Swiss Retail Trade Stagnated In 2025

Retailers covered by the NIQ Market Monitor Switzerland sold 1.2% more goods in the food and food-related sector (food/nearfood). In the non-food sector, the increase was a meagre 0.6%.

Meanwhile, the trend away from bricks-and-mortar retail towards online shopping continues. As at the end of December 2025, the cumulative growth in online shopping last year was around 10% according to NielsenIQ. In-store sales are therefore likely to have fallen again in 2025.

However, according to the market researcher itself, the NIQ Market Monitor figures do not claim to be representative of the market as a whole. The 40 or so large Swiss retailers analysed cover around 40 to 50% of total retail sales. Speciality retailers are not included.

According to the latest figures published by the Swiss Retail Federation in mid-January, retail sales in 2025 sank by up to 1.3% in nominal terms. The association assumes that while the food sector grew by around 2.5%, the non-food sector fell by around 4%.

A turnaround is also not in sight, the association said at the time. Factors such as geopolitical uncertainties, high health insurance premiums and the perception of high retail prices, are likely to continue to curb consumption in 2026.

This content was published on Dec 15, 2025 Switzerland's State Secretariat for Economic Affairs (SECO) has slightly raised its 2026 economic growth forecast following the recent agreement to lower US import tariffs on Swiss products.