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July 2024: Swiss Retail Turnover Up 1.5% Year-on-Year

The Swiss retail sector experienced a notable increase in turnover in July 2024, according to provisional figures from the Federal Statistical Office (FSO). In nominal terms, retail trade turnover rose by 1.5% compared to the same month in the previous year, adjusted for sales days and holidays. Seasonally adjusted, turnover saw a more robust increase of 2.0% from June 2024.

When adjusted for inflation, real turnover also showed significant growth. Real turnover, accounting for sales days and holidays, grew by 2.7% year-on-year. Month-on-month, real turnover experienced a 1.4% increase.

July 2024: Swiss Retail Turnover Up 1.5% Year-on-Year

Focusing on the retail sector, excluding service stations, nominal turnover climbed by 1.6% in July 2024 compared to July 2023, with real turnover up by 2.9%. Within this sector, retail sales of food, drinks, and tobacco saw a 2.4% increase in nominal terms and a 2.3% rise in real terms. Conversely, the non-food sector experienced a more modest nominal increase of 0.8% but a substantial real growth of 3.1%.

Seasonally adjusted figures reveal that excluding service stations, nominal turnover in the retail sector rose by 2.1% from the previous month, with real turnover up by 1.6%. Sales in the food, drinks, and tobacco sectors saw a nominal increase of 3.0% and a real increase of 2.2%. The non-food sector also showed positive trends, with a 1.3% nominal increase and a 1.4% real increase.

These figures suggest a steady growth trajectory in the Swiss retail trade, reflecting both an increase in consumer spending and a favorable economic environment.

July 2024 marked a positive period for the Swiss retail sector, with both nominal and real turnover experiencing notable growth. The sector’s performance, highlighted by a 1.5% increase in nominal turnover year-on-year and a 2.7% rise in real terms, underscores a robust consumer spending environment. The growth is particularly evident in food, drinks, and tobacco sales, which outpaced the non-food sector. 

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