, YouTube and WhatsApp are also relevant.
The path from Geneva to St. Galen is the main logistic channel. It is located in the country's northern region. Logistics in this country are in pretty tough condition due to the very mountainous terrain. Nonetheless, there was a proposal for the underground transportation tunnel Cargo Sous Terrain for a long time. The eastern boundary of the world will be reached. Undoubtedly, the notion of tunnel logistics is very courageous, which for Switzerland will be a great revolution. However, such a tunnel will definitely boost logistics not just in the country but globally.
This amazing and beautiful country has potential for the Eccomerce industry. The population is adapted to mobile technology, has access to the internet, has money to spend, and is willing to spend. These features make the Swiss an attractive place to set up your eCommerce venture. The market has room for all kinds of niches. The market does prefer the sale of services more than products, but regardless, goods do take 40% of the wholesales.
The swiss spend an average of 1800 GBP / year on online purchases. You need to find a winning product and you can capitalize on this great opportunity. This country likes shopping online and they will just keep growing and buying more and more. The country has strong economics and other economic metrics that make it a highly lucrative place to set up an eCommerce store.
The fascinating country is Switzerland. It has some parallels with, Germany as part of the DACH region. Health is a concern for customers in both countries. But certain variations still exist. Cross-border shopping is a brilliant example here. Swiss do a lot; Germans like to concentrate on their market in the meantime. Although Switzerland must face many obstacles, even in the field of e-commerce, we can only foresee more innovation on the e-commerce path if we look at the technological orientation of that area.
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