The Swiss' propensity to buy has risen slightly

The Swiss rank fifth in Europe in terms of consumer confidence. This is shown by the Nielsen Consumer Confidence Index, which stands at 104 index points in this country in the first quarter of 2018. Compared with the previous quarter, consumer sentiment in Switzerland is thus up by five points and is now 18 points above the European average of 86 points. Switzerland has thus moved up from tenth to fifth place.

That's the finding of the latest consumer confidence study from The Conference Board and Nielsen, a global performance management company that provides information and insights on consumer media and consumption behavior. The Consumer Confidence Index tracks consumers' assessments of their job prospects, personal financial situation and willingness to spend money - always looking ahead to the next twelve months. Globally, Nielsen has been studying consumer confidence in 64 countries since 2005.

"Consumer sentiment among the Swiss is in the fast lane and has climbed into the top 5 in Europe. The gap to the European average is widening. This is because the Swiss are much more positive about their job prospects in particular than the rest of Europe. This could be one reason why the buying mood has risen compared with the previous quarter. This is mainly due to the steady economic upturn and stable price developments in this country," explains Pedro Lima, Managing Director of Nielsen Switzerland.

Only the Danes (114 points), the Czechs (108.5 points), the Germans (108) and Israel (105 points) are more optimistic than the Swiss. In a European comparison, Switzerland, Germany and Serbia recorded the greatest growth in consumer confidence, with an increase of five points.

Job optimism above European level

So while job optimism in this country continues unabated, with 69 percent of the Swiss rating their employment outlook for the next 12 months as very good or good, only 39 percent of the European average say the same. "Swiss confidence in the labor market and their employment situation reaches record levels with these figures. Since consumer sentiment and job prospects are closely linked, it is hardly surprising that Switzerland is also ahead in the European rankings here," says Pedro Lima. Only the Czechs are even more positive about their employment situation (71 percent), and the Danes (69 percent) achieve the same result as the Swiss and Germans.

Swiss more generous than many other Europeans

However, the Swiss are not only positive about their employment situation, but also about their personal finances. In the first quarter of 2018, over half (57 percent) of the Swiss surveyed rated their own financial situation for the coming 12 months as very good or good. This positive assessment has also risen by two percent quarter-on-quarter and is clearly above the average European assessment of 47 percent.

However, the optimistic view of their own finances is only partially reflected in the shopping mood of the Swiss. Less than half (48 percent) see the next few months as a good time to spend money and make purchases. The European average here is even just 37 percent. "A look at the pan-European figures shows that the Swiss are more likely to spend their money than other Europeans. However, the Swiss do not come close to the spending mood of the Germans (54 percent), the Danes (56 percent) or the Czechs (52 percent)," says Pedro Lima.

Europe saves, Switzerland invests in vacations, health care and new clothes

So, having covered their living expenses, the first thing the Swiss think of when it comes to spending is vacations (48 percent). As in previous quarters, healthcare (41 percent) comes second and new clothes (35 percent) third.

Only 28 percent of Swiss consumers think about saving after they have covered their living costs. "Even though the thought of saving money has increased by one percent among the Swiss (Q4 2017: 27 percent), the European average is much more focused on saving," says Pedro Lima. On average, 40 percent of the Swiss say they are saving their money as a matter of priority. Only then does the European average spend money on vacations and travel (37 percent) or think about new clothes (37 percent).