Disappointing Black Friday sales leave Swiss retailers in the red

Black Friday has clearly lost its lustre for the Swiss retail trade who lost CHF100 million (about $127 million). Consumers have given retailers the cold shoulder this year. According to a recent study by the Gottlieb Duttweiler Institute (GDI), this year's Black Friday has become a burden for the Swiss retail trade. Disillusionment now prevails over the annual shopping trend. +Get the most important news from Switzerland in your inbox Consumers were twice as likely to categorise the discounted offers as "disappointing" rather than "attractive". Two-thirds of respondents now consider Black Friday to be "overrated", with only a small minority still believing they are actually saving money. According to the GDI, an average of three items were purchased per person, with a total value of around CHF200 and an average discount of 30%. In total, the Swiss spent around CHF703 million in the days surrounding Black Friday. Budgets significantly undercut In the run-up to the bargain days ...