The busiest shopping day of the year in the United States has become big business in Switzerland. But, some worry about the risks of consumers falling into debt and the pressure the Black Friday “holiday” puts on employees and the postal service.
It wasn’t until five years ago that Black Friday, which falls on the Friday after American Thanksgiving (this year November 29), started appearing in Switzerland. Many retailers now combine this with Cyber Monday to offer a full weekend or even a week of huge discounts.
This has turned into a big pre-Christmas shopping boom at the end of November that leads some people to spend beyond their means according to an article in the German-language paper NZZ am SonntagExternal link.
“On Black Friday and Cyber Monday, 10 to 15 times more customers applied for (credit card) limit increases than on an average day,” explained a spokesperson for Viseca, which issues credit cards to various Swiss commercial and cantonal banks. This year Viseca sent clients instructions on how to increase their credit limits.
This is raising alarm bells that big discounts could promote shopping addiction and indebtedness. “People who are just able to keep their budgets under control run the risk of falling debt on days like Black Friday,” said Mario Roncoroni of the Bern debt advisory service.
While there are no official turnover statistics for the holiday, Swiss Post processed 6.8 million packages last year during the Black Friday period – more than ever. Sales of electronic goods doubled from 2015 to 2018 during the Black Friday week.
Some retailers look forward to the holiday with some trepidation. “Black Friday and Cyber Monday are a big challenge for us. Especially for our employees,” explained Florian Teuteberg, CEO of the online department store Digitec-Galaxus. The company processes six times more transactions during Black Friday than on a normal day.
Teuteberg adds that “you don’t have many alternatives. You just go along with it. The traffic is immense. It would be careless to let this pass us by.
More
More
Meet the man who tracks Swiss spending habits
This content was published on
Why are the Swiss so fond of cross-border shopping? What has recently changed in their eating habits? A researcher from Germany knows the answers.
Swisscom receives greenlight for acquisition of Vodafone Italia
This content was published on
The takeover of Vodafone Italia by Swisscom is nearing completion. All relevant authorities have now approved the €8 billion (CHF7.45 billion) deal.
Novo Nordisk stock market plunge drags down Swiss device maker Ypsomed
This content was published on
The Danish pharmaceutical giant, Novo Nordisk, faced setbacks on Friday that weighed on the share price of Swiss injection device manufacturer Ypsomed.
Swiss press react to EU deal with mix of euphoria and scepticism
This content was published on
Swiss media reaction to the agreement between Switzerland and the EU varies widely. Some are celebrating, while others worry about what is to come.
Swiss Solidarity donations to tackle child abuse top CHF4 million
This content was published on
Swiss Solidarity, the humanitarian arm of the Swiss Broadcasting Corporation (SBC), has raised over CHF4 million ($4.3 million) to tackle child abuse.
EU Commission president says Swiss-EU deal is ‘historic’ agreement
This content was published on
At a joint media conference with Swiss President Viola Amherd in Bern, European Commission President Ursula von der Leyen spoke of a "day of joy".
Switzerland and EU reach deal on future bilateral relations
This content was published on
Switzerland and the European Union have announced a political agreement to update their trading relationship after almost a decade of difficult talks.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Smartphone shopping boosts online trade
This content was published on
Online shopping accounts for ever more of the Swiss retail market as shopping via smartphone also becomes more popular with consumers.
This content was published on
The number of packages processed by the Swiss Post office’s three parcel centres has been rising steadily since they opened 20 years ago.
From farm to table – preparing Thanksgiving turkeys in Switzerland
This content was published on
More and more turkeys are ending up on festive dinner tables in Switzerland. swissinfo.ch sees how the birds live – and die.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.