Corona crisis catapults online sales to new heights
Online stores experience a growth spurt in 2020 because of the Corona crisis. Every second internet store in Switzerland recorded an increase in orders of more than 20 percent during the Corona crisis. And the boost is likely to continue in the longer term, according to the ZHAW's "Online Retailer Survey 2020".
Both small and large online stores benefit from the growth. The survey conducted by the Zurich University of Applied Sciences ZHAW is based on a representative survey of 330 Swiss online stores and was carried out between May 6 and August 13, 2020. It found that both stores for private customers benefited from growth, as did stores with a focus on corporate customers.
"Many online stores experienced an increase in sales of up to 1,500 percent and could hardly save themselves from orders," study author Darius Zumstein was quoted as saying in a communiqué on the study. Swiss shoppers have increased their online purchases due to the temporary closure of brick-and-mortar stores.
In addition, many people work from home or spend significantly more time at home. As a result, they have also changed the way they spend their free time, which has greatly increased the digital demand for goods such as gardening tools, food, and sports and toys.
Upswing likely to continue
For the same reasons, online orders for products in the electrical, computer and multimedia sectors would also have increased sharply. And despite the special circumstances of the growth, online retailers do not now expect the upswing to slow down again soon.
82 percent of the stores surveyed also expected a moderate or even strong increase in orders in the longer term. Many companies were accordingly planning increased investment in digital business, such as expanding their online store or online marketing.
The University of Applied Sciences and Arts Northwestern Switzerland FHNW had already arrived at similar results to those of the ZHAW. In its e-commerce study published in July, it predicted that the Swiss will spend 13 billion Swiss francs on online purchases this year - 3 billion more than in 2019. (Werbewoche.ch reported).
This would mean that every inhabitant of Switzerland - from babies to old-age home residents - would spend an average of around CHF 1,500 on online purchases in 2020. However, this figure also includes online purchases of airline tickets or train tickets. Last year, according to the FHNW, Swiss online retailing had already reached a new level by breaking the CHF 10 billion barrier for the first time.
Invoice and credit card
The ZHAW study also asked customers about their most popular means of payment. Invoices and credit cards continue to lead the field, accounting for 49 percent and 32 percent of transactions respectively.
However, there has been a sharp increase in the use of the Twint mobile payment platform, which is now offered by every second Swiss online store. Technically, payment transactions are most frequently processed in the background via the providers PayPal, PostFinance, Worldline/SIX Payment Services and Datatrans. (SDA/swi)
