With new data and surveys have signed the Economists of Credit Suisse, in a study clearly followed, as the Swiss retail trade has changed in the last few years. First the good news: The industry was able to increase sales slightly in the past year. However, the Economists found that retailers lag behind in this country in the international comparison afterwards Between 2005 and 2017 have developed in almost any Western European country, the sales figures so hesitant, as in Switzerland, write the analysts.
This is also reflected in the number of persons employed: While the number of employees rose in the retail trade in this period, almost everywhere in Western Europe, in Switzerland, three per cent. This decrease in Switzerland was the stronger, the closer an area is to a foreign supermarket used to be – and more shopping tourism was suspended.
the authors of The study looked for even more detail, such as the foreign competition has the Swiss retail sector in General, changed. The analysts distinguish three phases, in which foreign competitors were able to extract from local providers in a different way and market share.
Between 2005 and 2010 grew especially foreign suppliers, the constructions in Switzerland, a physical presence – defining the market in the Specific entries of the discounters Aldi and Lidl. From 2010 to 2015, the pressure created by the shopping tourism increased. Here is the appreciation of the Swiss franc is particularly important, the purchases in the border had made the price much more attractive. Starting in 2015, foreign online retailers, such as Amazon and Zalando gained market shares.
image: Credit Suisse
In the food business, it looks after 14 years, Aldi and 10 years, Lidl, the two large claim groups Migros and Coop, after the first loss of their leading position as far as possible. You are lost in the food, first of all, while about ten percentage points of their market share to discounters, but since 2015 you capture a year stable at around 58 percent. Switzerland is neither a Migros and Coop governed duopoly is still a discount store.
The loss of market shares need not be accompanied necessarily with a drop in sales in absolute Numbers, as the example of Denner. The Discounter owned by the Migros has lost since 2010, also around ten percent of its share of the Discounter Segment on Aldi and Lidl, however, in absolute Numbers, Denners sales growth because the Segment was as a Whole greater.
image: Credit Suisse
With the financial crisis and the subsequent Euro crisis, the decisive effect then came into play, the fired first, the shopping tourism and also foreign online traders: the price differential between Switzerland and foreign countries, this was due to the appreciation of the Swiss franc in many product categories is even more extreme. Specifically, according to the Frank shock in January 2015, the price premium was exploded in this country compared to Germany, literally. The retail trade is functionalized by the technological progress, so in General, inter-nation. But the Swiss dealer must also fight against the price differential.
image: Credit Suisse
How will the Swiss can claim to trade in this environment against the growing online trade? Here are the Economists dare to make a prediction: predict the online giant Amazon is no easy game in Switzerland. The analysts see three reasons why Amazon would in this country has become difficult for a similar dominance as in the USA, the UK or Germany.
Swiss buy longer Amazon: The population was able to receive a part of the products and in Switzerland, but had to pay the customs settlement. The market entry of Amazon so not "all of a sudden", but for years, insidiously. Switzerland is not a "green Meadow" and more: Amazon has been active in Germany in 1998 and 2000 in France. The company had in these countries, the "First Mover"advantage: There were no well-known competition in the new market. In Switzerland, it looks very different today. Amazon grows third party vendors, don't deliver in Switzerland: Amazon offers in Switzerland products from your own warehouse. In Germany, the company is growing, however, about the marketplace, where third-party vendors use Amazon as a platform to offer their Goods. Without this cooperation, the company would grow less strongly, and here the Swiss dealer would have as a third-party is also a decisive advantage of location.
Created: 08.01.2019, 09:17 PM