A new Christmas survey suggests festive spending in Switzerland is stagnating for a second year.
Research by EY and the Swiss Retail Federation shows consumers plan to spend an average of CHF 282, the same as last year and well below the record levels of 2022.
More than half of respondents say rising living costs, particularly health insurance and rent, are prompting them to cut back.
Younger adults, however, expect to spend more, while 36- to 45-year-olds are tightening their budgets.
Gift vouchers remain the most popular presents, and shoppers are returning to brick-and-mortar stores, with shopping centres gaining ground as online retail slips back.
Sustainability is also a big issue for gift buyers.
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