Switzerland

Switzerland

General Information

  • Population 8.7m
  • Population 15 + 7.3m
  • Online Population 8.4m
  • Area 41,285 km2
  • Currency CHF
  • GDP 747.4bn USD
  • GDP per Capita 86,850 USD
  • Card-based payments
  • Cash-based payments
  • Bank transfer
  • Wallets
  • Other
[{"label":"Card-based payments","value":"25"},{"label":"Cash-based payments","value":"2"},{"label":"Bank transfer","value":"56"},{"label":"Wallets","value":"16"},{"label":"Other","value":"1"}]
Banked population
  • Switzerland 98%
  • Western & Central Europe 94%
  • World 67%
Credit card penetration
  • Switzerland 66%
  • Western & Central Europe 46%
  • World 19%
Internet penetration
  • Switzerland 97%
  • Western & Central Europe 91%
  • World 62%
Smartphone penetration
  • Switzerland 83%
  • Western & Central Europe 75%
  • World 70%

A high number of Swiss shop cross-border – 65%. Most of them shop in Germany, China and the US. The reason for this is because of the strong Swiss Franc pushing prices in Switzerland up.

Switzerland has slowly amended its VAT rules to bring them closer to EU rules. In 2020 the Swiss Federal government put in place a law to charge VAT to non-residential suppliers of digital content.

Switzerland’s economy dropped by 3% in 2020 but is forecast to grow by 3.5% in 2021 and 2.8% in 2022 according to the IMF. Inflation fell in 2020 by 0.7% but is expected to rise by 0.1% in 2021 and by 0.3% in 2022.

Future e-commerce trends (2021-2025)

E-Commerce market size forecast ($US billion)
2021 21.9
2022 24.2
2023 26.4
E-Commerce spending per capita ($US)
2021 2514
2022 2753
2023 2992
E-Commerce spending as % of GDP
2021 2.6
2022 2.8
2023 2.9

Switzerland

The E-Commerce Market

Top e-commerce segments 2019 | 2020

  1. Airlines & Hotels: 47% | 29%
  2. Electrical Goods: 16% | 20%
  3. Health & Beauty: 14% | 18%
  4. Food & Drink: 9% | 14%
  5. Homeware & Furniture: 7% | 10%

Cross-border e-commerce

  1. Cross-border proportion of total e-commerce – 10%
  2. Value of cross-border e-commerce ($US billion) – 1.9
  3. % of online shoppers who have shopped cross-border – 65%

Top 3 cross-border shopping origin markets

  1. Germany: 40%
  2. China: 26%
  3. USA: 7%
E-commerce % of total retail
  • Switzerland 9%
  • Western & Central Europe 17.6%
  • World 20%
E-commerce completed on a mobile device
  • Switzerland 40%
  • Western & Central Europe 43%
  • World 53%

The Credit Card Split

  • Visa
  • Mastercard
  • American Express
  • Local Schemes
[{"label":"Visa","value":"18"},{"label":"Mastercard","value":"61"},{"label":"American Express","value":"3"},{"label":"Local Schemes","value":"18"}]
  • E-commerce market size ($US billion) 19.5bn USD
  • E-Commerce spending per capita ($US) 2,247 USD
  • E-commerce spending as % of GDP 2.4%

Switzerland

Local Payment Methods

BitPay Type Wallet Regions Asia Pacific + 5 Hyperwallet Type Bank transfer, Gift card, Prepaid voucher Regions Asia Pacific + 5 Market relevance High PayPal Type Wallet Regions Asia Pacific + 5 Market relevance High PaysafeCard Type Prepaid voucher Regions Asia Pacific + 5 Market relevance High PaysafeCash Type Cash Regions Eastern Europe & The Commonwealth of Independent States + 2 Paysera Wallet Type Wallet Regions Asia Pacific + 5 Market relevance High PostFinance Type Bank transfer Regions Western & Central Europe Market relevance High SEPA Direct Debit Type Bank transfer Regions Eastern Europe & The Commonwealth of Independent States + 1 Market relevance High Skrill Type Wallet Regions Asia Pacific + 5 Market relevance High Allied Wallet Type Wallet Regions Asia Pacific + 5 Market relevance High Apple Pay Type Wallet Regions Asia Pacific + 5 Market relevance High Amazon Pay Type Wallet Regions Asia Pacific + 3 Market relevance High Boku Type Carrier billing Regions Asia Pacific + 5 Market relevance High DaoPay Type Carrier billing Regions Asia Pacific + 5 Market relevance High Google Pay Type Wallet Regions Asia Pacific + 5 Market relevance High Klarna Type Bank transfer, Buy Now, Pay Later, Instalments Regions Asia Pacific, North America, Western & Central Europe Market relevance High Masterpass Type Wallet Regions Asia Pacific + 5 Market relevance High Mobiamo Type Carrier billing Regions Asia Pacific + 5 Market relevance High Razer Gold Type Wallet Regions Asia Pacific + 5 Market relevance High Samsung Pay Type Wallet Regions Asia Pacific + 5 Market relevance High SEPA Credit Transfer Type Bank transfer Regions Eastern Europe & The Commonwealth of Independent States + 1 Market relevance High SWIFT Type Bank transfer Regions Asia Pacific + 5 Market relevance High MyOne Type Local payment card Regions Western & Central Europe Market relevance Medium PowerPay Type Buy Now, Pay Later Regions Western & Central Europe Market relevance Medium Secure Remote Commerce (SRC) Type Wallet Regions Asia Pacific + 5 Market relevance Medium SEPA Instant Credit Transfers (SCT Inst) Type Bank transfer Regions Eastern Europe & The Commonwealth of Independent States + 1 Market relevance Medium TWINT Type Wallet Regions Western & Central Europe Market relevance Medium BBVA Type Bank transfer Regions Middle East & Africa, North America, South & Central America + 1 Boloro Type Wallet Regions Asia Pacific + 5 G2A Pay Type Wallet Regions Asia Pacific + 5 Microsoft Pay Type Wallet Regions North America, Western & Central Europe NETELLER Type Wallet Regions Asia Pacific + 5 Oxygen Wallet Type Cryptocurrency Wallet Regions Western & Central Europe Market relevance Medium Splitit Type Instalments Regions Asia Pacific + 5

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