Swiss Retail Sales Growth Eases in July

Retail sales in Switzerland rose by 0.7% year-on-year in July 2025, sharply slowing from an upwardly revised 3.9% increase in June and far below expectations for a more modest easing to 3.6%.

The deceleration was mainly driven by weaker growth in non-food products (2.8% vs 5.5% in June), with notable slowdowns in cultural and recreation goods (2.9% vs 7.2%) and online and mail-order sales (2.2% vs 8.3%), while sales of other goods turned negative (-0.7% vs 4.3%).

On the other hand, household equipment and furniture sales picked up (6.5% vs 0.1%), and information and communication equipment continued to post robust double-digit gains (23% vs 18.7%).

In addition, food, beverages, and tobacco sales fell 0.8% after a 3% rise in the prior month.

On a seasonally adjusted monthly basis, retail trade dropped by 0.5% in July, reversing a revised 1.9% growth in June.

Excluding fuel, sales went up 1% year-on-year, down from a 4.2% rise in June.