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The majority of Swiss say they are financially better off than they were 5 years ago

Markets and Finances | 26-03-2019

Despite current economic conditions, the Swiss estimate their personal financial situation better than they did five years ago (2013). 35 percent and thus a large proportion of Swiss state that their financial situation improved between 2013 and 2018. Only three of every 10 Swiss say that they are worse in the time comparison with the view of the bank account. Similar positive results are also evident in European comparison. Here, 37 percent of consumers say their financial situation in 2018 is significantly better than in 2013. The global value is even higher at 58 percent.

The study provides consumers with an estimation of their personal financial situation, their willingness to spend money and their shopping behavior compared to 2018 compared to 2013. Since 2005, Nielsen has been investigating these aspects on a regular basis in 64 countries worldwide.

More than half of consumers can also spend their money without much concern. 17 percent of the respondents in Switzerland can spend freely, another 42 percent see themselves in a comfortable spending situation. However, 42 percent also say that their financial resources are more for the basics.

FOR CLOTHING, ELECTRONICS AND MEAT, IT IS DELIBERATE TO BE A PREMIUM PRODUCT

In addition, the figures show that 31 percent of consumers in Switzerland say they are willing to use more expensive premium products, above all because of environmentally friendly or sustainable materials. 28% of consumers buy these products because they pay close attention to ingredients, while another 28% prefer superior function or performance.

Would you like to know more about "Changing Consumer Prosperity"? Download the report for free now.

Tagged:  WEALTH  |  CONSUMER  |  FINANCIAL  |  CONSUMER CONFIDENCE

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