Luxury Goods in Switzerland

Luxury goods in 2025: The big picture

In 2025, luxury goods in Switzerland demonstrated a measured and steady performance, driven by moderate economic growth and cautious consumer spending. Despite geopolitical uncertainties and inflationary pressures that curtailed discretionary spending, the market saw a persistent trend of premiumisation and a selective rebound in consumer confidence. Experiential luxury, which encompasses high-end leisure activities and services, remained a positive performer. Growth was fuelled by an increasing demand for meaningful and memorable experiences, particularly among affluent international tourists from Asia Pacific, who were drawn to Switzerland's renowned hospitality and natural beauty. In particular, luxury hotels continued to dominate value sales of experiential luxury, bolstered by higher spending on spa treatments, wellness services, and exclusive travel experiences. Affluent consumers, seeking to enhance their quality of life post-pandemic, were particularly inclined to invest in these areas, contributing to the category’s stable performance.

2025 key trends

Luxury goods in Switzerland was notably influenced by ongoing trends emphasising sustainability, personalisation, and the integration of advanced technologies such as artificial intelligence in 2025. Swiss consumers continued to prioritise products and experiences that demonstrated environmental responsibility, including the use of ethically sourced materials, eco-friendly production processes, and initiatives aimed at reducing waste and energy consumption. Personalisation remained a key demand, with consumers seeking bespoke products and customised services that fostered a personal connection with luxury brands. The adoption of AI and digital tools enhanced the shopping experience, enabling more tailored recommendations and streamlined interactions, while maintaining the human touch highly valued by Swiss buyers.

Competitive landscape

In 2024, the competitive landscape of luxury goods in Switzerland continued to be dominated by established premium and luxury car manufacturers, with Volkswagen AG, Daimler AG, and Bayerische Motoren Werke AG (BMW) leading in terms of value sales. These companies maintained their strong market positions due to their reputation for engineering excellence and innovation, particularly within their luxury and premium vehicle segments. Their high-end models, which seamlessly integrate comfort, advanced technology, and prestige, resonated well with Swiss consumers who place a high value on quality and status.

Retail developments

Store-based sales continue to dominate luxury goods in Switzerland, reaffirming Swiss consumers’ preference for personalised and tactile shopping experiences. Flagship stores and established luxury retailers remain the primary distribution channels, leveraging their ability to offer exclusive in-store services such as bespoke consultations, private shopping appointments, and immersive brand presentations. These features are particularly appreciated by buyers of luxury jewellery, luxury timepieces, and luxury leather goods, where the craftsmanship and heritage of the products are highly valued. The increasing focus on digital transformation, especially within designer apparel and footwear (ready-to-wear), luxury eyewear, and super premium beauty and personal care, meant that retail e-commerce recorded further share gain in 2025 but did not surpass the predominance of brick-and-mortar outlets. Nevertheless, the rising penetration of retail e-commerce is being driven by enhancements in virtual try-on technologies, improved user experience, and the integration of social shopping, which collectively cater to younger affluent consumers who value convenience without compromising immersive luxury brand engagement.

What next for luxury goods?

Value sales of luxury goods in Switzerland are predicted to reach CHF19.7 billion by 2030, representing a current value CAGR of 3% (2025 constant value CAGR of 2%) over the forecast period. This moderate growth will be underpinned by the resilient financial wealth of HNWIs and UHNWIs, whose numbers are expected to increase, driving sustained demand for luxury products. Despite a modest broader economic environment and GDP growth, the compounded increase in wealth among affluent consumers will remain a key driver of value sales growth. However, more moderate price inflation and a growing emphasis on sustainability and circular retail solutions are expected to contribute to a steady but less accelerated expansion compared to previous years.