At the heart of Europe, Switzerland is universally known for its chocolates and its watchmaking. At HiPay, we believe that the country should also be known for its e-commerce… Why? The answer in the infographic below.
With one of the largest European buying power, the Swiss population spend online in average each year €2,241. If the Swiss e-commerce market is only at the 10th position, it’s only due to its low population. With a population comparable to the French one, the country’s e-commerce would register a revenue higher than 149 billion euros, against 10.46 currently. Let’s remind that the French e-commerce revenue is about 72 billion euros…!
The main characteristic of the Swiss market is its appetence for cross-border purchases. 61% of Swiss orders are made on a foreign website. If you should only remember three advices before conquering this market: thing about free delivery, use the right language and most of all, adapt your payment offer (Swiss Franc is the operative currency, not Euro!).
To summarize: Swiss e-shoppers spend a lot online and are open to foreign websites, but the country does not count enough population to compete with the market’s leaders.
We’re a global payment provider processing more than €2bn annually across 150 countries and 220 payment types. By harnessing data analytics, we help deliver valuable customer insights that enable our clients’ businesses to succeed. More information at hipay.com | HiPay Group is listed on the Euronext Paris Compartment C (ISIN code: FR0012821916 – mnemo: HIPAY).