Despite inflation, consumers in Switzerland spent more money on Christmas presents in 2023 than in previous years. Cashless payments reached a record level in the run-up to Christmas.

Rising prices did not have a negative impact on this year’s Christmas business. On the contrary: from December 1 to 24, Swiss retailers earned more from cashless payments than ever before, according to an analysis by the news agency AWP based on data from Monitoring Consumption Switzerland going back to 2019. ...