Designer apparel and footwear sales in Switzerland are set to be hit hard by the government’s attempts to control the virus. International travellers for both tourism and business generate a significant share of value sales of these products, and the assortment of travel bans from both the Swiss government and the countries of origin have greatly reduced footfall.
For many buyers of designer apparel and footwear (ready-to-wear), the experiential pleasure of shopping at top end stores is a key part of the purchase, and in practical terms most consumers like to try before they buy. Store closures at the beginning of lockdown between March and May has therefore had a significant impact on sales, with most consumers unwilling to switch online.
Swiss designer apparel and footwear (ready-to-wear) has been protected from the effects of the pandemic to a certain extent by the shape of the competitive landscape. Swiss consumers are quite conservative.
Tourist numbers and other inbound travellers are forecast to recover at a slow and steady pace over the forecast period. This means that in the long term, international expenditure should recover, but short-term recovery will be led by domestic consumers.
Value sales of designer apparel and footwear (ready-to-wear) are anticipated to recover relatively quickly, with values in real constant terms set to return to pre-pandemic levels by 2023. There is still significant opportunity in Switzerland, which has a large population of affluent, sophisticated consumers that are highly responsive to luxury brands.
E-commerce is set see its share of value sales rise in 2020, reflecting the closure of physical retail outlets between March and May, and the understandable reluctance many consumers had to return to the stores once they reopened. In fact, this growth in share was more of a result of the struggle faced by physical outlets, as sales via e-commerce are actually set to drop in 2020.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Designer Apparel and Footwear (Ready-to-Wear) industry in Switzerland with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Designer Apparel and Footwear (Ready-to-Wear) industry in Switzerland, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Designer Apparel and Footwear (Ready-to-Wear) research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page