Swiss Retail Sales Rise Below Forecasts

Retail sales in Switzerland rose by 2.9% year-on-year in December 2025, exceeding market forecasts of a 2.5% increase and accelerating from a downwardly revised 1.7% gain in November. The latest figure also marked the strongest growth in retail activity since June, driven by a rebound in sales for food, beverages and tobacco (1.3% vs -1.5% in November). Turnover also continued to rise for non-food products excluding fuel (5.2% vs 5.3%), particularly for information and communication equipment (18.1% vs 12.5%) and other household equipment, textiles, DIY and furniture (8.3% vs 3%). Additionally, overall retail trade excluding fuel stations accelerated to 3.3% from 1.9% in November. In contrast, fuel retailing declined (-1.6% vs 0.8%), while sales growth via stalls and markets, via mail order houses or via internet (0.6% vs 6.8%) slowed significantly. On a seasonally adjusted monthly basis, retail sales grew by 1% in December, recovering from a 0.1% fall in the preceding period.

Retail sales in Switzerland rose 2.3% year-on-year in November 2025, edging up from a 2.2% increase in October but falling short of the expected 2.5% gain. Sales strengthened for non-food products excluding fuel, which expanded 6.2%, up from 4.1% in October, supported by continued solid demand for information and communication equipment (12.3%). Turnover also rose faster for sporting and recreational goods (4.9% vs 1.4%), other goods (7.5% vs 2.9%), and online and mail-order sales (5.7% vs 1.3%). Fuel retailing increased 2.9%, compared with 1.8% previously. Overall retail trade excluding fuel stations accelerated slightly to 2.4%, from 2.3% in October. Meanwhile, growth in household goods, textiles and home improvement eased to 3.2% from 4.5%, while food, beverages and tobacco sales slipped further (-1.4% vs -0.2%). On a seasonally adjusted monthly basis, retail sales rose 0.1%, easing from a downwardly revised 0.2% gain in October.

Retail sales in Switzerland advanced 2.7% year-on-year in October 2025, surpassing market estimates of a 1.2% gain and following an upwardly revised 1.8% increase in the previous month. Sales growth picked up for non-food products (4.8% vs 2.9% in September), other goods (3.7% vs 2.2%), and information and communication equipment (19.8% vs 19.1%). Additionally, sales rebounded sharply for household equipment and furniture (5.1% vs -0.7%) and cultural and recreational goods (1.2% vs -1.4%), while declines eased at service stations (-0.1% vs -1.2%). In contrast, activity moderated for food, beverages and tobacco (0.5% vs 1.6%) and for online and mail order sales (3.0% vs 3.2%). On a seasonally adjusted monthly basis, retail trade rose 0.7% in October, following a downwardly revised 0.5% growth in the prior period. Excluding fuel, retail sales increased by 3% year-on-year in October from 2.3% in September.